Starting a Business as a Veteran in Maryland

Transitioning from military service to civilian life presents many challenges, but one of the most rewarding opportunities is starting your own business. As a Veteran in Maryland, you have access to a wealth of resources designed to help you succeed as an entrepreneur. Whether you’re looking to start a small local business or scale a larger operation, this guide will walk you through the key steps to getting started.

1. Develop a Business Idea and Plan

Before launching a Veteran Owned Business, you need a solid idea and a plan to make it happen. Consider the following questions:

• What products or services will your business offer?

• Who is your target audience?

• What makes your business unique from competitors?

Once you have clarity on your idea, create a business plan that includes:

• A mission statement

• Market research

• A pricing strategy

• Financial projections

• Marketing and sales strategies

A strong business plan will not only serve as a roadmap but will also help secure funding. Resources to assist with business planning include:

• SCORE Business Plan Template - https://www.score.org/resource/business-plan-template-startup-business

• Maryland Small Business Development Center (SBDC) - https://www.marylandsbdc.org/

2. Choose a Business Structure

Maryland offers several business structures, each with its own benefits:

• Sole Proprietorship – Simple to set up but offers no personal liability protection.

• LLC (Limited Liability Company) – Provides liability protection and tax benefits.

• Corporation – Suitable for businesses planning to expand or seek investors.

Register your Veteran Owned Business through the Maryland Business Express website to ensure compliance with state regulations: https://businessexpress.maryland.gov/

3. Obtain Financing and Grants

Maryland Veterans Business Owners have access to exclusive funding opportunities. Some options include:

• SBA Veterans Advantage Loan Program

• Maryland Small Business Development Center (SBDC) Financial Guidance - https://www.marylandsbdc.org/

• Veteran Business Outreach Center (VBOC)

• Grants for Veterans (Maryland Department of Commerce) - https://commerce.maryland.gov/fund/programs-for-businesses

4. Get Certified as a Veteran-Owned Business

Certification as a Veteran Owned Business can open doors to government contracts and funding opportunities. Maryland businesses can apply for:

• Veteran-Owned Small Business (VOSB) Certification: https://www.va.gov/osdbu/verification/

• Service-Disabled Veteran-Owned Small Business (SDVOSB) Certification - https://www.sba.gov/federal-contracting/contracting-assistance-programs/service-disabled-veteran-owned-small-business-program

• State and Federal Contracting Opportunities - https://www.sba.gov/federal-contracting

5. Utilize Veteran Entrepreneur Resources

Maryland provides several Veteran Support resources to help Maryland Veterans Business Owners launch and grow their businesses:

• Maryland Veterans Chamber of Commerce - https://mdvcc.org/

• SCORE Mentorship for Veterans

• Boots to Business Program (SBA) - https://sbavets.force.com/s/

6. Market and Grow Your Business

Once your Veteran Owned Business is up and running, focus on building your brand and attracting customers. Some essential steps include:

• Building a professional website

• Utilizing social media marketing

• Networking with other business owners

• Attending local trade shows and business events

Resources for marketing and growth:

• Small Business Marketing Guide (SBA) - https://www.sba.gov/business-guide/manage-your-business/marketing-sales

• Local Chambers of Commerce in Maryland

Starting a business as a Veteran in Maryland is an exciting opportunity, and with the right resources, planning, and support, you can create a successful and sustainable business. Take advantage of the many Maryland Veterans Support programs available to you and connect with fellow Maryland Veterans Business Owners through organizations like the Maryland Veterans Chamber of Commerce to maximize your chances of success.

If you need further assistance, reach out to Veteran Support organizations in Maryland and take the next step toward becoming a business owner today!