Starting a business requires a ton of planning and a high attention to detail. That is why every entrepreneur should have a business startup checklist to make sure they do not forget even a single thing. You want to make sure you check every box before you start your own business. Keep reading below for our checklist for opening a business that includes all the most important things that you definitely do not want to forget.
Get The Legal Stuff Done
Do not put off getting your legal business matters in order. You want to make sure you incorporate your business, apply for an EIN, or Employer Identification Number, and apply for any and all business licenses your state may require. Taking care of these line items as soon as possible is a good idea. This way, your business is totally compliant and legally operating. You definitely do not want to forget these important business startup checklist items. Otherwise, you may have to close your business before you even officially open your doors.
Open Your Business Bank Account
You will need to set up a business bank account for your new venture. You will also want to take this time to apply for business credit cards. Make sure you reach out to any banks you plan on opening accounts with to ensure you meet the requirements, whether you plan on opening an account with Citibank business or some other institution. Entrepreneurs should also be prepared to have all the necessary paperwork ready to apply for business bank accounts. This is a part of all startup requirements. However, it is very easy to put it off for later. Do not fall victim to this temptation. Get your business financials sorted out as soon as possible.
Find A Location
Obviously, no entrepreneur will forget to find a location for their business. However, you also need to remember the parts of this process that many forget. In addition to finding a business location, you may also want to purchase insurance for your company. Consider property coverage, workers’ compensation insurance, general liability insurance and other useful insurance policies. This is an important part of any business startup checklist. However, it is one easily forgotten by many entrepreneurs and small business owners.
Hire A Business Accountant
Hiring a business accountant should certainly be on your checklist for starting a business. Business accounting is a difficult task. You may find that a business accounting software is enough for your needs. Or, you may find that you need the services of a qualified professional with a CPA certification. Either way, make sure you have an effective way of managing business taxes and finances. This is a must when you are opening your own business.
Invest In Business Technology
Investing in the best business technology within your budget should definitely be a line item on your business opening to-do list. Business software can help you streamline operations and improve efficiency and productivity overall. This is a wise investment for any business owner. You may even want to consider hosted VoIP solutions and similar. If you want your new business and its employees to operate at maximum efficiency, make sure you include business software solutions somewhere on your startup checklist.
If you are about to start the process of opening your own business, having a checklist on hand will make the task much more organized and less anxiety-inducing. With a business startup checklist, you will not have to worry about forgetting a single thing. Make sure to include the above items on your business startup to-do list in order to set yourself up for a successful business opening.
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