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CHECKLIST

FOR STARTING A NEW BUSINESS



Background work

Analyze your business idea by doing a SWOT analysis 

Assess your strengths and weaknesses as an entrepreneur

Establish business and personal goals

Assess your financial resources and identify potential sources of funds

Identify the financial risks

Determine the start-up costs

Decide on your business location

Do a thorough market research

Identify your customers

Identify your competitors

Develop a marketing plan


Business transactions

Select a lawyer and an accountant

Choose a form of organization (proprietorship, partnership, or corporation, for example)

Create your business (register your companys name, incorporate the business, etc.)

Prepare a business plan

Select a banker and set up a business checking account

Apply for business loans and grants (if applicable)

Establish a line of credit (if possible)

Select an insurance agent and obtain business insurance


First steps

Prepare corporate brochures

Build a website

Set-up corporate email accounts 

Get business cards

Obtain a lease

Line up suppliers (if applicable)

Get furniture and equipment

Obtain business licenses or permits (if applicable)

Get a federal employer identification number (if applicable)

Get an employer ID number (if applicable)

Send incorporation papers for federal and state/province tax forms

Join a professional organization

Choose a starting date

Prepare and deploy your communication/marketing strategy



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