While there are a few approaches to determining the value of an existing business, they all hinge on the ability of a buyer to accurately predict the future cash flow created by the assets. In other words, nobody wants to work for free! Is a buyer going to be confident the business can pay them to do the work of ownership? Usually, this is demonstrated by stable & consistent historic performance.
However, the last few years have been everything but stable & consistent. So how has COVID, shifting industries, changing banking practices, and an alphabet soup of grants & loans (EIDL, PPP, CDBG…) changed the landscape of determining a reasonable market value for your business? Read More
Maine offers businesses year-round opportunities to display their products to potential customers. The state has 24 agriculture fairs, 70 festivals, 115 summer farmers markets, and 35 fall/winter markets. Participating in fairs, festivals, and farmers’ markets can be an excellent way for businesses to promote their products and increase sales. However, it’s essential to prepare your booth in a way that stands out and is relevant to the event. 
Jeanette Bell, of Janie Bell Mosaics, is a retired teacher and a self-taught art and crafts enthusiast. Her passion for mosaic craft started when she was living in Santa Fe, New Mexico. She loved the colors of the high desert and the access to beautiful tiles from Mexico. In 2018, Jeanette relocated to New England and settled in York, where she started creating mosaic pieces as a hobby. Her creations were so unique and beautiful that they caught the attention of her friends, who encouraged her to start a small business. 
After a career managing grocery stores, Chad Boulet and his husband Scott Hunter, decided to embark on a new career and purchased their local hardware store! Depot Square Hardware & Variety is located in downtown Mechanic Falls, and throughout the pandemic their business actually grew as people relied on them for goods and services rather than larger area chain stores. Chad was referred to the Maine SBDC by his lender during the purchasing process to help put together some of the required paperwork. 
Stephanie R. Smith, M. Ed., CHES, CCDT has felt connected to animals since she was very young. Though she wasn’t totally sure how this would play out over the course of her life, she had a gut feeling that she was headed in the right direction! Opening Sacred Paws, a heart-centered holistic positive reinforcement canine behavioral support, training, and nutrition business in Porter, connected her head and her heart in a way that felt affirming. Yet she knew she needed to continue to grow and become more effective at business planning in order to thrive. 
Jessica Alexander is another inspiring small business owner who proved that with hard work and dedication, anything is possible. Before starting her independent practice