Starting a new business in Texas or in another state doesn’t have to be stressful. Whether you’re launching your first company or your 20th, we are here to help provide you with turnkey solutions with our New Business Setup Program. Texas is home to over two million small businesses, and we’ve helped dozens of small businesses launch successfully.
From helping you choose the best business ownership structure, to setting up your bookkeeping systems, we make sure your business is built on a solid foundation. We put our decades of business experience to work for you. We plan out and set up your systems and processes for payroll, data management, taxes, accounts payable and accounts receivable. We create a financial plan and do your budget forecasting for you.
Our job is to guarantee that when you open your doors on day one, you’re ready for business.
Step 1: Identify which legal entity structure is right for your business. Each legal entity structure, such as a sole proprietorship or limited liability company (LLC), carries different salary and tax obligations for business owners. We make sure you choose the best option for you and your company.
Step 2: Develop a financial plan, budget, and budget forecast. The financial plan summarizes how much money your company can spend, how you can afford to spend that money, and what you can expect your profits to be. Combined with your budget and budget forecast, these three documents are a blueprint for making data-driven decisions about your business.
Step 3: Identify resources available to your company such as grants and additional funding opportunities to help you accelerate your growth. Having access to funding will help you take advantage of sound business opportunities at the right time.
Step 4: File for business registrations, licenses, and tax IDs. We make sure your company is in compliance with all applicable local, state, and federal regulations and that you successfully obtain the registrations and licenses you’ll need to operate. We also make sure your federal tax ID is in order so that you can set up payroll and anything else that requires a federal tax ID. If you’re operating in a state that requires a state tax ID number, we handle that for you as well.
Step 5: Set up payroll, accounts payable, accounts receivable, and all your financial systems and processes. We help you choose the right tools and software that fit your budget and your business. In addition to making sure you have the best tools for your business, we help you set up robust internal controls to safeguard your assets from theft. These internal controls also free you up to run your company. We do your bookkeeping so you can do what you do best.
Step 6: Calendar all of your financial deadlines. Between paying vendor invoices, payment policies for your accounts receivable, paying taxes on time, paying rent and other utilities, payroll, and other financial obligations, knowing when everything needs to be done can get very confusing very quickly. Our team makes sure every deadline is accurately set on your company’s financial calendar and we do all the work to make sure everything gets done accurately and on time. Every time.
Step 7: Advise you on insurance policies and any retirement or profit-sharing plans. From business liability insurance to health insurance plans, your business will need several policies. We help you navigate the insurance market and make sure you get the right policies for you and your company. Also, we help you choose and set up company-wide retirement or profit-sharing plans.