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Although new businesses fared well in 2020, the fourth quarter was not kind to new business enterprises. According to Reuters, business formation in the fourth quarter of 2020 was down 28.5%. Not surprisingly, the coronavirus pandemic was especially brutal for...
Having an idea for a business venture is an important part of getting on the road to entrepreneurship. However, it is also essential for budding entrepreneurs in Texas to have a concrete vision of what they want and expect from their endeavors. Without being able to...
An S-corporation, or S-corp, is different from other business formation structures. LLCs and partnerships, for example, are business entities, while an S-corp is an election taken by business owners for tax status. It is a tax election that can apply to different...
When thinking about making a career change, it is important to consider the pros and cons as well as the likelihood of success. Though many businesses have a difficult time continuing for a significant length of time, there are plenty of Texas companies that started...
The simple answer to this question is, "yes." Every limited liability company should have an operating agreement. Just because a Texas LLC only has one member and owner does not mean that this document does not serve any purpose. In fact, it is just as important as it...
Starting a business commonly means having to jump through various hoops before having a fully operational business. If individuals try to sell products or perform services without complying with the necessary state regulations, they could end up in serious trouble. As...
It's virtually impossible to run a business single-handedly. As a Texas company grows, owners often need help from employees and outside parties to handle tasks that they cannot realistically handle on a day-to-day basis. Often, owners will enter into contracts with...
Many Texas residents have ideas that they believe would be great for a new business. However, circumstances can often prevent individuals from pursuing those ideas. Hopefully, when the time is right, prospective entrepreneurs will move forward with starting a...
Try as they might to make solid plans, many people face unexpected events that can throw those plans off track. For example, many Texas residents may have been thinking about starting a business and felt that their time was coming. However, an economic downturn can...
The desire to becoming an entrepreneur can hit at any age. Some young people may know that they want to start a business for a specific purpose, and others may come to this revelation later in life after spending years of building experience to help them reach their...
