Texas Business Startup Guides
Opening a Business in Levelland, Texas
Contemplating starting a business in Levelland, Texas? We walk you through the process of opening a business in Levelland.
Are You Sure You Want to Do This?
Most new companies fail, in part because the business owner did not have the tenacity and/or the skills to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Talk to other entrepreneurs in Levelland. Ask them candidly what it's like to run a business.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
What Business to Start
An important decision is what kind of business you want to start. We recommend that you read Evaluating Your Idea.
If you still are not sure what type of business to start, peruse the Good Businesses to Start section of our site. For example, you might be interested in our Opening a Cast Stone Business guide or our How to Start a Temperature Controlled Storage Business guide.
Always keep in mind that your new business will be in Levelland. The business you want to start may already be well-represented in Levelland. A critical consideration is whether Levelland demographics mesh well with your startup concept.
Levelland, Texas Demographic Information
Levelland has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Levelland demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Levelland.
As a new Levelland entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Levelland 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.
Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.
As a final piece of advice, remember that because you are opening a business in Levelland, it's imperative that you check now that no Texas company has already registered the company name you have selected.
Forming a Company in Levelland, Texas
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.
When forming a company, you will pick from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very common way to legally create a business entity. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Texas, you don't necessarily have to incorporate in Texas. As it turns out, you can incorporate in the state of your choosing. 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 LLC Advantages. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Levelland, Texas, our web page covering Incorporating in Texas may be a useful resource if you decide to incorporate in Texas.
How to Improve Your Entrepreneurial Abilities
Good business owners recognize that they need to continually improve.
Given that you are starting a business in Levelland, Texas, you should get information on some of the learning programs at local Texas educational institutions. Another way to keep up on your learning is to investigate Levelland networking organizations.
Most new Levelland businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
We are here to help Levelland businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Levelland, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Levelland, Texas
Here are more links that we believe will help you be successful in starting a business in Levelland.
- Resources for Levelland, Texas Entrepreneurs - Browse a variety of resources we've collected to assist Levelland 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.
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