Galveston Financial Capital: Starting Your Business

Questions?

  1. What basic skills do I need to run a business?
  2. What business should I choose?
  3. What do I need to start my business?
  4. How long will it take to start a small business?
  5. How can I get my business certified as minority or women owned?
  6. What insurance should I have?
  7. Do I need to obtain a Federal Identification Number?

What basic skills do I need to run a business?

Starting a business can be challenging and previous business experience can be an important success factor. First hand knowledge of business and its four functional areas – management, operations, marketing, finance – and an understanding of the role of technology, contribute to a solid foundation and provide a basis for making informed business decisions.

What business should I choose?

Business experience is a plus, and the right kind of experience gives you an edge. Having worked in the industry you choose for your new business gives you insight and know-how that can be invaluable. Combine your background in the industry with strong management skills and you are on your way to success.

What do I need to start my business?

The Texas Road Map to Starting a Business contains directions to get your business off the ground and help strengthen our state economy along the way. This booklet covers eight essential steps to starting a new business.

How can I get my business certified as minority or women owned?

Federal, state and local government agencies as well as large private sector corporations have different eligibility requirements and application processes for certifying your business. The common denominator is that the business MUST be at lease 51% owned and controlled by one or more individuals who are eligible for certification. Consult your target customer to determine which certification(s) they accept. Then, learn the requirements and rules to determine if you are eligible to apply.

What insurance should I have?

An important aspect of your business is a well-planned insurance program. Types of insurance you should consider are:

  • Property Insurance
  • Liability Insurance
  • Product Liability Insurance
  • Automobile Insurance
  • Workers’ Compensation
  • Disability Insurance
  • Business Interruption Insurance
  • Health Insurance
  • Life Insurance

Do I need to obtain a Federal Identification Number?

Sole proprietorships without employees can use the proprietor’s social security number as a business identification number, providing the proprietor uses his or her own name for the business. Using a different name and/or hiring employees requires obtaining a federal identification number from the Internal Revenue Service (Form SS-4, Application for Employer Identification Number).

 

Human Capital Alliance Inc. Thailand, Singapore: The Winning Edge

Human Capital Alliance recently published “The Winning Edge-Two Decades of Asian Business Leadership”.

This year, we are celebrating our tenth anniversary at Human Capital Alliance. We are pleased to publish “The Winning Edge-Two Decades of Asian Business Leadership” as a tribute to our stakeholders, especially our clients throughout Asia.

We have been successful during the past decade because our leaders and consultants have melded their decades of business experience and knowledge of Asia and North America to deliver much-needed value-added advisory services.

During the past decade, we have continuously attempted to stay ahead-of-the curve to provide leading cutting-edge services to our customers and we hope to continue doing so in the up-coming decades.

We hope The Winning Edge will provide additional insight into how we viewed the past and how we consider the future sustainability of business in Asia.

Westward Housing Group: Find Out How We Are Governed and Who Makes Decisions

Effective governance is key to a successful organisation.

For Westward as a business, this means having:

  • a streamlined board structure;
  • board members with diverse skills and experience;
  • leadership and direction to achieve our vision and values;
  • the highest degree of integrity across the organisation;
  • focussing on our priorities – see How well are we doing?;
  • clear accountability and transparency – follow this link to find out about how we spend our money and what we are doing to drive performance and efficiency.

Proposal regarding Westward

The boards who manage Westward’s three housing associations (Tarka Housing, Westcountry Housing and Westward) all agree that we should now go ahead and bring these organisations and their boards together formally.  This will allow us to work more efficiently and provide even better value for money. 

Our service to customers will not change as a result of this and councillors will still be able to raise issues with us. We want to continue to create great homes and neighbourhoods where people want to live and work. The staff who deliver our services will continue to do so. Our customer Scrutiny Group will continue to check, monitor and challenge the board and staff.

Our governance structure is shown here:  Westward governance structure chart and includes:

  • a common purpose board which governs Westward and Westcountry – CPB membership biographies 2013;
  • a separate board at Tarka – see biographies of Tarka membership 2013.
  • Customers work in the Scrutiny Group to review our services in line with our commitment to co-regulation.

The Tarka Board is made up of:

  • 4 residents;
  • 4 independent members;
  • 4 nominees of Torridge District Council

The common purpose board has two specialist sub-committees:

  • an Audit and Risk Committee which operate on these terms of reference.pdf and

a Governance Committee following these terms of reference pdf

  • The residents’ Scrutiny Panel links into the governance structure via the Audit and Risk Committee.

The boards provide leadership, direction, support and challenge and our senior management team is responsible for delivering services.

Westward has adopted the National Housing Federation’s codes of governance and standards.  We regularly assess compliance with these standards and report the outcomes in our Annual Financial Statements.

The government’s Homes and Communities Agency regulates social housing and we comply with their regulatory standards.