Over 500,000 small businesses are founded every month in the U.S, which proves we’re a nation of entrepreneurs.

Opening a business is a fantastic way to capitalize on your passion and be your own boss. But if this is your first rodeo, knowing where to start can feel daunting. Maybe that’s what brought you here; you’ve always dreamt of opening a business and you need guidance.

Sounds like you? Luckily, we’ve got what you need. Read on for the only business startup checklist you need.

Create a Business Plan

Regardless of the type of business you’re opening, creating a robust plan is a must. This should include your financial objectives and how you’ll achieve them.

Note, if you’re reaching out to lenders, a strong business plan is essential, as it proves you’re on the right track and can eventually pay them back.

But if you’re feeling overwhelmed, view these ecommerce accounting services and they will guide you through the process.

Open the Company Bank Account

Once you’ve dived into the world of business ownership, you must open a company bank account. Contact the bank to open an account to learn about the specific requirements and documents you need. This is crucial because if a future consumer tries to sue your company, they can’t target your personal assets.

Apply for an Employer Identification Number

When you’re opening a business vertical, you must apply for an Employer Identification Number (EIN). This is essential for opening a business and bank account. Also, it separates you from your company, which protects you.

Choose a Business Name

The most exciting part of becoming a small business owner is choosing a name. Take the time brainstorming names until you find one that’s stuck in your target audience’s minds. But make sure you conduct several Google searches to ensure no businesses already have the name.

Get Permits and Licenses

Every smart business should research the types of permits and licenses required to legally operate in your state. If not, you could be fined or shut down. Also, many industries like building contractors, accountants, and real estate agents need state licenses.

Create a Website

Around 27% of small businesses don’t have a website, which means they’re missing out on valuable customers. It also proves that you’re credible and have better products than your competitors. If not, consumers won’t know whether you’re worth the time and money, so you lose out in the long run.

Register Your Domain Name

Once you’ve finished designing the website, register for a domain name. Make sure that it matches your business so it’s memorable. If you don’t pay for one, customers won’t think you’re running a real company.

Enjoy Our Business Startup Checklist

Hopefully, you’ll now use a business startup checklist to help you.

Start by creating a robust business plan and choosing a great name. You should also apply for the necessary permits or licenses and create a website to raise awareness. Good luck!

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