what makes a small business

What Makes a Small Business Dallas TX?

If you are looking for help with commercial financial services, we’d like to assure you that the Slaton team is well aware that “one size fits all” cannot be said for North Texas small businesses and their owners.  What is a small business Dallas TX? Is it limited to the SBA small business definition?  There are so many layers to this question.

How Small is a Small Business?

Today the words “small business” are thrown around a lot.  Many owners don’t see their growing concern as something small. Millions of dollars may be involved. Yet their business may be classified as small by some definitions.

The Small Business Administration basically determines what you should call your company. They have size and financial standards that help categorize businesses. It’s most important to know the SBA small business definition if you want help from the agency or you want to qualify for a government contract.

At Slaton, we aren’t particularly focused on small business criteria, except as it affects taxes or regulations. Our clients may be start-ups, restaurants, service providers, health care administrators, or manufacturers.  Regardless of business size, the owners we serve are serious entrepreneurs who work hard to accomplish their goals. It is our pleasure to assist them.

sba small business definitionSBA Small Business Definition

The Small Business Administration focuses resources on what it considers to be vulnerable companies.  Basically, it tracks businesses with less than 100 employees. It considers these to need help the most.  We see that as well. Critical bookkeeping and payroll services help our clients get the expertise they need.  There are many ways we help reduce overhead and ensure that our clients have what they need.

For the purposes of government contracts, a manufacturer can actually have as many as 500 employees and still be classified as a small business.  This very modern definition of small continues with the rule for non-manufacturing businesses. Until it goes over $7.5 million in annual receipts, it is considered small.  We tailor our services to help these businesses keep costs down with affordable human resources materials and background checks.

More Small Business Definition Information

Here are some interesting statistics from the National Federation of Independent Businesses (NFIB).  S corporations comprise 42 percent, the largest group among small businesses.  One-fifth are registered as LLCs. Sole proprietorship comprises slightly less than one-fifth. About 17 percent are C Corporations. Partnerships comprise only 3 percent.

It’s important to know that business owners are different too.  According to NFIB, most (64 percent) own just one company. Some (20 percent) have an ownership share in a second business.  A stake in three or more businesses is common for about 14 percent of small business owners. Of those owners, their business concerns tend to be larger overall.

For many business owners, a big part of their stress is the fact that business earnings are tied directly to their household income.  Add to that, the business represents a substantial amount of their net worth. We recognize that leads to a high level of owner stress, and our goal is to help reduce it by providing expert help. Our team has the knowledge needed to help with many types of business accounting and tax issues.

Slaton is well aware of the burden caused by local, state and federal regulations and taxes.  We also know that it isn’t easy to keep up with everything that laws require. This is especially true when the laws keep changing.  Often those who are least familiar with the requirement are the ones most affected by it.

Commercial Financial Services Are Tailored for You at Slaton FS

For more information about how we can help your business, please be in touch by phone or email.  Put our expertise to work for you.

Posted in News.

Leave a Reply

Your email address will not be published. Required fields are marked *