Business Start-Ups

The importance of laying a solid foundation for your startup cannot be understated. In the excitement of planning for the launch of your new company, it can be tempting to press forward and leave some of the seemingly mundane tasks by the wayside. Formalities and legal protections, the things that may seem not so thrilling, can be incredibly important.

Take company bylaws, for instance. This is the document that will set forth the business of your business.

There is no way around it, starting a new business is tough. It does, however, come with big potential rewards. You have the opportunity to be your own boss and build something from the ground up. Business start-up leaders pour their hearts, souls, time, and money into these ventures and the payoffs can be significant on a number of levels. Before launching your business start-up, you would be well served to confront and tackle some of those top challenges that all business start-ups seem to be facing these days.
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So, you have decided to make the dream of owning your own business a reality. Congratulations! Being a business owner can be a great and rewarding endeavor. To build your business on solid ground, you will want to take care to do your research, check-off all of your to-do list items, and be sure to observe all of the red tape and formalities that lie in wait for you. Believe us, taking your time at the start of things to be sure you are forming your business on solid ground will be more than worth it as you watch your business thrive from here on out!

The Basics of Starting Your Own Business

Before getting into some of the finer points of starting your own business basics, it is worth mentioning that some entrepreneurs looking to start their own business often end up considering buying an existing business instead of starting a new business altogether. Buying an already existing business has many advantages as there is already the main business structure in place.
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Have you come up with a great business startup idea? It can spark excitement like a few other things. The idea, however, is just the beginning. There are many steps to take before you can make it a reality.

Starting a business is a substantial undertaking and one that is very exciting. There are so many businesses that develop each year. Many of them have big dreams and great ideas. Unfortunately, many Read more . . .

Texas Business Law Attorney

Putting that entrepreneurial spirit into action and forming your own business is a big step. Starting a business is the time to put all of those exciting ideas into a more detailed and concrete plan that will lay the foundation for its future. The Kumar Firm takes great pride in providing trusted legal counsel to those who are looking to start their own business. It is a journey filled with important decisions and legal considerations. The Kumar Firm will help you navigate these waters and help set your business up for success.

What are the Steps to Starting a Business?

The first step to starting a business is to develop a solid business plan. Get down into the specifics of what your business will look like. You will need to answer some tough, but necessary questions about your business such as:

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.

What makes Austin an ideal city for startup businesses?

The Austin Business Journal recently released its list of the fastest growing companies in the city. Companies were divided into two categories, one for companies with annual revenues of less than $10 million and another for companies bringing in over $10 million a year.  These winners represent the high growth atmosphere of industries within Austin and the state of Texas.  Our Austin, Texas business startup attorneys explore some award winning companies in the area and discuss why Austin may be the perfect place for your new business.  

What are the steps to starting a successful new business?

Wallet Hub recently released its list of the best states to launch and grow a business. Once again, Texas came in as number one. The study compared 25 key business indicators across 50 states. Factors considered include the business environment, business cost, and access to resources, among others. Texas ranked high in several categories, taking the lead in the business environment.

How do I start up a small business?

Owning your own small business is the American dream for many.  While coming up with a dynamic concept is an important step to any startup, your idea is just the launching point for your successful business.  Our Austin, Texas business law lawyers discuss how you can grow your business from an idea to a full-fledged business.
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