Setting Up Your New Business: An AI & Web Guided Startup Checklist (Disclaimer Attached)
"New Business Set Up Checklist" – your all-in-one guide to setting up a new business with confidence and efficiency. Whether you're a budding entrepreneur or an aspiring business owner, this checklist will walk you through the essential steps required to establish a strong foundation for your venture. From registering your business name to complying with legal obligations, each item on this checklist is meticulously curated to ensure you have a seamless journey toward launching your dream business.
Register a Fictitious Business Name (DBA), if applicable
This allows you to operate under a distinct and recognizable brand without using your personal name. Additionally, having a registered DBA name provides transparency to customers and suppliers, enhancing trust and credibility in the marketplace.
Confirm Business Name
Check State Business Name Search, Search Engines, Social Media & Domain Name Usage platforms to make ensure there are not any other businesses using the name and or in the same industry to alleviate any confusion for your customers and potential legal ramifications.
Choose Business Structure/Entity
Now's the time to decide if you're going to be an LLC, Sole Proprietor, B Corp, etc. Check with your accountant, attorney or business advisor for the best option or your local SBA website.
Register with the Secretary of State, if applicable (LLC, Corporation, LP, LLP or GP)
This grants official recognition of your business entity, establishing its legal existence and credibility. Additionally, being on record with the Secretary of State facilitates smooth transactions with banks, suppliers, and customers, enhancing the business's legitimacy and growth potential.
Secure Domain & Social Media Handles
By owning these digital assets, you can protect their brand identity from potential competitors and ensure that customers can easily find and engage with your business.
Apply for EIN/Tax ID #, if applicable
The most common reasons for this are starting a new business, opening a bank account, hiring of 1 or more employees, operating a new LLC, forming an Estate after a death, filing federal income taxes, establishing a Trust account, organizing a Non-Profit, getting a business license and other IRS compliance reasons.
Apply for Business License
A business license is not required in some states, however, required by most cities. Look up your local state and city business license requirements.
Open Business Banking Account
This will help you separate personal and business finances, enabling better financial organization and tracking of expenses. Additionally, having a dedicated business account builds credibility with customers and suppliers. Finally, it simplifies tax reporting and financial analysis, making it easier to manage and grow the business effectively.
Apply for Servicemark or Trademark
Upon finalizing your business name and logo, this can be crucial as it provides legal protection against potential infringement, safeguarding your brand identity and reputation. By securing these intellectual property rights, you can prevent competitors from using similar marks, ensuring exclusivity in the market. Additionally, a registered trademark or servicemark adds value to the business, making it more attractive to investors and customers who associate the mark with quality and authenticity.
Congratulations! Empowered by our New Business Formation Checklist, you are now equipped to confidently embark on your entrepreneurial journey, turning your vision into a reality with the right guidance and dedication. Remember, success lies in your commitment to excellence and continuous learning as you build a thriving business. Best of luck!
Disclaimer: The information, advice, and recommendations provided for business startup purposes are solely for general informational purposes. Julie Monique Evans, Intuitive Freedom, or any of its advisors & employees are not responsible for any actions taken based on this information. This business formation checklist is intended for general informational purposes only and should not be considered as professional advice. The use of this advice and recommendations is at your own risk, and we shall not be held liable for any damages, losses, or consequences arising from its application. For personalized and professional business startup advice, it is essential to seek guidance from qualified experts and consultants.