12 of 12 people found the following review helpful:
2.0 out of 5 stars
Lightweight: maybe a good overview, but missing details, August 10, 2004
How to Start a Business in Texas includes chapters on initial business considerations, business structure, licensing/permits/taxes, employer responsibilities, sources of business assistance, marketing, business plan, obtaining financing, finance & accounting, human resources management, insurance, setting up your office, and info on Texas. In most cases the info was Texas specific but at times it was not (e.g. "Many states have repealed their bulk sales law ... consult your secretary of state or attorney.") The chapter on business structures was 18 pages. It was pretty light on tax information and did not include any sample forms for incorporating, nor did it include a sample operating agreement for an LLC. I also thought the tax information for an LLC was confusing. The summary states that the profits and losses pass through the LLC to the owners for tax purposes. Later the author states, (paraphrasing) Even though the IRS has ruled the LLC will qualify as a partnership for tax purposes, Congress has yet to pass any legislation to that effect. A 1997 IRS decision allows sole proprietorships to convert to LLC status. "This "check-the-box" legislation allows LLC's to be treated as corporations or partnerships for tax purposes." The chapter on setting up your office failed to provide any information on tax deductions. The marketing chapter has one paragraph on using the internet to market your business, so don't expect anything useful on setting up a web site. The chapter on insurance doesn't discuss errors and omissions insurance and basically states that a discussion of liability insurance is either beyond the scope of this book or you should consult your insurance agent. The chapter on accounting and finance is very lightweight.
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5 of 5 people found the following review helpful:
5.0 out of 5 stars
A wonderful primer on starting a business with contact information for locating startup funds if necessary., September 2, 2006
This is a valuable book (resource) for budding entrepreneurs. It seems to try to cover all the bases for starting a small business, but it can't do them all well in the space available between its covers. The book is only 288 pages long. If you are in the planning stages of starting a small business, then I highly recommend you get a copy of this book. Read it, study it, and outline it. There are helpful checklists to help you grasp the subjects. You will come up with a plethora of keywords and terms that you will want to google to find Web pages giving more detailed (and maybe more current) information.
I am a SCORE counselor (Senior Corps of Retired Executives) who typically does face-to-face counseling sessions three nights a month. It would really be neat if my clients would read this book BEFORE they came to their session with me because they would pretty much be "educated customers" ready to ask educated questions. Our sessions would be so much more beneficial.
My favorite chapters were:
1. Initial business concerns
2. Your business' structure
3. Business start-up details
5. Sources of business assistance (SCORE is mentioned here)
7. Your smart business plan (and a good sample plan is included)
8. Obtaining the financing you need
The book is weak when it comes to how the Internet can be used in corresponding, hiring, and marketing. But this is just one example of how googling keywords and concepts found in the book will make the book more complete. Don't treat the book as authoritative on the law. It isn't. Nor was it ever intended to be. It is light on tax information as it relates to small business.
I was particularly impressed with the material presented in Chapter 2: Choice of Legal Entity. That subject is sorely ignored in most small business books, and it is critically important. It is a subject I regularly must spend a great deal of time discussing at my SCORE sessions. This book does a pretty good job on the topic.
Chapters 4 and 9 through 12 are easy to find fault with. The topic of each could fill a book. But having these topics covered definitely will help a budding entrepreneur know some of the issues they raise.
I would have liked the book more if Chapter 6 (marketing) had been less superficial. When I read it I got the impression that the author was more a public relations expert than a marketing expert. I generally categorize public relations as a subset of marketing. Marketing includes advertising, public relations, and a whole host of other promotion techniques. I did not get this message when I read the book. I also would have liked the book better if the Internet, email, and Web sites had been discussed more. But there are many books on those subjects. Therefore, I can't complain too much about the limited discussion of computers.
When you read this book it may feel a little like it was produced on an assembly line. Maybe it was? There are 50 versions of this book sold; the only state I haven't found a copy for is Montana. Content is king, and this book has it. 5 stars!
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