• Ann Lim

Checklist for New Business Set Up

Updated: Aug 28, 2019

When you start your own business, there are a whole lot of things to take care of. A check list helps to keep you on track and gives you a quick visual status of your progress. Here is a list that I have found useful, based on recommendations from the SBA as well as my own experience when setting up Sweetspires. I will write about particular categories in future blogs. Hope this helps you and do let me know if you have found other items that are necessary. I will acknowledge your contribution if I add it to this list – thanks!


☐ Create an initial business plan – what is your product/service, who is your target customer, why is your offering better than your competitors


☐ Pick location for the business

☐ Choose business structure

☐ Choose business name – check with your state registry and domain name providers

☐ Register domain name

☐ Set up business email

☐ Get Federal Tax ID or EIN

☐ Register with your State

☐ Get business licence

☐ Open business bank account

☐ Get business insurance – depends on your business. For mine, I require general liability, profession and worker’s compensation insurance


☐ Choose Accounting software – to link to your bank account, to track expenses and invoice clients

☐ Use Financial Projections template


☐ Design logo

☐ Build website

☐ Create business card

☐ Create flyer/brochure

☐ Social Media – LinkedIn, Twitter


☐ Set up CRM

☐ Create proposal template

☐ Create contract template


☐ Create job description

☐ Create a compensation plan : salary, benefits – health insurance, 401K, holidays, bonus

☐ Register as an employer with the state

☐ Get worker’s compensation insurance

☐ Set up health insurance

☐ Set up 401K plan

☐ Set up payroll platform – automatically deduct Fed, State, unemployment insurance

☐ Create job offer letter

☐ Report new hire with the state. Your payroll provider might also be able to do this for you

Onboarding : Employees to fill I-9, Federal withholding W4, State Witholding and Direct Deposit forms

Checklist to open a new business
Opening shop

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