Since the start of the Great Recession in 2008, the outlook for small business owners was bleak. Any Maryland company that survived the recession was most likely forced to scale back an ambitious business plan in favor of being conservative and cautious. The latest Wells Fargo/Gallup Small Business Index reveals that, even though small business owners may remain cautious, there is reason to be optimistic.
In the past, small businesses in Maryland and elsewhere in the country used to receive discounts from health insurance carriers for healthy employees, while others were assessed a surcharge for employees who experienced numerous health issues. Beginning this year, the Affordable Care Act mandated that those discounts and surcharges cease. This will most likely require an adjustment to a company's business plan -- especially if it was receiving a discount.
Business formation between Hillshire Farms and Tyson Foods is almost complete, contingent on the approval of the U.S. Department of Justice. This merger is a huge business formation between the two food giants and the Department of Justice is involved because of anti-trust issues. In order to complete the purchase of Hillshire Farms, Tyson must meet the requirements of the officials, which includes divesting a certain animal purchasing business.
People who have come up with a new business idea in Maryland might be in a rush to start their endeavors. After all, they may naturally be excited and eager to start making money by growing the new business. A few initial steps may put one in the best position to succeed in the market.
Creating new jobs is important to any local or state economy. This is why many are excited about the opening of the Steak 'n Shake restaurant chain in Maryland, which could potentially bring as many as 4,000 employment positions to the state eventually. The first Steak n’ Shake location is set to open in September, according to the franchisee’s business plan.
First, one sees signs of construction. Perhaps a building unit is being remodeled or a new building is being built. Individuals throughout Maryland and surrounding areas begin to wonder what new business is coming, which creates excitement and conversation amongst residents.
The state of Maryland is conveniently located amid a variety of government entities and businesses that service other government locations. The majority of new businesses in the area are designed to work with these government entities or contractors. Throughout the course of business, the need for working capital in order to honor new contracts or provide payroll can become an issue. A new business in the Maryland area, Hitachi Government Finance, has been created to assist in these endeavors.
Many mornings, workers leave their homes early enough to visit their favorite drive-thru for breakfast. Sometimes, they decide to stop on the way home to pick something up for the next morning; they often decide to enjoy a small taste that evening too. Maryland and its surrounding areas will soon have more choices when it comes to breakfast treats. Dunkin' Donuts has recently announced that it will be opening a new business location in Baltimore, Maryland. In all, they are planning to open 22 new business locations throughout the area.
Finding the funds necessary to start a business can be hard to do. Many new business ideas have potential, but getting a bank to agree and give loans to start a company can be difficult, regardless of how impressive the presentation given may be. Thanks to the new Volt Fund, Maryland residents now have another option when seeking a new business loan.
The now infamous story (and lawsuit) about the founding of Facebook was immortalized in 2010 with the movie "The Social Network." Many Montgomery residents know the tale by now: Mark Zuckerberg, the man associated with Facebook (and one of its creators), was sued by Eduardo Saverin, who claimed he was pushed out of the company by Zuckerberg and other investors. As a result he lost millions -- possibly billions -- in stock in Facebook.