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Business Start Up Checklist

Things to Do on your Way to Opening Day

Turn your dream of owning a small business into reality with help from CorpAmerica.   Maybe the idea of starting a small business came to you in a dream, or maybe it's the reason you haven't been sleeping at night.  Starting your own business can seem like a challenge.  We hope that this new business checklist helps simplify things. 

Establish your Own Business with these 14 Essential Steps

• Create and register your business name. Give your startup a name that fits. You will want a name that is unique but allows your customers to easily understand what you do.  It will make an important first impression and be the foundation for future marketing efforts. Simple yet memorable is the goal.  After you have decided on a name, consider incorporating or forming an LLC with CorpAmerica to protect your name in your state. We will perform a name search to ensure no other businesses in your area are using your preferred name.  This step will also prevent other local businesses from using it in the future.  Next, you may want to research and purchase a domain name for your future Web site.
• Write your business plan. A strong business plan can be your guide to success. It is an opportunity to sell your vision of the company and outline the steps you will take along the way.  Many entrepreneurs seek assistance with finding sample plans and learning the standard structure and components.  CorpAmerica recommends Business Plan Pro software as an easy, complete, and affordable tool to help you get the job done.  Once finalized, you will want to share your business plan with potential investors, legal advisers and employees. 
• Secure the financing to get started.  It takes money to start a business. Many entrepreneurs use their own savings for start-up.  While this means you may have to start smaller than you imagined, it also means you will have fewer debts to pay back later.  If you think you will need a loan to get started, start early. It can take up to 3 months, or more, to secure financing. If you need to approach an outside investor, you should know now that they will expect to see a business plan.

• Obtain your Employer Identification Number. A vital step for a new business of any size.  If you plan to hire employees or incorporate, you'll need to request an Employer Identifcation Number (EIN).  CorpAmerica can obtain an EIN Number for your business from the IRS for just $75.  If your purchase our "complete business formation package" an EIN is included at no additional cost.

• Establish your business entity. Take the steps to legally add Inc. or LLC to your name.  Forming a business entity helps to protect your personal assets, create additional tax benefits, and add credibility to your company. The most common types of business entities are the C Corporation, S Corporation, and Limited Liability Company (LLC).  CorpAmerica will help you understand the differences among them and incorporate or form an LLC online in four easy steps.  We believe in securing your right to save both time and money.  Our business formation packages start as low as $49, plus applicable state fees.  Request a free business formation guide to learn more.
• Obtain necessary business licenses and permits. Having the proper licenses will put you in good legal standing.  The licenses you need to start a business vary from state to state, city to city, and county to county.  Nearly all businesses need some form of license and most government agencies require that you submit the required applications and permits before conducting business. CorpAmerica can help you identify what licenses and permits you need to operate in your area.  Order your Business License Compliance Package today, starting at just $75.
• Understand your competition. Little things can make a big difference in the success of your new business.  Visit a few competitors in person.  Examine their pricing structure and advertising, and look to see how their office is set up.  Next, check out the online competition by searching the Internet.  Use the ideas you see as inspiration to make your business better than the rest.
• Protect yourself and your employees.  If you plan to have employees, you will need to pay for both unemployment insurance and workmen's compensation insurance. These will help protect you should you be forced to terminate an employee or have one become injured on the job. Now is also a good time to begin writing an employee handbook so that everyone understands your expectations and procedures.
• Choose a location. Consider size, rent, accessibility, competitors¿ locations and more. Location is vital to the success of any business. If you plan to offer only a service at first, consider operating your business out of your house. This will help keep initial costs down. Should you feel an office or storefront is necessary, evaluate rental costs, parking, accessibility, and the surrounding business climate. After you have decided on a location, make sure that it is zoned properly for your use before you sign a lease.
• Establish your mailing address. Once you have signed your lease, it is time to have your mail forwarded to your new address. If you have decided you will be operating your business out of your house at this time, consider establishing a P.O. Box. This helps improve the credibility of your business. Visit your local post office to complete this paperwork.
• Order your business cards and letterhead.  You will want to begin building your client and customer base as quickly as possible. Business cards are an invaluable networking tool, and letterhead will be useful for follow-up communications. Both of these items, along with having a logo designed, will help your business seem more established.  CorpAmerica has partnered with LogoYes to bring you these services.  Their do-it-yourself logo solution will likely be the most affordable option. 
• Open a business account. Take the steps to properly manage your money.  A business account allows you to keep your professional and personal expenses separate .  It also helps simplify your paperwork and tax filing in the future.  Keep in mind that you will most likely need to obtain an Employer Identification Number (step #4) prior to establishing a new bank account.
• Schedule opening day. Celebrate! It is time to officially go to work.  As you begin to check things off this list, set a date for your grand opening. Invite local politicians and the local press to attract potential customers. Also, setting a date now will help you focus on tying up any loose ends.
• Get help when you need it. Whether or not you will have partners, it's always good to have a team behind you.  Family and friends will help get you through the tough times, advisers will help you make business decisions, and CorpAmerica will help you get it all started.  As the low cost leader in business formation services we are affordable and easy to use. You can turn to us every step of the way to help you do it right. 

It is a lot to do, but you do not have to do it all by yourself. When you are ready to move forward, call a Business Services Specialist at 877-246-2462 (toll-free) or 302-636-5448 to learn about the many ways CorpAmerica can help you get started and provide continued support as you grow your business.