Business Start-Up Checklist

While there are many factors to consider when starting a business, these are common questions entrepreneurs should ask. Have you?

  1. Prepared a business plan?
  2. Selected a CPA for advice on setting up the business?
  3. Selected an attorney for advice on setting up the business?
  4. Determined the type of business entity you will form your business as?
  5. Drafted an operating (partnership) agreement or articles of organization?
  6. Obtained a federal I.D. number for business tax filings?
  7. Obtained a state I.D. number for business tax filings?
  8. Obtained any necessary business licenses required by your state or city?
  9. Determined how your business will be financed (debt v. equity)?
  10. Opened a bank account strictly for business purposes?
  11. Selected and implemented accounting software to track all business income and expenses?
  12. Considered hiring a bookkeeper to manage daily accounting functions?
  13. Researched different health insurance options?
  14. Understand benefit of self-employed health insurance?
  15. Understand employer responsibility for employee health insurance?
  16. Researched types of general business insurance?
  17. Researched retail or office space options?
  18. Understanding of employee vs. independent contractor IRS status?
  19. Considered seeking a business mentor?
  20. Chose a tax year?
  21. Selected a payroll service?
  22. Chose an accounting method (accrual vs. cash)?
  23. Determined how to accept payments (cash, credit card, check, mobile, PayPal)?
  24. Determined how to pay vendors?
  25. Determined how to pay employees?
  26. Determined other employee benefits (retirement, life insurance, etc.)?
  27. Drafted a non-compete agreement for new employees?
  28. Drafted a non-disclosure agreement for employees?
  29. Determined record keeping methods such as paper or electronic documents?
  30. Researched IT infrastructure (software/hardware, network, data security, backup systems)?

More Information
Check out the Business Start-Up Roadmap for more guidance in starting your business. To learn more about our services or arrange meeting with our team, please contact: Dave M. Finklang, CPA/CGMA, MBA, 314-655-5566,, or click here to contact us.