Business Start-Up Checklist
While there are many factors to consider when starting a business, these are common questions entrepreneurs should ask. Have you?
- Prepared a business plan?
- Selected a CPA for advice on setting up the business?
- Selected an attorney for advice on setting up the business?
- Determined the type of business entity you will form your business as?
- Drafted an operating (partnership) agreement or articles of organization?
- Obtained a federal I.D. number for business tax filings?
- Obtained a state I.D. number for business tax filings?
- Obtained any necessary business licenses required by your state or city?
- Determined how your business will be financed (debt v. equity)?
- Opened a bank account strictly for business purposes?
- Selected and implemented accounting software to track all business income and expenses?
- Considered hiring a bookkeeper to manage daily accounting functions?
- Researched different health insurance options?
- Understand benefit of self-employed health insurance?
- Understand employer responsibility for employee health insurance?
- Researched types of general business insurance?
- Researched retail or office space options?
- Understanding of employee vs. independent contractor IRS status?
- Considered seeking a business mentor?
- Chose a tax year?
- Selected a payroll service?
- Chose an accounting method (accrual vs. cash)?
- Determined how to accept payments (cash, credit card, check, mobile, PayPal)?
- Determined how to pay vendors?
- Determined how to pay employees?
- Determined other employee benefits (retirement, life insurance, etc.)?
- Drafted a non-compete agreement for new employees?
- Drafted a non-disclosure agreement for employees?
- Determined record keeping methods such as paper or electronic documents?
- Researched IT infrastructure (software/hardware, network, data security, backup systems)?
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, firstname.lastname@example.org, or click here to contact us.