"Start early. There may be a delay. It took us six months to get the permit," says to Jamie White, owner of Rouge Moderne Bistro, located in nearby Flower Mound.
Dig Deeper: How to Purchase Commercial Real Estate
Starting a Business in Dallas: Get Certified
In Texas, there are myriad certifications that can help your business get recognized – if you qualify. They don't cost any money at all, and are relatively easy to obtain. Just be prepared to fill out the paperwork.
It's worth checking if any qualities of your business open up the possibility of certification. For example, women minority owned businesses are able to take advantage of several certifications, such as one through the North Central Texas Regional Certification Agency. That certification as a "Disadvantaged, Minority and Woman-Owned Business Enterprise" can help a company land business with local government agencies and plenty of large companies.
Another beneficial certification is the State HUB, which stands for Historically Underutilized Business and is issued by the State of Texas Comptroller's Office. The state supported agencies and state supported universities also have a goal of spending money with women or minority owned business. The HUB certification helps these agencies to identify approved vendors to meet their goals.
It's important to remember that just getting the certificates is not the only key to success. "In average, over the years my business has increased by just over one third, but as a business you also need to have the best overall value. It's not just a slam dunk because of the certifications," says Colinda Torrez, president of Torrez Paper Company a distributor of paper products that's based in Dallas.
"Getting government contracts is about getting your face seen – just go to all the conferences by the state, which are almost all free," Torrez says.
Dig Deeper: How to Become Certified as a Minority-owned Business
Dig Deeper: How to Become Certified as a Woman-owned Business
Starting a Business in Dallas: Secure Funding
As the small-business lending outlook improves, in the Dallas-Fort Worth area a small-business owner is likely to have plenty of banks, large and small, to choose from. But it's also smart to consider a spectrum of financing options – some of which are unique to the area.
The Texas Enterprise Fund was established at Governor Rick Perry's request, in 2003, and has been renewed by the legislature several times since. Its goal is to help attract new jobs and investment to the state. Keep in mind that the fund is used only as a final-incentive tool in situations when a single Texas site is competing with another viable out-of-state option.
Projects that are considered for the TEF must fit a number of requirements, including being financially sound, providing a significant number of new high-paying jobs and include community involvement. In addition, the applicant's business sector must be an advanced industry that could potentially locate in another state or country.
The Southern Dallas Development Corporation, a nonprofit started in 1989 to leverage private debt and equity, promote access to capital, facilitate job creation, and foster economic development, awards several loans. The SDDC Community Development Loan Fund gives loans as much as $300,000 to businesses in federally designated census tracks and that have operating results for 18 months.
The South Dallas-Fair Park Trust Fund helps businesses in South Dallas Business area if they fulfill the following objectives: housing and community development, community service programs to provide job related and human service assistance.
Dig Deeper: How to Make it Big in Texas
Starting a Business in Dallas: Additional Resources
- Seven Business Assistance Centers help entrepreneurs with business plan development, strategic plan development, marketing research, and marketing plans.
- The Tech Forth Worth business incubator provides help to entrepreneurs who are working on technologies that will impact the environment, empower the community and improve healthcare. Entrepreneurs can enroll in a number of programs including the incubation workshop, where they can get hands on help, shared space to work in and access to wireless Internet access, white boards, training tables, and a business library.
