Every entrepreneurial endeavor is different and no checklist for starting a business is all inclusive. However, the successful establishment of any business requires that a set of pre-established steps be taken. The following are a list of issues you should be prepared to address and answer if you want to start your own business.
- Prepare a retail business plan on all aspects of the business.
- Locate or hire an accountant and attorney to advise you.
- Contact and consult with the Small Business Administration and additional agencies that offer free assistance and advice.
- File for a business permit or license with the appropriate national, state, and local authorities.
- Set up a bank account.
- Identify and secure capital.
- Identify and file necessary government papers.
- Identify and obtain necessary insurance.
- Determine space needs. Sign a lease and establish utilities if necessary.
- Establish an accounting system.
- Purchase necessary equipment.
- Contact necessary vendors and suppliers.
- Prepare an advertising campaign.
- Hire and train any necessary employees.
- Implement advertising campaign and open the business.
Compiled By Jill Crabtree - Marketing Intern, WVU Business Incubator
Posted by Matt Livengood on April 26, 2006 at 12:32 pm in the following categories: WVUBI
