Partnership Pitfalls: Part 1

Partnership Pitfalls

So… you and your best friend, brother, or spouse want to go into business together? Of course, you agree on everything right now, but what happens when you dont? In many cases being realistic and pragmatic can be the kindest, mostly loving thing you can do for your partner and yourself.

Our very own Maine SBDC Business Advisor Chris Cole has personal experience with a scenario that ended very differently than she thought it would. Over the course of the next month we’ll be sharing a 3-Part series exploring the pitfalls of partnership and how you can protect yourself and your business.

We asked Chris to speak to what happens when partnerships breakdown based on her experience from an employee’s point of view and as a co-owner of a business. Read More

Big Changes to the 1099-K: Is your small business ready?

If your small business receives income via third-party settlement processors like PayPal, Venmo, and CashApp, you may be in for a surprise.

The American Rescue Plan Act (ARPA) passed by Congress in 2021, provided pandemic relief to many small businesses.  It also included a bill that significantly changed reporting requirements for third-party settlement organizations like PayPal, Venmo, and CashApp.  The new ruling also affects platforms like Etsy, Uber, E-Bay, Upwork, etc., that provide settlement services on behalf of self-employed workers. Read More

Ressources disponibles en français

Ressources disponibles en français – Resources available in French

Vous souhaitez réussir et vous sentir compétent et confiant vis-à-vis de ce que vous êtes sur le point de faire. C’est la raison pour laquelle nous avons développé ces outils pour vous. Read More

Are there grant funds for my business?

Federal grants graphic - Maine SBDC

Funding a new or existing business using grant funds is often a very attractive prospect for any business owner. Grants seem to be the silver bullet for a business to get funds without having to worry about paying the money back or putting your own money into the business. Grants opportunities seem to be everywhere since the pandemic. The truth is, in most cases, grant funds for for-profit businesses are not widely available and those that are available can be difficult to obtain. Read More

Breggia Sanitation – Portland

Breggia Sanitation Logo - Maine SBDCGino Breggia approached the Maine SBDC in July of 2021 seeking financial advice to be able to open his own sanitation business. A Portland native, Gino moved out of state to explore career opportunities. He spent time in New York, where he got his introduction to the world’s largest sanitation department, before spending many years in California. Upon his return home to Maine, Gino saw an opportunity to create a more customer service-friendly sanitation business, with a focus specifically on the construction and restaurant industries. Read More

Maine Adventure Co. – Brunswick

Maine Adventure Co. Logo - Maine SBDCTrevar & David Haefele are a father/son team with a passion for the outdoors and a desire to increase sustainable accessibility to the natural beauty Maine has to offer. With diverse life experience in leadership, personal development, and coaching, both Trevar & David are in an excellent position to bring their passion to others. Read More