A DBA is not a business structure and does not give you and your personal belongings the protection like an LLC would. A business plan is a roadmap to business success. It’s a dynamic document that captures the purpose of the business, the industry outlook, a description of the company’s products and services, competitive strengths and weaknesses, operational structure, financial projections, funding needs, and other essential details to help business owners guide their activities and priorities. A general business license is not required in Texas.
You can find many business plan examples and templates online, so you don’t have to start 100% from scratch when creating yours.
What legal documents do I need to start a business?
Businesses operating as a sole proprietorship don’t need a Federal Tax ID number if they don’t have any employees; they simply use the owner’s social security number on all legal documents. For sole proprietorships, the business’s legal name might be the owner’s name but could also run under an assumed name such as “The Marketing Guy. Please note that Rocket Lawyer is not a lawyer referral service, accountant referral service, accounting firm, or law firm, does not provide legal or tax advice or representation (except in certain jurisdictions), and is not intended as a substitute for an attorney, accountant, accounting firm, or law firm. A non-disclosure agreement is an important legal document for businesses because it protects trade secrets.