Texas Business Startup Guides
Open a Business in Monahans, Texas
Need help starting a business in Monahans, Texas? We've got the information you need to open a business in Monahans.
Are You Ready for the Challenges of Being an Entrepreneur?
Before you get too far along in the process, take inventory of your entrepreneurial instincts and capabilities.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Talk to other entrepreneurs in Monahans. Listen closely to their experiences and see if you think you too can be successful.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Monahans, Texas Demographic Information
Monahans has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Monahans demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Monahans.
Businesses
As a new Monahans entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Monahans for each business category. By looking at this chart, you can get a general sense for how much competition there is in the business niche that you are pursuing.
Businesses
Forming a Company in Monahans, Texas
It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very popular way to form a business. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Texas, you don't necessarily have to incorporate in Texas. In fact, you can incorporate wherever you want. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Company Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Monahans, Texas, our information on Incorporating in Texas may be a useful resource if you decide to incorporate in Texas.
Don't Skip the Business Plan
A business plan is vital in laying a solid foundation for your business success. Indeed, a business plan is a written description of the future you envision for your business. Not having a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Contests. You can also get free business counselors available to you through your local SCORE chapter in Texas.
Raising Money for Your New Venture
Getting your Monahans business the capital it needs to succeed is not an easy task. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
Take advantage of our many articles on raising capital, such as 504 Loans.
For Monahans entrepreneurs who need startup capital, browse our List of Texas Angel Investors and our List of Texas Venture Capital Firms.
Getting the Word Out About Your New Startup
To grow your Monahans business, you need a solid marketing plan.
You can learn plenty about marketing on our site. Advertising on Google is a good read to get your marketing juices flowing. That's just one of the many useful articles we have on Marketing a Small Business.
Never Give Up
You have a dream -- starting a business in Monahans. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Monahans and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Monahans, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Monahans, Texas
Here are more links that we believe will help you be successful in starting a business in Monahans.
- Resources for Monahans, Texas Entrepreneurs - Browse a variety of resources we've collected to assist Monahans entrepreneurs.
- Texas Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Texas.
- Houston, Texas Small Business Development Center - Serving 32 counties in Southeast Texas through 14 business consulting and training centers, the Small Business Development Center Network contributes to the growth and prosperity of the Texas Gulf Coast communities.
- North Texas Small Business Development Center - The NTSBDC Network promotes small business success by providing management education.
- Northwest Texas Small Business Development Center - The Northwest Texas Small Business Development Center was established with Texas Tech University in 1986. This regional program serves over ninety thousand square miles including ninety-five counties with a population base of approximately 1.8 million people. This region is serviced by six centers located in Lubbock, Amarillo, Midland/Odessa, Abilene, Stephenville, and Wichita Falls.
- South-West Texas Border�SBDC Network Texas Small Business Development Center - The South-West Texas Border Small Business Development Center (SBDC) provides consulting and technical assistance to the small business community.
Starting-a-Business Guides for Other Cities in Texas
Starting a Business in Missouri City
Starting a Business in Mont Belvieu
Browse All Business Startup Guides for Texas
Starting a Business Guides for Other States
Share this article
Additional Resources for Entrepreneurs