Owner’s Checklist for Starting a New Business
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 i.d. number (if applicable)
•	send for federal and state tax forms
•	join a professional organization
•	set a starting date