EDUA 7300 Final project Oct 2024

Presented by Jessika Ledezma EDSR 7300

How to start a small business

Start

Eagle Pass office

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Jessika Ledezma Business Advisor SRSU-RGC Small Business Development Center

3107 Bob Rogers Dr., Eagle Pass, Texas 78852 830.758-5022 Proud Member of the Texas South-West SBDC Network

Find your SBDC

What is an SBDC?

The Small Business Development Center (SBDC) is a network of centers across the United States that provides support and resources to entrepreneurs and small business owners. SBDCs offer free or low-cost consulting services, workshops, and training on various aspects of starting and managing a business, including business planning, financing, marketing, and regulatory compliance. They seek to help small businesses grow and succeed by providing access to expertise, resources, and networking opportunities tailored to the needs of local communities.

Click on each objective to go the specific slide

Explore Additional Resources

Build Your Brand

Establish a Strong Foundation for Growth

Obtain Necessary Licenses and Permits

Choose a Legal Structure

Objectives

Workshops and Training Programs

Free or Low-Cost Resources

Personalized Business Consulting

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Why It's Important to Seek Help from the SBDC When Starting a Business?

sTEPS TO START A SMall BUSINESS

Selecting a Legal Strucure

Sole Proprietorship

A sole proprietorship is the simplest form of business, but it comes with personal liability. You and the business are considered the same legal entity, which means you have full control, but you’re also personally responsible for all liabilities.

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Corporation

A corporation offers the most protection from personal liability but comes with more formal requirements. Corporations are more complex but offer the most protection.

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Limited Liability Company (LLC)

A Limited Liability Company (LLC) offers liability protection while maintaining some flexibility in management. LLCs are popular among small businesses for this balance of benefits. A They can be owned by a single individual or by multiple people.

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Partnership

A partnership is when two or more people share ownership of a business. It’s relatively easy to form, but it requires clear agreements between partners to avoid disputes down the line.

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Federal licenses and permits

Texas Business Licenses & Permits Guide

Most Commonly Required Permits in EP

Licences and permits

Local

Every business needs to comply with local regulations, and this often means obtaining permits or licenses from your city or county. Depending on your city, you may need local business licenses to operate. Local permits vary depending on your business location and type.

State

State permits and licenses are often required, especially for businesses that engage in certain activities or professions. Each state has its own set of regulations, and complying with them ensures your business can legally operate and avoid penalties.

Federal

In addition to local and state requirements, certain businesses also need federal permits or licenses to operate legally. At the federal level, many businesses must comply with additional regulations depending on the industry in which they operate.

Texas Online Tax Registration Application

Texas State Comptroller

In Texas, the State Comptroller plays a key role in regulating businesses, particularly when it comes to taxes. In Texas, businesses need to register with the State Comptroller for tax purposes. If your business will be collecting sales tax, you will need to register with the Comptroller’s office. Make sure to familiarize yourself with the deadlines to avoid penalties.

Apply for an EIN online

Employer Identification Number (EIN)

An Employer Identification Number (EIN) is like a Social Security number for your business. EIN because it allows you to open a business bank account, apply for business licenses, and file tax returns. Applying for an EIN is free and can be done quickly through the IRS website.

When hiring employees, define roles and comply with labor laws.

Hiring the right employees is crucial for the success and growth of your small business.

Forms for New Employees

Employee Hiring Process

Effective hiring processes help you attract and retain talent, reduce turnover, and enhance team performance.

Best Practices for Small Business

Is important for tax preparation and legal compliance.

Helps manage finances and track growth. Record keeping is crucial for the success of any small business

Recordkeeping

Ensures legal compliance, reduces the risk of penalties, and helps evaluate performance and identify trends and areas for improvement.

Marketing is a critical component of any successful business. Start by identifying who your customers are and how you can meet their needs. Marketing is key to growing your business. Use online platforms to build your brand. Click on each circle to learn tips on each platform

Marketing your business

Additional Resources

Rio Grande College- SBDC Website

Small Business Administration

Eagle Pass Chamber of Commerce

SCORE

Test your Knowledge!

Test your Knowledge!

thank you!

8 steps of the selection process for hiring employees. Recruiting Resources: How to Recruit and Hire Better. (2024, April 16). https://resources.workable.com/tutorial/employee-selection-process Apply for an employer identification number (ein) online. Internal Revenue Service. (n.d.). https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online Boyarsky, K. (2024, July 16). 50 small business marketing ideas for 2024. HubSpot Blog. https://blog.hubspot.com/marketing/small-business-marketing-guide Employer and Tax Information. Texas Secretary of State . (n.d.). https://www.sos.state.tx.us/corp/tax.shtml How to choose your business structure. BDC.ca. (n.d.). https://www.bdc.ca/en/articles-tools/start-buy-business/start-business/advantages-different-business-structures Small Business Development Centers (SBDC). U.S. Small Business Administration. (n.d.). https://www.sba.gov/local-assistance/resource-partners/small-business-development-centers-sbdc Images retrieved from Canva

References