Linton, Shafer, Warfield & Garrett CPA's - Checklist for the Business Start-Up

Linton Shafer Warfield & Garrett, P.A. are members of:

AICPA

MACPA

INPACT Americas

Frequently, when the decision to start a business moves from an idea to reality, everything seems to demand immediate attention. Important steps may be overlooked. Completing the essential steps included in the checklist will increase the efficiency and organization of a new business.

Personal Assessment

Before you make a financial commitment to your business, make sure you:
	Have motivation and energy, willingness to put in long hours with an unpredictable financial return.
	Possess business experience, background and training for the operation.
	Have leadership and organizational abilities, willingness to assume decision-making responsibilities.
	Have interest in working with many different types of people.

Planning

	Determine and define the products or service to be provided.
	Develop a business plan.
	Develop a financial plan.
	Develop a marketing and/or promotional plan.

Establishment

	Secure financing.
	Contact the necessary federal, state and local agencies for regulatory information and permit and license applications.
	Review federal, state and local tax laws.
	Obtain management assistance from resource organizations such as Small Business Administration (SBA), or Service Corps of Retired Executives (SCORE).
	Get necessary professional advice and assistance from attorneys and accountants.
	Complete all forms and pay all fees.

Implementation

	Register the business name.
	Obtain adequate insurance coverage.
	Open a separate bank account for the business.
	Hire and train employees.
	Initiate marketing plan.

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