In order to start and run a successful business, it is not enough just to have a good, viable idea. The concepts and skills presented throughout the courses in the specialization are applied in this capstone course where you will launch an actual business. The concept, brand following and business model are already in place; all you need is a good location and the means to fund your operation.
The following information will guide you to the appropriate Federal, State and Austin agencies who administer business taxes. Trading Standards and Consumer Services Section is a strategic Local Authority service contributing to the well-being of the local and business community through its enforcement activities and advisory services.
If you are unemployed you may be eligible for the Back to Work Enterprise Allowance (BTWEA) or the Short-Term Enterprise Allowance (STEA) If you are starting a business, you also may get extra supports under these schemes, such as grants for training, market research and business plans as well as access to loans to buy equipment.
The Subchapter S Corporation also offers alternative methods for distributing the business income to the owners. If you think your business can deliver something other companies don’t (or deliver the same thing, but faster and cheaper), you’ve got a solid idea and are ready to create a business plan.
If the business name has been used, look in the margin to see if it has been abandoned. Many occupations and business activities require licenses, permits or certifications from state agencies or boards. You may also need other types of coverage depending on your location and industry, but most small businesses are advised to purchase general liability (GL) insurance, or a business owner’s policy.