The measure is designed to help Maine start-ups raise funds from small investors. J. Craig Anderson at the Portland Press Herald reports that a measure allowing Maine businesses to raise up to $1 million through “crowd investing” became law Monday. The bill, L.D. 1512, “An Act To Increase Funding for Start-ups,” was approved overwhelmingly in […]
First Annual Maine Franchise Owners Franchise Business Day and Legislators Meet & Greet set for January 29th
The Maine franchise owner community is invited to attend the First Annual Maine Franchise Owners Franchise Business Day and Legislators Forum on January 29, 2014. The event will begin at 1 p.m with the “Franchise Business Day” forum to share timely information, best practices and resources for Maine franchise owners. A Franchise Owner and Legislators […]
GAO Report of SBA Franchise Lending Reveals Program Failures
GOA Report Findings: The Government Accountability Office (GAO) published a report identifying that loans to certain franchise companies failed at a higher rate. From 2003 to 2012, the SBA guaranteed loans for more than $10.6 billion to franchise businesses and was forced to make payments on about 28 percent of those loans. Analysis of guaranteed […]
Maine’s Small Business Administration Wants To Help You
The Small Business Administration (SBA) believes “giving small employers a voice early in the process is key to reducing the negative impact of regulations on small businesses, increasing the level of regulatory compliance, and passing on cost savings to state economies. Regional Advocates help identify regulatory concerns of small business by monitoring the impact of […]
Caribou Maine is Open for Business!
What does a Certified Business Friendly Community that happens to be the second largest city in Aroostook County,with a population of a little more than 8,000 people have to offer you? A chance to expand your business. Caribou, Maine already has a number of franchise brands including Burger King, McDonald’s, Dunkin’ Donuts, Tim Horton’s, Subway, […]
U.S. Government Reopens, Franchise Owners are Relieved
BlueMauMau – WASHINGTON—After sixteen days of a shutdown, the House of Representatives voted to approve a Senate deal to end the U.S. federal shutdown and to extend the debt ceiling. The budget compromise won 285-144, a larger margin than anticipated. The final act by the House funds the government until January and allows the Treasury […]
Maine is one of the States Most Adversely Affected by the US Government Shutdown!
According to analysis by personal-finance site WalletHub,Virginia, Alaska, Alabama, District of Columbia and Maine are the five states most affected by the shutdown. In the past couple of years, the small businesses in the states listed above have had the highest rates of borrowing when it comes to SBA-guaranteed loans, according to WalletHub’s research. All […]
Franchisees Suffer as Shutdown Hurts Sales, Expansion Plans
Excerpts below are from an article written by Kate Taylor at Entrepreneur.com As the government shutdown drags on, some franchise owners have struggled with sales while others have been forced to put their expansion plans on ice. Last Thursday, Ron Putman was ready to serve 35,000 estimated attendees at the Miramar Air Show in San Diego. […]
Maine Lender to Support Small Business Owners
Bill Whitmore, who has operated franchised fitness centers, will offer financing and other business services. He has launched a new lending institution focused on providing commercial financing to the region’s entrepreneurs, franchise owners and small-business owners. Whitmore has operated and sold several Planet Fitness franchises in Maine, said in a news release that his latest […]