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It’s not easy to start a business, particularly in times like these. In Maine, the vast majority of our neighbors, families and friends depend on local businesses for their jobs. That’s why we believe in doing everything we can to help the businesses our communities rely on. Our team of small business specialists can connect you to the right resources to help you grow.
There are so many wonderful organizations that support small businesses in our state, from SCORE and the SBDC to FAME, the SBA and CEI, to name a few. GSB celebrates our dynamic entrepreneurial community through LaunchPad, Maine’s premier small business competition.
Each year at our live pitch event, one Maine business earns our $50,000 LaunchPad Grant and another earns our $10,000 Emerging Business Award. We’re a small part of a vibrant statewide entrepreneurial ecosystem ready to help you along your business journey, from getting started to selling your business and everything in between.
Entrepreneurs are some of the hardest working, most driven people I know, but I’ve learned in my 20-plus years in banking, they can sometimes struggle to see the forest through the trees. That’s where GSB comes in. We’re eager to help our small business community thrive. Here’s some advice to get your business ready for the next step.
Assemble your team. You’re likely the best at what you do, that’s why you got into business, but you might not have experience in every aspect of operating a business. Besides, one person can’t do it all (and do it well). Acknowledging areas of weakness can be one of the greatest challenges of being an entrepreneur. Surround yourself with local experts you trust: a banker, CPA, attorney, and insurance agent. We work with some of the best in Maine and are always happy to make a recommendation.
Know your numbers. We want you to feel confident approaching a bank, investor, or community development organization for financing. Start by putting together a solid business plan and/or financial projections, creating a budget, and making sure you understand your numbers and how you interact with your money. Hiring a bookkeeper can be a great way to deepen your skills.
Connect with us. Whether it’s understanding what programs or opportunities might be available to you, exploring financing options, or simply walking through what we look for on a commercial loan application, we’re here to help.
Let’s talk!.
— Julie Viola
Vice president, commercial banker and manager of small business banking, Gorham Savings Bank
jviola@gorhamsavings.bank
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