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$35,000 Houlton Entrepreneur Challenge to be Announced

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HOULTON – A press conference will be held at 12:30 p.m., Monday, May 23 at Watson Hall, 116 Main Street in Houlton during a regular meeting of the Houlton Rotary Club.  The press conference will serve as the official announcement for the $35,000 Houlton Entrepreneur Challenge presented by the Town of Houlton, Southern Aroostook Development Corporation and major financial partner Machias Savings Bank.  The Entrepreneur Challenge is a competition to start or expand a business in Houlton.  The prize features a $25,000 forgivable loan and several business incentive prizes.

  • WHAT:        $35,000 Houlton Entrepreneur Challenge Press Conference
  • WHEN:        12:30 p.m. – Monday, May 23
  • WHERE:      Watson Hall, 116 Main Street, Houlton
  • WHO:         
    • Nancy Ketch, Community Development Director, Town of Houlton
    • Jon McLaughlin, Executive Director, Southern Aroostook Development Corporation
    • Local business leaders and Houlton Rotarians

WHOU will be livestreaming this event starting at 12:30 PM on Monday, May 23rd

Limited Liability Company in Maine

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Do you have a business idea or an existing business you want to expand? You may want to consider forming a limited liability company for your business.

A limited liability company, or LLC, is a business entity that offers personal liability protection for a business owner. Operating through an LLC is an effective way to separate the personal assets of an owner from the assets of a business.

An LLC can also offer tax advantages that are not available to individuals operating a sole proprietorship or operating as a DBA.

An LLC can also provide additional credibility to your business in the eyes of prospective partners, customers, suppliers, and lenders.

Whether you are a small business owner or a group of like-minded business associates who are considering working together, an LLC is an excellent vehicle to provide structure to the business deal while at the same time providing limited liability for those involved.

If you have questions about an LLC or any other business related question, contact the Southern Aroostook Development Corporation at 521-0157.

Choosing a Business Name

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Do you have plans to start your own business in or around the Houlton area?

Choosing a name for your business is an important step in the planning process. Not only should you pick a name that reflects your brand identity, but you also need to ensure it’s properly registered and protected for the long term.

When choosing a name – consider how it will look, what connotations does it portray, and it is unique?  Do a quick web search to see if a similar name, or variations of it, is trademarked.

You’ll also need to register your business name.  Registering your DBA “Doing Business As” name is simply the process of letting your state government know that you are doing business as a name other than your personal name or the legal name of your partnership or corporation.

After your business name has been established, there are various types of business insurance that should be considered.  Most will require some type of general liability insurance and many businesses obtain an “umbrella policy” that covers a variety of risks including personal property, liability, fire, and theft.

Learn more about how to get your business started at maine.gov.

CHOOSING A BUSINESS NAME

Recorded by Krista Putnam