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Business Formation

Friday, November 30, 2018

Funding Your Startup Business

What are my funding options if I cannot secure a bank loan?

Your first challenge as a new business owner is often determining how to finance your venture.  Nearly every business will require some sort of capital to start off strong.  To launch your startup, you may need to hire new employees, rent a space, invest in new equipment, market your business, and the like.  With interest rates rising and banks more closely scrutinizing loan applicants, many new business owners are turning to alternative funding options.  Our Austin, Texas business startup attorneys explore your options when it comes to funding your new venture below.

Small Business Loans

Perhaps the first avenue that comes to mind for raising funds for your business is a small business loan. Banks offer small business loans, but it can be hard to qualify.  Most banks will require a stellar credit score, strong business model, and at times previous business success.  Many new business owners will find themselves denied by large banks.  Alternatively, there are several lending companies that may have looser criteria for a loan.  It is vital that you research these lending companies, as some will charge exorbitant interest and could use predatory methods.  Your business startup attorney can help by reviewing any potential lending agreement to uncover predatory lending schemes.


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Friday, May 18, 2018

Selecting a Business Entity Under the New Tax Code

How has the new tax code altered business taxes?

The business world is abuzz with talk of how the new tax code may impact numerous critical aspects of a business’ taxes. Selecting a business entity for your new business has long been a critical decision for business owners. Your business entity will determine how you are taxed, as well as vital issues of liability and control over the business. Due to the tremendous impact of your entity choice on your taxes, it is possible that the new tax code could alter the entity choice of some new business owners. Our


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Friday, March 23, 2018

Opening a Liquor Related Business in Texas


How long does it take to obtain a liquor license in Texas?

Starting your own liquor line or opening a liquor store can be a profitable endeavor. Alcohol tends to have high profit margins, but opening a liquor related business comes with some challenges. You will need to meet stringent liquor licensing requirements in the state of Texas. The process can take months and not all applicants will ultimately succeed. Our Read more . . .


Friday, August 25, 2017

Forming a Corporation for Your New Texas Business


How do I form a corporation in Texas?

Selecting a business entity for your new venture is a critical step.  While there are several potential business structures to choose from, corporations have long been one of the most popular business entities.  If you have determined that a corporation is the right business structure for your business, you will now need to take the appropriate steps to form your corporation.  Our Read more . . .


Sunday, August 20, 2017

Selecting a Registered Agent for Your Texas Business


What is a registered agent?

You’ve taken the first steps towards starting your new business by selecting a business entity, but now you need to choose a registered agent for your business.  Naming a registered agent may seem like a formality, but it can have important implications for your business in the future.  As such, it is imperative that you understand the role of a registered agent and what you should know before choosing your agent.
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Thursday, March 16, 2017

Forming a Partnership in Texas


What are the advantages and disadvantages of a partnership?

Selecting a business structure is one of the most important decisions you can make for your new business.  Your business structure will impact your ability to grow and raise capital, designation of business duties, taxes, and much more.  For business owners with a partner, the most obvious choice for your new business may be a partnership.
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Sunday, February 26, 2017

Lubbock Becomes the Franchise Capital of Texas


What steps should I take if I am considering opening a franchise?

Franchise businesses are booming in Lubbock, Texas and across the state.  In recent years, entrepreneurs have flocked to Lubbock to open a wide array of franchises.  Well known businesses like Dunkin’ Donuts, Panera Bread, Baskin-Robbins, and BurgerFi are experiencing success in the region, despite initial concerns from national franchise corporate owners.  As a smaller city, some franchise owners were reluctant to open locations in Lubbock, but attractive real estate prices and a strong customer base have leant themselves to franchise success.  


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Wednesday, January 18, 2017

Starting Your Own Small Business in Texas


What steps should I take to open my own business in Texas?

So you have decided to open your own small business. Congratulations! You have taken an important step towards obtaining financial security and becoming your own boss, but there are several critical steps you must take to start your business off right.  Review our guide to opening your own small business in Texas and contact our Austin, Texas business startup and formation lawyer at the Kumar Law Firm PLLC when you are ready to get started.


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Thursday, June 30, 2016

Medical Marijuana Business Expected to Grow in Texas


What is the state of the medical marijuana industry in Texas?

For some time it has been known that marijuana has many medicinal uses. Over the past couple of years there has been huge support for legalizing marijuana for medical use. Legislators finally listened and many states have passed laws that make it legal to use certain forms of the drug in these instances. So what are the business implications of legalizing pot? We can get a good idea by examining the happenings in our Southern most state.

One state that has recently passed a


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Saturday, May 28, 2016

Austin Food and Beverage Start-Ups Attract Venture Capital


Start-ups based in Austin, Texas have faced some headwinds in the past year, with reports showing a decline in new venture capital investment. In the first quarter of 2016, Austin start-ups suffered a 49% decline in investment. Experts say venture capitalists lost enthusiasm because of economic unease and high valuations on untested start-ups.

But there has been at least one bright spot: the food and beverage industry. Start-ups offering consumer packaged goods ranging from healthy snacks to gourmet cider have attracted new investment interest even as others have suffered setbacks.


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Monday, May 2, 2016

Partnership Dispute Over YouTube Channel Offers Lessons for Start-Ups


What basic mistakes should entrepreneurs avoid when seeking investors?

A recent case decided in a Dallas, Texas courtroom shows that YouTube videos can be big business — and that traditional legal rules still apply to an area of the web that may seem like a free-for-all. The losing parties' response to the case also suggests that conduct that is commonplace online may not play well in court.

Avoid making unrealistic contractual commitments

The litigation centered on a partnership between two outside investors, David T. Moss and Brandon Keating, and YouTube channel owner/operators Brian Martin and Marko Princip, who were seeking funding for their videogaming channel. The outside investors signed a contract agreeing to put up $1500 in exchange for 30% ownership and 30% of the profits of the partnership for each of them.


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