Reasons Why Women Should Start A Small Business in Maryland, Specifically in Baltimore as Well.

Did you know that women-owned businesses in Maryland are becoming increasingly popular and growing? If you’re a woman thinking about starting your small business in Maryland, you should know that Maryland is officially ranked as #2 in the nation for having the most woman-owned firms in 2018. If you didn’t realize this fact, you’re not alone. If this reason alone is not enough for you to start a small business in Maryland, then keep reading to discover other ideas on why you should make such a financial investment.

Maryland is Known for Venture Capital Deals

What is a venture capital deal you may wonder? A venture capital deal is when investors invest their money into small businesses or startup companies. This financial investment occurs mainly when an investor believes that a startup business will experience exponential growth. Maryland is ranked eighth in the nation for this kind of deal. Venture capital deals matter because any small business needs financial funding. Economic security doesn’t happen overnight.

Baltimore is Booming

Baltimore is an urban area, sensationalized for its massive crime rates but it’s a hidden gem. Don’t give up on this area. Entrepreneur Magazine has named it as the second hottest startup city. Women business owners are breaking the glass ceiling in Baltimore and glossing the gender gap.

While not woman-owned, PL Consulting’s location is here in Baltimore and is minority owned. We’ve been servicing Baltimore small business owners and professionals for years with our expertise. We know the benefits of being in Baltimore.

Tips for How You Get Started With Your Small Business

  • Jot out a business plan (this is underrated)
  • Register your business name and copyright it (make sure that the name you choose isn’t already on the market)i
  • Register to pay taxes, licenses, and permits (Check with the Clerk of the Circuit Court, Obtain an Employer Identification Number, and register for tax assessment on Maryland’s Comptroller Website)
  • Hire a bookkeeper, payroll expert, research the best ways to forecast your small business, and prepare for a future ROI assessment

PL Consulting Can Help You Plan Your Budget!

PL Consulting offers a diverse range of bookkeeping and other financial services. Each of our services is customized to fit the needs of our client and his or her business plan. Our team can help you with each step of your business from organization, to budget, to financial maintenance.  We are located in Pikesville at 119 Old Court Rd Baltimore, MD 21208. Contact us at 410.764.3731 or info@plcfo.com so that we can assist you with your bookkeeping needs. Remember to stay up to date with everything PL Consulting by following us on our social media platforms via Facebook, Twitter, and LinkedIn.