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Things to consider when operating a sole proprietorship

Due to the simplicity of the structure, many people opt to run a sole proprietorship when they go into business. However, for an individual to legally operate a business in Austin, he or she should consider the following things:

  • Possibility of getting a business license
  • Business registration required by the state or the municipality where the company will operate
  • Financial capacity of the entrepreneur to run a business
  • Possibility of transferring business ownership
  • Duration of business existence

People who decide to run their own business should seriously deal with the aforementioned things because the type of business you choose to pursue could make or break the success of your chosen venture. Though individuals can browse the Internet to educate themselves on how to become a sole proprietor, seeking advice from skilled business attorneys is essential because they are knowledgeable about the legal aspects of setting up a business. Speak with the attorneys at Adam Pugh today by calling (737) 261-0602 to learn more about your options.


Hiring in Texas increases in July as economy improves

A recent report revealed that more workers were hired in Texas last month as a result of continuous economic improvement in the state, an article of Dallas Business Journal reported on August 19.

The increase in workforce hiring was attributed to the improved economic improvement felt in Texas in the second quarter, veteran economist Keith Phillips said. A report of the Federal Reserve Bank of Dallas revealed that there were approximately 21,700 workers hired in July compared to the 16,700 recorded hires in June. Phillips also said that many employers are getting more active in advertising jobs as they open up job opportunities. The workforce in Texas this year is estimated to reach 96,200.

Starting your own business can be exciting as the economy continue to improve. If you want to know how you can run your business smoothly in Texas, an attorney at Adam Pugh may be able to help you. Call our office today at (737) 261-0602 to find out how we may work on your behalf.


Ways to fund a small business

No matter how promising your business idea is, you will need to figure out where to find the funding to turn your idea into a reality and start making money from it. While there are individuals who have enough money saved or decide to use their assets to start a small business, many business owners do not consider this approach because it will risk their personal financial health. Below are some other ways individuals could receive funds for their business.

  • Consider getting a commercial loan offered by a private financial institution. There are banks and credit card companies that offer financial assistance for small businesses.
  • Individuals may fund their business by looking for partners who are willing to invest in their business in exchange for a business ownership share. This option is worth considering if you have a poor credit history and cannot obtain a loan.
  • Individuals may seek the help of the Small Business Administration (SBA) or another federal or state agency that offers financial support to small business owners.

If you are looking for advice on how to finance your small business, discuss your situation with an attorney at Adam Pugh in Austin. Call our office today at (737) 261-0602 to find out how we may help you start your small business.


Texas faring better as country’s economy slows

An economist recently observed that Texas’ economy performed slightly better than other states in the second quarter, an article of WBAP reported on August 1.

According to Southern Methodist University economist Dr. Bernard Weinstein, Texas did “fairly well” even though the nationwide economy barely reached a 2 percent increase in the second quarter. Though consumer spending is up, which is an important factor in a healthy economy, Weinstein noted that fewer businesses are making new investments. Weinstein explained that job creation is hurt when businesses do not make new investments in plants and equipment. Last year, the Texas economy created 175,000 new jobs, down from the 300,000 created two years ago. 

If you plan to contribute to the U.S. economy by running your own business, the Texas business lawyers at Adam Pugh may be able to work for you. Find out how we can provide you with fresh ideas on how to operate legally by calling (737) 261-0602.

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Learn more about how we can handle your business’ legal needs.

Contact our offices today at (737) 261-0602 to speak with a qualified member of our legal team.