Background work

• Identify and assess your strengths and weaknesses
• Establish your business and personal goals
• Assess your financial resources
• Identify the financial risk factors
• Determine the start-up costs
• Decide on your business location
• Do market research
• Identify your customers
• Identify your competitors
• Develop a marketing plan

Business transactions

• Select a lawyer and maintain the relationship
• Choose a form of organisation (proprietorship, partnership, or corporation, for example)
• Create your business (register your name, incorporate the business, etc.)
• Select an accountant or auditor
• Prepare a business plan
• Select a banker
• Set up a business checking account
• Apply for business loans (if applicable)
• Establish a line of credit
• Select an insurance agent
• Obtain business insurance

First steps

• Get business cards
• Review local business rules (octroi, codes, etc.)
• Obtain a lease
• Line up suppliers (if applicable)
• Get furniture, equipment and fixtures
• Obtain a business licence or permit (if applicable)
• Join a professional organisation
• Set a starting date to commence business.

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