Q: Is Entrepreneurship for You?
A: Entrepreneurship is a great venture that can be very rewarding. But to become a good Entrepreneur you must plan, seek creativity, get ready for hard work and be disciplined enough to be your own boss. The Business Resources page has a list of additional resources.
Q: What risks are associated with being an Entrepreneur?
A: Entrepreneurs make independent decisions concerning their business. Entrepreneurs assume developing a plan for success, financial risk, making tough decisions, and knowing your customers.
Q: What business structure is best for my business venture?
A: The business structure you select will come with legal and tax implications. Seeking professional guidance is the first step to ensuring you select the correct structure for your business. In Texas, businesses operate in several types of business structures: (Examples: Sole Proprietorship, Limit Liability Company (LLC), Corporation, Partnership and S Corporation). For more information review the following site from the Secretary of State: www.sos.state.tx.us/corp/businessstructure.shtml.
Q: I need assistance in locating the proper license for my type of business? Is there a portal that assistance with referral and/or license referral information?
A: Many businesses do not need a business license in Texas. The Texas Department of License and Regulations is a good place to start in finding your proper license to operate in the State of Texas. www.tdlr.state.tx.us
Q: Where do I go as a business owner to gain information on state sales tax and sales tax permits?
A: The Texas Comptroller of Public Accounts issues sales tax permits for businesses operating in the State of Texas. The office can provide information on collecting taxes associated with your type of business. www.cpa.state.tx.us.
Q: Does my business structure need a Employer Identification Number (EIN) is also know as a Federal Tax Identification Number, and used to identify a business entity.
A: The Internal Revenue Service (IRS) offers a free service online to identify your business need for an EIN. The IRS offers an online questionnaire to determine your eligibility for an EIN. IRS Employer ID Numbers webpage.
Q: I’m a business-owner that just moved to Austin, Texas. Where can I go to get local information that will assist with starting my business?
A: The City of Austin has a Small Business Program located in the Economic Development Department. The Small Business Program can help support your job creation, growth of new and existing businesses with resources, counseling and capacity building information. Austin Small Business Development Program webpage.
Q: Does the State of Texas offer financial assistance for job training? My business is growing and employees need additional training.
A: The Texas Workforce Commission offers The Skills Development Fund that provides training through technical colleges, Workforce Development Boards and development partners. Texas Workforce Commission administers the funding for the program. The Skills Development Fund can customized job training depending on your business needs. www.twc.state.tx.us/businesses/skills-development-funds-employers.
Q: What certification programs are available to small, women & minority businesses owners in the State of Texas?
A. In the State of Texas several agencies offer certification for small, women & minority owners. Certifications are obtained from several state and local agencies. Certification include some of the following Historically Underutilized Businesses (HUB), Disadvantage Business Enterprise (DBE), Women-Disadvantage Business Enterprise (WBE) and Minority Business Enterprise just to name some of the more popular certifications. For more information and referral to gain the certifications contact the City of Austin has a Small Business Program located in the Economic Development Department. www.austintexas.gov/department/certification-small-business-enterprise-sbe or www.cpa.state.tx.us/procurement/registration.
Q: How do I find out about purchasing programs and contracts offered that can help me grow my small business?
A. The State of Texas through the Comptroller of Public Accounts, State Purchasing program provides the State of Texas CO-OP Purchasing Program. To locate local purchasing and contracting programs go to your City and County websites to search their Purchasing departments for more information on programs.
Q: How do I stay connected with the changing world of business?
A. Staying connected is the most important part of being in business. One way is to partner with GMZBIZ. GMZBIZ holds meetings for entrepreneurs and business owners to gather and discuss business trends and exchange ideas. Another way is to get involved in your local Chambers and business organizations to become a valuable part of your community.