Texas Business Startup Guides
Start a Business in Richardson, Texas
Are you starting a business in Richardson, Texas? This article discusses the most important things to consider when opening a business in Richardson.
Will You Be a Good Entrepreneur?
Being an entrepreneur is demanding, much harder than working as an employee. Are you certain you have the stamina and skills to succeed on your own?
With so much at stake when you start a business, we strongly recommend you do the following before you proceed:
- Speak with other entrepreneurs in Richardson. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- You should read The Entrepreneurial Personality. It's a good read for those who are thinking about becoming an entrepreneur.
- Reach out to a trusted acquaintance. Others sometimes know you better than you know yourself.
What Type of Business Should You Start?
An important decision is what kind of business you want to start. To help you decide on a business type, we encourage you to read Business Ideas That Don't Make Sense.
For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Composites Manufacturers Business guide or our How to Start a Glass Bending, Beveling, Drilling, & Grinding Business guide.
Always keep in mind that you are starting a business in Richardson. Some businesses will do better in Richardson than others. Don't forget to review Richardson demographics to see if there's a market for what you want to sell.
Richardson, Texas Demographic Information
Richardson has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Richardson demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Richardson.
Businesses
As a new Richardson entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Richardson 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.
Businesses
Forming a Company in Richardson, Texas
It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
When forming a company, you will pick from many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating 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. In fact, you can incorporate in the state of your choosing. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
There are many nuances to forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Piercing the Corporate Veil. You may also want to seek the advice of an lawyer. On a final note, since you will be starting a business in Richardson, Texas, our web page covering Incorporating in Texas may be a useful resource if you decide to incorporate in Texas.
Startup Financing Basics
Raising money to fund your new Richardson business will be harder than you might expect. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.
Take advantage of our many articles on securing funding, such as 504 Loans.
For Richardson entrepreneurs on the hunt for startup funding, we have assembled a List of Texas Angel Investors and our List of Texas Venture Capital Firms.
Promoting Your New Business
To grow your Richardson business, you'll need to have a good marketing plan.
You can learn plenty about marketing on our site. Advertising in the Yellow Pages is an article that will stimulate a few thoughts on your marketing plan. That's just one of the many useful articles we have on Marketing a Small Business.
What's Next?
As an entrepreneur in Richardson, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
Our goal here is to promote the vitality and growth of small businesses in Richardson and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Richardson entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Richardson, Texas
Here are more links that we believe will help you be successful in starting a business in Richardson.
- Resources for Richardson, Texas Entrepreneurs - Browse a variety of resources we've collected to assist Richardson 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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