Melvin Feller and How to Start a Business in Burkburnett Texas

Melvin Feller and How to Start a Business in Burkburnett Texas

Melvin Feller Business Consultants in Burkburnett and Lawton. Our mission is to call and equip a generation of Christian entrepreneurs to do business as ministry. We provide workshops and resources that help companies discover how to do business God’s way. When the heart of a business is service rather than self it can be transformed into a fruitful business ministry earning a profit and being of service to the community and their customers. Melvin Feller is currently pursuing another graduate degree in business organizations. Melvin Feller is currently pursuing another graduate degree in business organizations. 

The Steps:
Determine Your Business Structure
Pick a Business Name
Request an Employee Identification Number
Acquire Business Licenses and Permits
Check on Your Business Employer Requirements
Sign Up for Business Banking

How to Start a Business in Burkburnett Texas by Melvin Feller

Texas’ support for small business, in particular, is evident in its low business licensing fees, its lack of red tape, and an abundance of relatively cheap real estate. Few states can boast a similar lack of regulation that lets businesses be born almost as soon as they are conceived, with only a small out-of-pocket investment.

First: Determine Your Business Structure
You need to choose the type of legal, for-profit business entity you want your business to be, which depends on a few factors. This includes what kind of business you are starting, whether you’ll have employees and your comfort with liability. Some structures are free to register; others have a low fee and are subject to the state franchise tax.

Some of the most common choices include:

Sole proprietorship: The most common and simplest form of business structure, a sole proprietorship is perfect for one person who owns all the business assets. This person is 100% liable for the business. Their sole proprietorship assumes their name, unless they want to create a “DBA certificate” to give it another name, to be filed in all counties where business is conducted. These structures are not subject to the state franchise tax.


General partnership: Similar to a sole proprietorship, but it’s for two or more individuals. It’s a separate business entity from those people, but creditors can still hit up the partners’ personal assets to satisfy debts and liabilities. They are not subject to state franchise tax.

How to Start a Business in Texas by Melvin Feller

Limited liability Company: An LLC is created by filing a certificate of formation with the Texas secretary of state. It is an unincorporated business entity with more flexibility, providing owners with limited liability and pass-through tax advantages. LLCs are subject to state franchise tax, and the certification of formation for an LLC is $300. This should not be confused with a limited liability partnership, which is a general partnership registered with the secretary of state and, in Texas, costs $200 for the certificate of formation per general partner.


For-profit corporation: “Corporations are people, too.” It is true: Corporations are people with limited liability, centralized management, perpetual duration, and ease of ownership transferability. Owners of corporations are shareholders, and managers of the business are directors. For-profit corporations must register with the Texas secretary of state, must pay a filing fee for the certificate of formation of $300, and are subject to a state franchise tax.

If your business was formed in a state or entity other than Texas but you want to “transact business” in the state, you need to file an application for registration with the Texas secretary of State as a foreign entity.

Second: Pick a Business Name

This may sound obvious, but you need to choose a business name. If you open a sole proprietorship, your name can be the business name — otherwise, you need an Assumed Name (which comes via the DBA certificate). If you’re struggling on how to come up with the right name, consider these steps:

Do a Google Search

If that business name sounds too good to be true, it may be. First, do a preliminary search to find any conflicts with your Texas business name, especially in your local area. Consider a name that is easy to pronounce and spell as well as one that is very searchable.


Do a Trademark Search

Before you pick a name, you will want to ensure it has not already been trademarked. To start, sift through the trademarks already registered with the U.S. Patent and Trademark Office. This database can show you which names have already been registered along with the classification of each one.

Check Texas’s Business Name Database


Once you have picked a Google-able name and discovered it’s not trademarked, check the Texas Department of State: Division of Corporations database. This will ensure your business name is not the same (or too similar) to another corporation registered in Texas.
Give your name a lot of thought: It is hard to change it up in the middle of your company’s lifespan.


Third: Request an Employee Identification Number

How to Start a Business in Texas by Melvin Feller

An EIN, or business tax identification number, is the business equivalent of a social security number and is used to track your business dealings. It is useful for establishing business credit, opening business checking accounts, and, if you have employees, filing their tax withholdings. You can apply for your EIN with the IRS here.


An EIN is free to obtain; you can also contract a third party like LegalZoom to ensure you are 100% compliant with the law, including getting your EIN for you.
In addition to understanding your federal tax responsibilities, you also need to research your state and local taxes. The Comptroller of Public Accounts collects various state taxes and imposes and collects franchises taxes, though most small businesses are exempt.


Business inventory tax is assigned to businesses that own fixed assets, to be paid to your local county appraisal district. You will want a quality inventory and fixed asset management system to ensure you know exactly how much you invested (and thus, what you will have to pay taxes on) in your equipment and machinery, if applicable.


Fourth: Acquire Business Licenses and Permits

Texas does not require companies to buy a “general business” license. However, depending on the type of business you open, you might need a specific license or permit. Check out the Texas Department of Licensing and Regulation to see if your specific profession qualifies. If you’re unsure of what you need, contact your local county or city government to double check any additional requirements.


