Entrepreneurship - How to Start your Own Business

Are you thinking about starting your own business? Not sure where to begin? The Entrepreneurial Development & Assistance Center (EDAC) on Morgan's campus is available to assist you.

We have also gathered online resources to aid you on your journey to owning a successful and prosperous business.

Getting Started

How do you distinguish between a business and a hobby?
This link directs you to the IRS website and helps individuals clarify the difference between their hobbies and business ventures.

Basic Requirements for Starting a Business in Maryland
Structured checklist for new businesses.

Business Guide | U.S. Small Business Administration
Calculate Startup Costs | Buying a Franchise | Choosing your Location | Registering your Name| Federal & State Tax ID Numbers | Finances| Funding | Acquisitions

Outsourcing Payroll and Becoming Your Own Boss
Utilizing technology to transition from employee to entrepreneur

Funding To Get Started

Grants Find| Apply | Succeed
Database of government grants which are available to the public and can help a venture's funding.

What is a Small-Business Grant?
This website details how grants work, what they are, types of grants, how to get a grant and alternatives to grants.

Funding Programs | Find Resources to Support your Business
This link refers individuals to different finance resources available in Maryland.

Market Research

MARKET RESEARCH
How to Do Market Research for a Startup
How to utilize market trends, industry trends, market dynamics, competitor analysis and information on your target audience to determine the demand for your service/product.

Step-By-Step Guides To Starting A Business

10 Steps to Start Your Business
Starting a business involves planning, making key financial decisions, and completing a series of legal activities.

How to Start a Business in 2021
This is a complete step-by-step guide on how to start a business in 2021.

Small Business in Maryland
Learn how to start a business, find funding, win government contracts, and more.

Starting a Business
Maryland State website provides different resources in regards to registering a business, permits/licenses, tax IDs, business plans and other topics for new businesses.

Writing A Business Plan

How to Write the Perfect Business Plan: A Comprehensive Guide
Step-by step template for writing the perfect business plan for your startup.