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Starting a Business

My partners and I are opening up a retail location, should we keep the existing name of our online store?

Business owners have flexibility in naming their businesses subject to any registered or common law trademark restrictions and any state business entity or state/local trade name registration restrictions.

I am a 75% shareholder of my corporation, what operating agreement do I use?

Typically, any buyout contingency plans for partnerships or corporations are outlined in a buy/sell agreement. For consideration and drafting with your lawyer, you can locate sample buy/sell agreements (some free and some for a fee) that you can copy…

How do I get a Dun & Bradstreet number for my new greeting card business?

Just like with other types of products, there is significant competition for shelf space at retailers to display greeting cards – gift shops, grocery stores, drug stores, department stores, etc. Also, the approved supplier and purchasing processes vary based on the size and type of retailer – independent, franchise, national chain, etc.

I am looking at buying a franchise-based business, what are the major concerns to look for with owning a franchise company?

Due to the risk and work involved in starting a new business, many new entrepreneurs choose franchising as an alternative to starting a new, independent business from scratch. Also, surveys show that the success rate of franchised businesses is much higher than for businesses started from scratch.

What is the best way for me to find some candidates for an IT business in Austin, TX?

The IT industry includes several segments – software program development, consulting, gaming, networking activities, hardware, facilities management, data processing, data hosting activities, Internet services, telecommunications, etc.

I have heard that if you believe in yourself/your business enough, you should use a credit card to get it started. Is this good advice?

Credit card debt isn’t all the same. Some people go deeper in debt than others, some have more resources than others as a safety net. Go into these dangerous waters very carefully, with a serious business plan, and a lot of thinking to provide a foundation to your decision to take this kind of risk.

What does it take to qualify for a business loan?

Start by understanding that this area is governed by banking law designed to protect depositors’ money from banks taking too much risk. So most of what they require is not up to them and not a matter of how good your business is or isn’t.

Can I get a loan for consolidating business loans together and how do I go about applying for them?

Checking with your current lender or lenders would be the first place to inquire about the availability of and requirements for a consolidation loan. Provided that your business is financially stable and generating sufficient cash flow to service any consolidated debt, has a satisfactory credit rating, and has remained current on its existing loans, your current lender or lenders will be the most likely sources for an affordable consolidation loan.

What info can you provide on how to set up and manage an Advisory Board?

The setup and management of an Advisory Board will depend on the objectives and goals you have and what you can afford to spend on a Board. Advisory Boards and Committees are often utilized by large companies; however, in some cases, more professional experience can also provide business ideas and help a small company to be successful.

I’m thinking about hiring my first employee. What should I do?

When growing a business, entrepreneurs typically reach a point in the process where they must consider the prospect of adding staff. There are several important things to consider when hiring employees, which include: labor laws, compensation structure, fringe benefit programs, and workers’ compensation.

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