New 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
  • Select an accountant
  • Choose a form of organization (sole proprietorship, partnership, or corporation, LLC)
  • Create your business (register your name, incorporate the business, etc.)
  • 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 u0026amp; obtain business insurance

First steps

  • Register for Federal EIN
  • Register for state sales tax number if applicable
  • Order business cards
  • Review local business codes u0026amp; required permits
  • Obtain a lease
  • Line up suppliers (if applicable)
  • Get furniture and equipment
  • Obtain a business license and/or permits (if applicable)
  • Join a professional organization
  • Set a starting date