Everything is bigger in Texas, right? While this may be the case with many things, from food to gas stations, it doesn’t always hold true in the business world. There are more than two million small businesses located throughout the Lone Star State.
The Texas Economic Development Division helps small businesses get off the ground. Through its Texas Wide Open for Business program, it is easy for entrepreneurs to collect the information necessary to make informed decisions during the startup process.
The program doesn't overcomplicate the process of starting a business. Instead, it outlines four basic steps that any new business owner can follow:
- Choose a business structure and name.
- Determine the tax responsibilities of the new business (federal, state, and local).
- Obtain the appropriate business permits and licenses.
- Learn more about business employer requirements, including federal and state laws.
The Texas Secretary of State website also provides detailed information, guidance, and advice for starting a small business. For example, it links out to a variety of startup guides and small business resources.
The Texas Workforce Commission takes a similar approach to the agencies detailed above, however, it is geared toward both startup companies as well as those that are interested in expanding. This resource helps you register for an unemployment tax account, which is something new companies are required to do "within 10 days of becoming liable under the Texas Unemployment Compensation Act (TUCA)."
Final note: some organizations provide startup assistance to business owners in a particular region. For example, the North Texas Small Business Development Center and the official website of the City of Austin may be able to help (depending on your location).
If you live in Texas and have big dreams of starting a small business, all you have to do is follow a few simple steps. It won't be long before your business is set up.
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