Starting A Business Checklist

Background work

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

Business transactions

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

First steps

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