Annually more than 100 million businesses are opened each year. Here’s a business startup checklist you can use to ensure your business gets off on the right foot.
We want to help you ensure you’re a success no matter what industry you enter. Read on now and start checking things off this startup list for small business owners.
# Decide on Your Business Structure
From sole proprietorship to an LLC or limited liability company there are several different business structures to choose from. As you consider the type of business, you’ll have to take time to do your research. Each business structure has something different to offer.
While doing this consider your business name. Create a list of names you would like to use and check them in a free domain checker.
You indeed want to compete as a local business, but you don’t want to have the same name as your competitors.
# Create a Solid Business Plan
You need to create a business plan outlining each aspect of the business. This includes the startup costs and the daily operations of your business.
A complete business plan is presented to investors that might want to help you fund your startup. Investors want to know what their money is going towards. A strong business plan is essential to future business success.
# Open Business Bank Accounts
Your personal account should not be used as your business bank account. Keeping these accounts separate is important for accounting purposes and record-keeping purposes.
Before heading to the bank check what the requirements are for opening a bank account. Bring all documentation necessary to complete the account opening at one time.
# Secure Proper Licenses & Permits
The next step is to secure business permits and licensing. Without them, you can’t operate your business.
Do your research to check for state-specific permits and licensing needed. When you’re ready to file for your business license this can be done online.
It’s quicker and allows you to focus on other aspects of the business.
# Hire the Right Employees
The employees you hire can make or break your business. Employees are a direct representation of your brand and act as the face of the company. Ensure you hire people who understand what it means to provide quality customer service.
Finding the right employees starts with the job description you post. Be descriptive in what you’re looking for in an employee and the necessary qualifications to join the team.
From there start conducting interviews and give yourself enough time to complete the onboarding process, beginning with a background check.
* The Business Startup Checklist
You’re never going to find a business startup checklist like ours. Don’t forget to select a unique business name and take the time to hire the right employees before launching your brand.
Ready to open your doors and change the world? Before you go don’t hesitate to check out some of the other articles, we’ve published right here for you.