Starting a new business can be exciting, but it can also be overwhelming. There are many tasks to complete and decisions to make. Here is a checklist of some of the things you will need to do in order to set up a new business:
Choose a business name: Select a unique and memorable business name that reflects your brand and what you do. Check to make sure the name is available and not already in use by another business.
Choose a business structure: Decide on the type of business entity that is best for your company. This will depend on your specific needs and goals, as well as the level of personal liability you are willing to accept.
File the necessary paperwork: Depending on the type of business you have chosen, you may need to file a certificate of formation, articles of incorporation, articles of organization, or other documents with the state government.
Obtain any necessary licenses and permits: Depending on the type of business you are operating, you may need to obtain specific licenses and permits in order to legally operate your business.
Set up a business bank account: It is a good idea to keep your business finances separate from your personal finances. Set up a business bank account to manage your company's financial transactions.
Create a business plan: A business plan is a document that outlines your business's goals, strategies, and financial projections. It can help you stay organized and focused as you start and grow your business.
Build a website: A website is an important marketing and sales tool for businesses of all sizes. Consider building a website for your business to showcase your products or services and provide information to potential customers.
Establish a marketing plan: Determine how you will reach and attract customers to your business. This can include developing a marketing strategy, creating marketing materials, and utilizing social media.
Hire employees: If you plan to hire employees, you will need to follow all applicable laws and regulations related to hiring and employment. This includes getting an Employer Identification Number (EIN) and setting up payroll.
Starting a new business can be a complex process, and this checklist is not exhaustive. You may need to complete additional tasks depending on the specific needs of your business. It is a good idea to seek the advice of an attorney (like me) or other professional to help you set up your business properly.