Big Firm Experience With Small Firm Benefits

Possible financial resources to fund a small business

Here comes a typical scenario: You come up a brilliant business idea that you think could earn you a profit, but you hit a wall when you realize that you do not have the funds to start it. Potential entrepreneurs should know that there are several financial resources that they could tap to start their business.

Individuals who have been employed for many years could use their “401 (k)” often called the retirement savings plan. Potential entrepreneurs who have come up with a unique business model or set of products could try crowdfunding sites to ask people on the internet to finance their idea. For years, crowdfunding sites have helped many projects and businesses come true. Propose the business plan to an “angel investor” who might be interested in your idea. Individuals who have maintained appealing credit score could apply for a loan in banks offering business loans or in their credit card providers. Potential entrepreneurs should understand that there are advantages and disadvantages in any of the above financial resources and their decision could make or break the business.

If you want to know more about how you could get financial assistance to fund your small business in Austin, an attorney of Adam Pugh may work for you. Our skilled business attorneys may tirelessly work on your behalf to possibly support your business idea. Call us today at (737) 261-0602 to learn more about your options.

What individuals should know before buying a small business in Texas

Individuals who want to become business owners could opt to buy an existing business. Though there are several advantages of buying a business, it can also be risky and costly if business buyers make wrong decisions.

Individuals should understand that research plays a critical role when considering whether to buy a business. For example, potential business buyers could make a logical decision if they know why a particular business is being sold. An in-depth investigation is also important, especially if you have unanswered questions regarding the business. In Texas, business buyers may coordinate with local and state offices to get information about the business’ background. Business buyers may also want to study the financial statements of the business so they can know its actual assets and liabilities. Make sure you know all the laws and regulations concerning the operation of the business. Once you make up your mind and if you have the startup capital you need, you may want to offer a reasonable bargain to the business owner.

The Austin attorneys at Adam Pugh understand how risky it is to buy a business. If you are considering this investment, our experienced business attorneys may be able to offer you legal advice to make sure your interests while running a business are protected. Call us today at (737) 261-0602 to learn more about your options.

Things to consider when choosing a business location

Experienced business owners know how important it is to determine exactly where to open a business because it will help determine whether the venture will succeed or not.

When you are planning on starting your own small business, one of the factors to consider when looking for the “perfect” location is your plan and purpose. A restaurant business will likely fail if customers and suppliers are far from its location. When looking for a location, make sure your business complements other existing businesses in the area. Keep in mind that operating a business in cities is more expensive, versus when you decide to operate in a rural town. Minimum wage may also vary depending on the place you operate. Lastly, make sure to determine the particular legal requirements of the place you are looking to settle.

If you have difficulties determining where you will place your business, an experienced business attorney may be able to give you insights for the kind of business you want to operate. Find out how an Austin attorney of Adam Pugh may be able to work for you. Find out more by calling (737) 261-0602.

Understanding the professional corporation

Individuals in Texas who have completed a degree in the field of engineering, medicine, law, or education should know they can start their own business by providing services related to their profession.

Like in other states, professionals may start a “professional corporation” business in Texas if they think consumers or the general public have a demand for the kind of service they can offer. A person or group can offer “professional services” upon securing a license that allows them to perform or offer the practice and after they register with the Texas Secretary of State. Professionals considering this kind of venture should know they have to pay a $300 filing fee and state franchise taxes.

If you have decided to start your own business, enlisting a skilled business attorney is important, especially if you are unfamiliar with the intricacies of starting a professional corporation. Find out how an attorney of Adam Pugh in Austin could work for you today by calling (737) 261-0602.

Business trends that could earn you income in the year 2017

It is the time of the year when people brainstorm on what kind of business they could operate as the new year begins. Here are the following business trends that individuals may consider starting in the year 2017:

  • The real estate industry is expected to be in demand as the population and business entities continue to increase.
  • Manpower pooling is also expected to become a trend next year to compensate the increasing demand for booming businesses.
  • Wholesale industry
  • Businesses that provides logistic services
  • Electronic commerce (e-commerce) industry
  • Businesses that sell equipment
  • Businesses that provides outsource design and development services

In this exciting time in which you are planning to start your own business, seeking help from a legal counsel is crucial because you will need to comply with certain laws that could affect your investments. Get in touch with a lawyer of Adam Pugh in Austin today by calling (737) 261-0602.

