Business in Portland, ME
About the business:
The prospective business will be a tech-startup involving digital gifting solutions, and the site will include all the leading brands of the world from a low-cost to a premium designer gift. However, it is important for us to choose the base our start-up and also to pen down the reasons as why we will prefer that location or country. Hence, in this report we will now evaluate the external environment and opportunities in Portland, Maine for tech-startups. Since the nature of business is not limited to consumer geographic zone, the primary concern here will be to evaluate the present tech-environment in the nation and if the authorities provide any assistance to the tech-startups:
External Opportunities:
i) Tried and Tested destination for tech-startups:
In a recent survey of the ‘’under the radar’’ tech cities, Portland ranked five from the top. This is one of the biggest attractions for setting up a tech-start up here because as reported, in the recent years, more and more innovative tech-startups are settling down in Portland Maine and have found success and growth. In addition, as reported by Maine Center for Entrepreneurial Development (MCED), Portland, the year 2015 will be a breakout for the tech-companies both established and also for the one who are willing to live and work in Maine now. Hence, we can be sure at least on the point that the nation does have a conducive environment for tech-startups. Important to note, Maine is also a home to the big tech-giants such as CashStar and Big Room Studios.
ii)Assistance by Tech communities:
Unlike the previous years, when technical land space was quite limited, at present, the support, collaboration and an educative assistance offered by technical communities are enduring many new technical entrepreneurs to launch their start-ups in Maine. The largest community to help the startup companies is Maine Start-up & Create that organizes an eight-day event in June and provides assistance to the start-up companies.
iii)Site Location assistance by EDD:
Just like any other business, one of the most crucial decisions a technology business company needs to take is the location of his start-up. As for the tech-startups, an entrepreneur will always prefer to plant his company at the site where they will be surrounded with tech-savvy young professionals anxious to learn and launch their careers. In addition, the cost of the city, infrastructural facilities, etc. is other factors that come into consideration while selecting the work location.
Hence, in order to provide assistance to the tech-startups, Economic Development Department, Maine assist with confidential site location to startup and grow the business.
Conclusion:
Hence, considering the present environment in Maine that is booming up with the success of technology based companies and in addition, the support offered by local tech communities and friendly support from the government departments, it is reasonable for us to assume that our retail tech-startup will be successful.
Works Cited
Doing Business in Portland. 8 October 2014 <http://www.portlandmaine.gov/DocumentCenter/Home/View/1469>.
