Business Startup Checklist

Business Startup Business Startup
  • Select a Name and Legal Structure

    ×

    How to do this task:
    Subtasks:
  • Sole Proprietorship

    ×

    How to do this task:
    Subtasks:
  • Partnership

    ×

    How to do this task:
    Subtasks:
  • Limited Liability Company (LLC)

    ×

    How to do this task:
    Subtasks:
  • Corporation or S-Corporation

    ×

    How to do this task:
    Subtasks:
  • Write a Business Plan

    ×

    How to do this task:
    Subtasks:
  • If you haven’t already, prepare at least a preliminary business plan.

    ×

    How to do this task:
    Subtasks:
  • Obtain your Federal Employer Identification Number (FEIN)

    ×

    How to do this task:
    Subtasks:
  • If you are setup as a Corporation, LLC or Partnership (or a sole proprietorship with employees), apply for a Federal Employer Identification Number (FEIN) from the IRS. A FEIN will be necessary to open a bank account or process payroll.

    ×

    How to do this task:
    Subtasks:
  • Open the Company Bank Account

    ×

    How to do this task:
    Subtasks:
  • Select a bank and open the company bank account.

    ×

    How to do this task:
    Subtasks:
  • Lease Office, Warehouse or Retail Space (if not home-based)

    ×

    How to do this task:
    Subtasks:
  • Depending on your type of business (retail, office or warehouse), arrange for office space to be leased. Contacting a commercial realtor in your area can be helpful. Also, make sure to arrange for utilities and office furniture.

    ×

    How to do this task:
    Subtasks:
  • Obtain Licenses and Permits

    ×

    How to do this task:
    Subtasks:
  • Federal Permits

    ×

    How to do this task:
    Subtasks:
  • State Licenses

    ×

    How to do this task:
    Subtasks:
  • Sales Tax Permit

    ×

    How to do this task:
    Subtasks:
  • Business License

    ×

    How to do this task:
    Subtasks:
  • Hire Employees (if applicable)

    ×

    How to do this task:
    Subtasks:
  • If you intend to hire yourself or others as a full or part-time employee of your company, then you may have to register with the appropriate State Agencies or obtain Workers Compensation Insurance or Unemployment Insurance (or both).

    ×

    How to do this task:
    Subtasks:
  • Set up an Accounting and Record-Keeping System

    ×

    How to do this task:
    Subtasks:
  • Setup your Accounting and Record-keeping system and learn about the taxes your new company is responsible for paying.

    ×

    How to do this task:
    Subtasks:
  • Obtain Business Insurance

    ×

    How to do this task:
    Subtasks:
  • There are many types of insurance for businesses but they are usually packaged as “General Business Insurance” or a “Business Owner’s Policy”. This can cover everything from product liability to company vehicles. A decent policy can run as little as $300/year and offers a great extra level of protection.

    ×

    How to do this task:
    Subtasks:
  • Systemize and Organize

    ×

    How to do this task:
    Subtasks:
  • Prepare the business as if someone needed to take it over and run it for you. This means have a method to process orders, pay bills, pay employees, pay taxes, maintain your permits, etc. Basically, try to make the operational aspect of the business as automated and efficient as possible so you can concentrate on growing your business.

    ×

    How to do this task:
    Subtasks:
  • Develop a Business Identity

    ×

    How to do this task:
    Subtasks:
  • Order business cards, letterhead and promotional materials for your business. A professionally created logo can make your business look professional and established.

    ×

    How to do this task:
    Subtasks:
  • Get the Word Out (Marketing)

    ×

    How to do this task:
    Subtasks:
  • Now that you’ve set-up the company for success, you need to get the word out. Create a marketing plan for your products and services that targets your ideal customer.

    ×

    How to do this task:
    Subtasks:

338 copy saved

338 copies saved