FAQ

What is SCORE?

SCORE, “Counselors to America’s Small Business”, is a 501(c)(3) nonprofit association formed in 1964. There are about 400 SCORE chapters throughout the country with more than 11,000 volunteer business counselors. The organization is unique as its members are all experienced business executives with real world business experience who volunteer to share their expertise with aspiring entrepreneurs and business owners.

What does SCORE Counseling Cost?

Counseling services are free. There is a modest charge for workshops, and for customized workshops and other specialized services.

What Counseling Services Does SCORE Austin Provide?

SCORE’s experienced business executives provide guidance and business advice on most matters ranging from preparation of a business plan, launching a marketing campaign, and other actions required to successfully start and operate a business. Many SCORE Austin clients return repeatedly for on-going mentoring. The SCORE Code of Ethics signed by SCORE counselors each year provides that clients’ information remains confidential.

Where can I obtain face-to-face SCORE counseling?

Austin – Main Office, Westland Office Park, 5524 Bee Caves Road, Building M. Call 512 928-2425 for an appointment or complete the form on this site.

Cedar Park – Cedar Park Chamber of Commerce, 1490 E. Whitestone Blvd. Suite 180, Wednesdays and Thursdays, 10 AM to 2 PM. Call 512 260-7800 for an appoointment.

Round Rock – In collaboration with the Round Rock Chamber of Commerce at the Chase Bank, I-35 (Exit 253) and Hwy 79, Wednesday and Friday afternoons. Call 512 255-5805 for an appointment.

Business Plan – What is it? Why is it needed? How is it prepared?

A business plan is a written document that describes the entrepreneur’s business service or product, what the entrepreneur expects to accomplish, and how resources will be organized and used.

A business plan is a vital tool for operating the business and measuring its progress. Lenders and potential investors will require a well-conceived business plan before committing funding.

A business plan is prepared by gathering pertinent information about the business, organizing the information, and presenting it in writing. Samples of business plans can be seen at the SCORE Association National Office and SBA Small Business Planner websites. SCORE Austin conducts a low cost Business Plan workshop, and free counseling is available by appointment at SCORE Austin, 512 928-2425.

How can I get an SBA loan?

The SBA does not make direct loans. The SBA guarantees some loans made by banks. Many banks in Central Texas are authorized SBA lenders. The bank can determine what loans will qualify, and has the necessary forms to originate the loan. A business plan will be required for either a conventional or an SBA guaranteed loan.

What is a DBA? Do I need one?

DBA, Doing Business As, is the registration of the name you are using or intend to use to conduct your business. It involves the county clerk making a search of business names registered in the county. If the name is not in use, it may be registered. It is a good idea to register a DBA if you have a unique name you want to protect. The cost is usually less than $20.

What is an EIN?

An EIN, Employer Identification Number, is issued by the IRS. It is used to identify taxpayers who are required to file business tax returns. A sole proprietor that has no employees and files no excise or pension tax returns may use his or her social security number as the taxpayer identification. All other forms of business (and sole proprietors who have one or more employees and/or file excise or pension tax returns) must have an EIN.