2019 Small Business Resource Guide 2019 Small Business Resource Guide | Page 6

S TA R T I N G A B U S I N E S S
STARTING A BUSINESS
TOP TEN
FIRST STEPS
DETERMINE THE LEGAL
STRUCTURE OF YOUR
BUSINESS REGISTER A
BUSINESS NAME
(“DOING BUSINESS AS”)
Decide which form of ownership is
best for you: Sole Proprietorship,
Partnership, Limited Liability
Company (LLC), Corporation, or
S-Corporation. Depending on your legal structure,
you will need to register your
business name with Tarrant County
and/or the State of Texas. You can
visit the Tarrant County Clerk’s
Office for more information on
Assumed Names or “Doing
Business As” (DBAs).
See page 22.
See page 24.
Starting a business involves planning, making key financial decisions and
completing a series of legal activities. These 10 easy steps can help you plan,
prepare and manage your business.
WRITE A
BUSINESS PLAN
A business plan is an
essential roadmap
for business success.
This living document
generally projects 3-5
years ahead and outlines
how a company intends
to grow and sustain
revenues.
GET BUSINESS
ASSISTANCE
AND TRAINING
Take advantage of free
training, counseling,
and networking
opportunities provided
by local organizations
in Arlington. From
preparing a business
plan and securing
financing to expanding
or relocating a business,
local organizations in
Arlington provide free
training and counseling
to both start-ups and
existing businesses.
Local workshops are
also available and
cover topics such as
accounting, marketing,
and financing.
CHOOSE A
BUSINESS
LOCATION
Choosing the right
location can be vital
to the success of your
business. Luckily,
there are free market
research tools available
to help you select the
perfect site. See page
43. Additionally, it is
important to check the
zoning of your site to
comply with the City of
Arlington’s zoning laws
and ensure the property
is properly platted.
FINANCE YOUR
BUSINESS
Learn how to obtain
financing and find
government backed
loans to help you get
started or expand your
business. There are
many other funding
options for your
business including
venture capital and other
non-traditional financial
vehicles.
REGISTER FOR FEDERAL,
STATE AND LOCAL TAXES
In most cases, businesses will need a
Texas State Tax ID Number if you
plan on selling tangible property,
leasing tangible personal property
or selling taxable services in Texas
(sales tax permit). See page 34.
Additionally, most businesses will
need a Federal Tax Identification
Number (EIN) to file taxes at the
federal level or for other functions
such as applying for a business
bank account or hiring new
employees. See page 30. If you have
a commercial business location, you
will also be responsible for property
taxes.
See page 35.
OBTAIN APPROPRIATE
BUSINESS INSURANCE
Learn about the different types of
insurance needed to sell products or
services. In some cases, businesses
are required to have bond or general
liability insurance.
OBTAIN BUSINESS
LICENSES AND PERMITS UNDERSTAND EMPLOYER
RESPONSIBILITIES
Get a list of federal, state and local
licenses and permits required for
your business. For example, if you
are seeking to open or expand a
food establishment, you may need
a health permit. See page 18. Or, if
you plan to operate a home-based
business, you may need to apply for
a permit. Learn the legal steps you need
to take to hire employees. There
are multiple laws relating to
employment of personnel, and
you may be liable for workers’
compensation and unemployment
taxes.
See page 36.
See page 20.
See page 8.
See page 12.
See page 50.
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