Varieties of small fees are associated with obtaining various business filings and trademarks, such as a change of registered agent or a limited partnership periodic report. The full list can be found here — it works as a good checklist when starting out.

Fifth: Check on Your Business Employer Requirements

How to Start a Business in Texas by Melvin Feller

This is specific to the type of business you are starting in Texas, including whether you have employees, but there are various labor, safety, and tax obligations to satisfy, too, such as federal and state mandates like the Americans with Disabilities Act, Equal Employment, and safety, wage, and labor requirements. You might want to hire a tax or business attorney to make sure you are following the law here.


You have a few other economic hurdles to clear as you start up and begin running your business in the state of Texas, particularly if you have employees. Here are a few of the most important — but be sure to refer to the full state handbook if you have further questions:


Business Insurance

Texas does not require most private businesses to have workers’ compensation insurance, though those that do obtain helpful legal protections, such as immunity from lawsuits by injured employees. Those without workers’ comp must also file an annual notice with the Texas


Department of Insurance.

Commercial property insurance, such as tenant coverage while renting or leasing a building, that will insure your on-premises property, is highly recommended.
Offering health insurance isn’t a requirement for small employers in Texas, but those that do offer it need to make it available to all employees working 30 hours or more a week, year-round. Insurance companies usually require 75% of eligible employees to participate in their health plan.
Note that the Patient Protection and Affordable Care Act requires all small employer group plans to cover essential health benefits like emergency services and prescription drugs.


Texas Workforce Commission

The Texas Workforce Commission (TWC) and 28 local workforce development boards have teamed up to form Texas Workforce Solutions, to provide support services and administering unemployment benefits and tax programs. A few services to keep in mind:

How to Start a Business in Texas by Melvin Feller

Skills for Small Business provides training funds for businesses with fewer than 100 employees — $725 for full-time existing employees and double that amount for full-time, new employees to aid in upgrading skills, preparing new hires, and increasing competitiveness. Training is also available at local colleges.


Skills Development Funds are collaborative training programs customized to specific business needs. Companies can apply for this fund grant and customized curriculum.
The Work Opportunity Tax Credit Program offers a tax credit reducing the federal tax liability of employers if they hire someone from target groups, such as SNAP recipients, ex-felons, veterans, and residents of rural renewal counties.


Unemployment Tax

The Texas Unemployment Compensation Act requires “liable employers” to pay unemployment tax. Most of the business structures discussed above fall under this category; non-liable employers include those who hire only independent contractors rather than full-time employees, and those whose employees are paid through a professional employer organization.
Once wages are paid out, employers need to register with the TWC within 10 days of becoming liable for the state’s unemployment tax.


Third-Party Resources, Programs, and Lenders

You do not have to go it alone in Texas. A number of state and federal resources, such as the U.S. Small Business Administration, offer business advice, low-interest loans, grants, and much more. Their programs are geared toward helping veteran-owned businesses, minority-owned businesses, and women-owned businesses, and they are worth exploring if you qualify.

Sixth: Sign Up for Business Banking

How to Start a Business in Texas by Melvin Feller

If you are a new business owner, it is a very good idea to separate your personal and business banking accounts. First, sign up for a business checking account. If you do not want to be saddled with hefty fees, there are many free business-banking accounts out there. Before you settle on a bank, consider how often you plan to make transactions and how much a balance you can carry month to month.
Getting a business credit card is also a great way to start building business credit and provide a safety net if you need a bit of extra capital. If you qualify, a 0% introductory rate can act as an interest-free loan while you get up in running.

Melvin Feller Discusses Starting a business

If you are interested in starting a business in Texas, you are definitely in luck: The barrier for entry is low and the number of resources at your disposal is high.
It may be really, hot down there in the summer, but that is a small price to pay for getting your foot in the door of the small business world and keeping it there.
Texas appears to have a stake in helping you succeed — do not take that for granted. It is hard enough to stay afloat in today’s economy, and a state government that has your back is a benefit few should turn down.


Texas Startup Resources

• Texas Business Portal
• Texas Hospitality for Small Business Owners
• Texas Business Advisor
• Central Texas Lawyer Referral Service
• Texas Trademark FAQ
• Texas State Securities Board
• County-Specific Startup Resources
• US Small Business Administration
• Texas Economic Development Commission
• Texas Wide Open For Business Website

SMALL BUSINESS INCENTIVES

State/Federal Incentives

The incentives in this section are a summary of the most commonly utilized state offerings. The following programs and organizations provide opportunities that can help small businesses get tools, training, and procurement opportunities they need.


Local Incentives

The local incentives section summarizes offerings from the county and city level. The following programs and organizations provide opportunities to help small businesses prosper.


Funding Programs

Texas is committed to providing and facilitating funding for companies and communities with expansion and relocation projects in the Lone Star State. Asset-based loans for companies, leveraged loans to communities, and tax-exempt bond financing are just a few means of obtaining the capital necessary for a successful project.

Melvin Feller Business Organization Graduate Candidate and Business Coach

Melvin Feller Business Consultants Group Business Ministries in Burkburnett, Dallas Texas and Lawton Oklahoma. Melvin Feller founded Melvin Feller Business Consultants Group Ministries in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.