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Monday, April 23, 2012

Entrepreneurs are NOT Moving to Maine

Hi Gang:

Despite the hype, smoke and mirrors, entrepreneurs are NOT moving to Maine.

This is a very, very big deal.

Maine has always been a "generational" type of business environment, meaning businesses are handed down to kids, and grandkids.

In Rockland Maine, seven of the top construction companies were handed down to kids, the same is true for car dealerships, restaurants, motels, boats and lobstering.

On the surface, this looks fine.

But when you dig a little deeper you find no one is moving to Maine, with three exceptions: summer retirees (no businesses), welfare recipients (its easier than MA and NY), and families (employees, not business owners).

When new entrepreneurs, capital, businesses, ideas and ventures STOP coming to an area, the area falters, for many reasons.

Maine is in a depression. No one wants to say it. But it's an absolute fact.

What's more, the "golden thread" i.e. tourism is down big time.

Most tourists are NOT venturing deep into Maine's Vacationland (Downeast, Northern Maine, hunting lodges, backwoods fishing trips, etc.).

Most tourists are staying close to the major towns and cities like Portland, Bangor and Camden.

The reason entrepreneurs and business owners are not moving to Maine is three-fold in my opinion. The State of Maine is clueless when it comes to attracting legitimate (not government sponsored) businesses. The State of Maine is one of the worst states in the USA in which to do business (taxes, fees, rules, regulations, green politics, corrupt government, old boy network, transportation, Internet, fiber optics, entertainment, sports, etc. etc.).

Granted, there are few places more beautiful and breathtaking. And people will ALWAYS vacation in Maine. I love it here. I support people. I volunteer.

But honestly, we're getting to point where my wife and I could leave Maine for six months of the year, like tens of thousands of other people do. We may sell everything we have in Maine, and just rent an old cottage for the summer.

Maine has not changed its approach to entrepreneurs in the 20 years I've been here. I don't expect them to change during a severe depression. And like most of New England, I doubt much will change in the next 20 years.

Three of the best places to live, work and do business right now in the US is South Dakota, North Dakota and Alabama (all three states are running a surplus, and welcome entrepreneurs with open arms, low taxes and almost NO red tape).

That's it......

I don't often post political stuff. But this is not really political. It's about business opportunities.

Have fun and play nice.................

Marc Charles

PS Check out my books on for Kindle. Seriously's good stuff. Show me the it, rank it, and review it!


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