Start-Up To Do List For Small Businesses
Here is a helpful checklist if you are starting a new business. This was obtained from the SBA Women's Online webpage.
- Know what type of business you would like to start and learn all you can about it.
- Appraise your business strengths and weaknesses. Be strict and objective.
- Conduct thorough research of potential customers, your trade or industry, your competition, your licensing and tax requirements, location, and name.
- Determine type of business organization (i.e. Proprietorship, Partnership, or Corporation)
- Evaluate possible site locations. Check physical condition, suitability, traffic flow, parking, utility requirements, and cost.
- Prepare a comprehensive business plan - include your action timetable.
- Decide on your business hours.
- Secure necessary capital. (Bank loan, budget to save, borrow on insurance, etc.)
- Obtain needed facilities, equipment, furnishings, signage, supplies, stock.
- Recruit personnel. Establish job descriptions and training program.
- Print business cards, stationery, invoice or statement forms.
- Register name of business (your assumed name) and/or file articles of incorporation with the Secretary of State. Publish notice in newspaper.
- Secure any necessary permits, licenses, or zoning variations. Check with both local and state licensing agencies.
- Register your business with the state and obtain a Sales & Use Tax Permit (if applicable).
- Register for Federal tax number (Form SS-4) and obtain employee tax and withholding information from the IRS.
- Establish bank account (separate from personal account). Shop for the bank and services that best suit your needs.
- If you intend to hire employees in your business, phone your Department of Economic Security or Workforce Commission.
- Phone the IRS for a free "Small Business Tax Kit" at 1-800-829-3676. For information about free Tax Education Workshops, call 1-800-829-1040 or check out the IRS website for this information.
- Issue news releases. Publicize your new venture.
