Texas Business Startup Guides
Open a Business in Amarillo, Texas
Need help starting a business in Amarillo, Texas? We've got the information you need to open a business in Amarillo.
Are You Ready for the Challenges of Being an Entrepreneur?
An entrepreneurial life is hard work, much harder than working as an employee. Are you sure you want to start a business?
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Talk to other entrepreneurs in Amarillo. Listen closely to their experiences and see if you think you too can be successful.
- We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
- Have a candid conversation with friends and family. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Amarillo, Texas Demographic Information
Amarillo has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Amarillo demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Amarillo.
As a new Amarillo entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Amarillo for each business category. By looking at this chart, you can get a general sense for how much competition there is in the business niche that you are pursuing.
Picking a Company Name
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.
For other considerations regarding naming a company, we recommend this article: Naming a Business.
There's one other important factor when naming a business. Since you are starting a business in Amarillo, it's critical that you ensure that no other Texas company is using the business name you want to use.
Forming a Company in Amarillo, Texas
It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will protect you from personal liability for business debts and obligations.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Texas, you don't necessarily have to incorporate in Texas. In fact, you are allowed to incorporate in any state you would like to. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as ESOP Formation. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Amarillo, Texas, our information on Incorporating in Texas may be a useful resource if you decide to incorporate in Texas.
Startup Financing Basics
Getting your Amarillo business the capital it needs to succeed is a difficult chore. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Getting a Small Business Loan.
Ramping Up Sales
Do you know how to sell? In order to attract customers to your new Amarillo business, you need to focus on sales.
Good selling involves demonstrating that your wares meet your customer's needs. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Never Give Up
As an entrepreneur in Amarillo, you won't be working for the boss anymore. You are the boss.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Amarillo businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Amarillo, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Amarillo, Texas
Here are more links that we believe will help you be successful in starting a business in Amarillo.
- Resources for Amarillo, Texas Entrepreneurs - Browse a variety of resources we've collected to assist Amarillo entrepreneurs.
- Texas Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Texas.
- Houston, Texas Small Business Development Center - Serving 32 counties in Southeast Texas through 14 business consulting and training centers, the Small Business Development Center Network contributes to the growth and prosperity of the Texas Gulf Coast communities.
- North Texas Small Business Development Center - The NTSBDC Network promotes small business success by providing management education.
- Northwest Texas Small Business Development Center - The Northwest Texas Small Business Development Center was established with Texas Tech University in 1986. This regional program serves over ninety thousand square miles including ninety-five counties with a population base of approximately 1.8 million people. This region is serviced by six centers located in Lubbock, Amarillo, Midland/Odessa, Abilene, Stephenville, and Wichita Falls.
- South-West Texas Border SBDC Network Texas Small Business Development Center - The South-West Texas Border Small Business Development Center (SBDC) provides consulting and technical assistance to the small business community.
Starting-a-Business Guides for Other Cities in Texas
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