Owners of Ramen Tatsu-Ya in Austin planing to put up another branch

Two business partners in Austin, who own a Japanese-inspired eatery serving ramen noodles, have plans of setting up shop in Montrose, an article of Austin Business Journal reported on November 11.

According to reports, chefs Takuya “Tako” Matsumoto and Tatsu Aikawa are planning to open another branch of “Ramen Tatsu-Ya” as part of their expansion. The new eatery will be located at 1722 California Street in Houston, and it will be their third branch to serve traditional Japanese foods. Aikawa and Takuya currently have branches on South Lamar Boulevard and near Ohlen Road. Ramen Tatsu-Ya is expected to compete with other promising ramen hubs in the Houston area.

Expanding your business can be exciting and stressful due to the amount of effort and money you must put in to make your plans happen. However, if you are considering business expansion in Austin, an attorney at Adam Pugh can offer legal insights to help lessen unforeseeable business risks. Learn more about your options from us today by calling (737) 261-0602.

Rights entitled to business “shareholders”

Any person, institution or a company who owns a portion of a company’s share can be considered as a “shareholder“. Also called “stockholders,” shareholders should be aware that they have rights, even if their presence is not critically essential in decision makings. Below are the following rights entitled to shareholders:

  • Right to get a portion of a company’s declared dividends
  • Right to decide on the business assets liquidation during critical times like bankruptcy and/or dissolution
  • Right to conduct inspections of the company’s transaction documents
  • Right to file a lawsuit against the corporation
  • Right to cast a vote for board directors or members, or make a decision if the business should be combined with other businesses

Shareholders in the corporate level should know that they could not be held liable if the company whom they partly own acquires too much debt from creditors.

If you want to know more about your rights as a business shareholder in Austin, get in touch with a Adam Pugh lawyer. Find out how we may work on your behalf today by calling (737) 261-0602.

Local permits needed when starting a business in Texas

Before you can legally operate a business in Texas you will have to deal with complicated paperwork and secure permits that are required by the state and the jurisdiction where your business will likely operate. Depending on the nature of your business, you may need to acquire permits for the following:

  • Alarm permits
  • Building permits
  • Business license and tax permits
  • Health permits
  • Occupational permits
  • Signage permits
  • Zoning permits

Business permits are required to make sure your business complies with the standards set by the city or county where your business is located. Securing business permits, however, could be much more complicated if you are planning to put up a web-based business that caters to people outside of your jurisdiction. Businesses that have the required permits are perceived by consumers to be credible and reliable.

If you are unsure of what kind of permits are you going to need for the business you are planning to start, seeking help from a legal counsel is worth considering to save time and money. Find out how a lawyer at Adam Pugh may work for you today by calling (737) 261-0602.

Understanding shareholder meetings

Shareholders in a corporation are required by the law to hold a general meeting at least every 15 months but is generally done every year. Usually called an AGM or “Annual General Meeting”, it is the time of the year when corporations’ key persons see each other to discuss important business matters or make critical decisions.

Below is the usual agenda of AGM:

  • Presentation and approval of the previous AGM minutes
  • Presentation and approval of the company’s financial statements
  • Shareholders’ approval of actions that are decided by the board of directors
  • Approval of dividend payments
  • Exercise shareholders’ rights to elect new members of the board or vote for or against a particular issue of the company

Aside from the above-mentioned agenda, an AGM is also a way for shareholders to express their opinions with regards the growth or future status of the business. As an AGM is critical to the success of every business, working with a skilled business attorney who would help you facilitate and oversee your company’s AGM is worth considering. Find out how an Austin attorney at Adam Pugh may work for you today by calling (737) 261-0602.

Taxes required to start a business in Texas

As in other states, individuals who are considering starting their own business in Texas should know they will need to pay several taxes in order to legally operate. Determining business taxes is an important facet of creating a business because individuals must find out if their finances can settle the taxes required of them. Below are the taxes required to run a business in Texas:

  • Federal taxes that are required by the IRS
  • State taxes that are required by the Texas Comptroller of Public Accounts for the benefit of the state
  • Local taxes or business inventory taxes required by the local County Appraisal District where the business is operating
  • Unemployment taxes required by the Texas Workforce Commission

Figuring out taxes while running a business is often difficult due to the legal technicalities involved. However, if you are planning to start a business, working with an attorney will give you an edge in your chosen venture. Find out how the attorneys at Adam Pugh in Austin may be able to work for you today by calling (737) 261-0602.

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