7/25/2019 SMEToolkit-16-startupchecklist
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Checklist for Starting a New Business
This tool intends to walk you through all the issues you should
consider in view ofstarting a new business. You may adapt it to
reflect your business needs, type ofclientele, products and
services you offer.
1. Examine your motivation for business ownership and choose
abusiness suitable for you
Personal goals and motivation
Personal skills
2. Evaluate the feasibility of your chosen business
Calculate financial projections that do not count on loans
now where your living expenses will come from during the
first
year
!ake sure your family is on board
". Consider start#up re$uirements and common pitfalls
%egal forms of organi&ation
%earn permits' licenses' rules and regulations applicable to
your
type of business
(etermine the steps to establish a legal business entity
(etermine the types of records to be kept for tax purposes
(etermine the types of recordkeeping and control systems for
internal management
(etermine professional needs) marketing' advertising'
legal'accounting' tax' insurance and banking
*. (evelop your business plan
Create a business plan
+hink through details
,evisit and adapt regularly
Choose a business name and set a starting date
Choose an ade$uate location-office space
dentify your customers and potential competitors
(evelop a marketing plan
/. (evelop your financing re$uest and obtain initial capital
0. inali&e all start#up re$uirements
%egally separate yourself from your business
ign contracts and lease agreements
3pply for and obtain a business license' pay permits and
fees
4btain utilities services etc.
5et furniture and e$uipment
(esign and print business cards
