Checklist on Starting a New Business

Background work

Analyze your business idea by doing a SWOT analysis

Assess your strengths and weaknesses as an entrepreneur

Establish business and personal goals

Assess your financial resources and identify potential sources of funds

Identify the financial risks

Determine the start-up costs

Decide on your business location

Do a thorough market research

Identify your customers

Identify your competitors

Develop a marketing plan

Business transactions

Choose a form of organization (proprietorship, partnership, or corporation, for example)

Create your business (register your name, incorporate the business, etc.)

Prepare a business plan

Select a bank and set up a business checking account

Apply for business loans and grants (if applicable)

Establish a line of credit (if possible)

First steps

Prepare corporate brochures

Build a web site

Set-up corporate e-mail accounts

Get business cards

Obtain a lease

Line up suppliers (if applicable)

Get furniture and equipment

Obtain business licenses or permits (if applicable)

Choose a starting date

Prepare and deploy your communication/marketing strategy