Set Up Your Business - in Minutes!
We have a DIY option you can use to save time and stress.We help you:
- Determine the best business structure
- File the right paperwork
- Stay compliant with the law
Prefer to work with a lawyer?Find one right now.
By FindLaw Staff | Legally reviewed by Joseph Fawbush, Esq. | Last reviewed September 21, 2022
This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw’s team of legal writers and attorneys and in accordance with our editorial standards.
The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area.
Starting a new business can feel overwhelming, even for seasoned entrepreneurs. Fortunately, with organization and planning, running a start-up is often both financially and personally rewarding, even if the level of success can't be guaranteed.
There are hundreds of details that need to be addressed before you open to the public. It's a good idea to create a business startup checklist to ensure you haven't forgotten anything. Below you will find a template for a business startup checklist. Refine it to meet the needs of your specific type of business and the legal requirements of your industry.
FindLaw's Starting a Business section has links to additional articles and resources to help new business owners get started. You can find location-specific information by checking out State Resources: Starting a Business.
Creating a business plan is a good first step when it comes to testing the feasibility of a business idea.
___ Read up on how to write a business plan
___ Review the business plan outline and begin your research
___ Create or gather all of the financial documents you will need to demonstrate that your business is financially viable.
___ Identify sources of financing and craft a sales pitch. Seed money often comes from family and friends, but you may also be looking to banks or equity investors.
___ Brainstorm until you have several names that fit your business.
___ Check to see if your ideas are available as domain names.
___ See if your prospective business names are available.
___ Register your business name!
Investigate the different types of business structures. It may be helpful to talk with a small business attorney or the local office of your Small Business Administration (SBA). Ensure that you have considered the pros and cons of each type of business structure. If you choose the wrong type of business entity, you may have to close the business and re-open under another name in order to change it. It's worth it to ensure you make the right decision the first time.
___ Research business structures:
___ Determine how many owners the business will have.
___ Assess your business risks.
___ Determine the best tax structure for the business.
___ Decide if you'd like to sell stock in the business in the future.
___ File for federal and/or state trademark protection, if necessary.
___ Register for your domain name.
___ If required, register your name as a fictitious business name with your county clerk.
___ Partnership:
___ LLC:
___ Corporations:
___ Non-Profit
Your first decision will be whether to rent, buy, or build a business location.
___ What features does your business space require?
___ What is the maximum rent you can pay?
___ Research geographic locations and determine which one is the best fit.
___ Check the zoning laws for the locations you are considering.
___ Negotiate the terms of a lease or purchase agreement.
___ Call an agent and explain the insurance needs of your new business. Tell them the type of business, the types of products, the business location, the kinds of liability your business might face, and the numbers and types of employees you will have.
___ Compare quotes from different companies and for different levels of coverage.
___ If your business uses vehicles, be sure to get business auto insurance liability coverage.
___ Consider getting health insurance, disability, and/or life insurance for you and your employees.
___ If your business manufactures dangerous products, buy product liability insurance.
___ For businesses with employees, file for a federal employer identification number (a tax ID number)
___ Register with your state for workers' compensation insurance.
___ If you plan on selling retail goods, get a seller's permit from your state.
___ Get a business license.
___ Buy small business accounting software.
___ Choose whether to run your books based on the cash or accrual method.
___ If your business cycle doesn't follow a normal calendar year, pick a fiscal year if permitted.
___ Create a system to monitor accounts payable and receivable.
___ Think about hiring an individual or a firm to help with the books.
___ Set up a business bank account.
___ Get a business credit card.
___ Examine the basic tax scheme for your type of business.
___ Set up an IRS account so you can pay taxes.
___ Set up an account with your state Department of Revenue so you can pay state business taxes and forward any sales tax that your company collects.
___ Learn the difference between capital and current expenses, and figure out which ones apply to you.
___ Get business cards.
___ Set up any social media accounts you will use. Don't forget LinkedIn. It's one of the most useful sites to hire employees.
As you can see, there are quite a few moving parts involved in starting a new business. It's a great idea to reach out to a local business organization attorney to ensure that you're in compliance with applicable laws and regulations as you get your business off the ground. It could end up saving you a lot of time and worry down the road.
Was this helpful?
Contact a qualified business attorney to help you navigate the process of starting a business.
We have a DIY option you can use to save time and stress.We help you:
Prefer to work with a lawyer?Find one right now.