Business Startup Checklist

Owner’s Checklist for Starting a New Business

Background work
o assess your strengths and weaknesses
o establish business and personal goals
o assess your financial resources
o identify the financial risks
o determine the start-up costs
o decide on your business location
o do market research
o identify your customers
o identify your competitors
o develop a marketing plan

Business transactions
o select a lawyer
o choose a form of organization (proprietorship, partnership, or corporation, for example)
o create your business (register your name, incorporate the business, etc.)
o select an accountant
o prepare a business plan
o select a banker
o set up a business checking account
o apply for business loans (if applicable)
o establish a line of credit
o select an insurance agent
o obtain business insurance

First steps
o get business cards
o review local business codes
o obtain a lease
o line up suppliers (if applicable)
o get furniture and equipment
o obtain a business license or permit (if applicable)
o get a federal employer identification number (if applicable)
o get a state employer i.d. number (if applicable)
o send for federal and state tax forms
o join a professional organization
o set a starting date

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