The Ultimate Startup Business Checklist by #NewToHR

The Ultimate Startup Business Checklist

Starting a new business will always be the ultimate test of the wills. As you look to start your own empire it is important for you to consider the different aspects of what makes a business work. Anything from keeping your employees happy to saving money on procurement can have an impact on your venture and its  success. 

Today we want to talk about how you can start your own business and the steps you need to take to make your dream a reality. Whether it be an online empire or a franchising opportunity like , we are here to help you get started and make your dreams comes true. 

1. Research your Business Idea

Before you begin your business you need to ask yourself some of the following questions: 

  • Is the industry strong or sustainable? 
  • What’s my target audience? 
  • Is there a gap in the market? 
  • Who are the competition

2. Create a Business Plan

  • All good things start with a list. 

3. Choose a Business Name

  • The name you choose should be catchy, easy to remember, and unique. 

4. Choose a Legal Structure

5. Open A Business Bank Account

6. Fund it 

There are many different ways to fund a small business: 

  • Personal savings
  • Borrowing from loved ones
  • business loans
  • Credit cards
  • Investors or Angel investors
  • Government grants
  • Crowdfunding

7. Find a supplier and manufacturer

8. Rent an office 

  • Finding the right business premises might take some time but if you choose a trusted agent it will be much easier. 

9. Company Logo

  • The logo you choose will be synonymous with your brand from now on so make sure it counts. 

10. Websites and Social Media

  • Building an online presence is the key to a successful business so make sure that you open up a website and social media as soon as you can 

11. Licences and Permits

12. Business Insurance

There are many different forms of insurance you can look to get: 

  • Employer’s Liability
  • Public Liability
  • Product Liability
  • Professional Indemnity
  • Income Protection
  • Buildings and Contents
  • Business Interruption/Continuation
  • Commercial vehicle
  • Landlords Insurance
  • Goods in Transit

13. Data Protection and Information Rights

14. Intellectual Property (IP) Protection

  • This is vital when making sure that your business is firmly on the legal side of things. Whether you have a product or a business name, you need to ensure the IP is protected. There are guides on sites like to make sure you are armed with all the information you need.  

15. Money Laundering Regulations

  • The last thing you want is to face issues with money laundering within your business. 

16. Business Addresses

17. Labelling and Packaging

18. Logistics 

  • Things such as shipments, product deliveries and returns will be handled here and this can get very complex so make sure that a professional handles it. 

19. Business Stationery

20. Employing staff

  • This is the most important part of the list and the people you hire will be representative of your brand. Make sure you choose dedicated and trustworthy people who will carry your good name.

21. Marketing Plan

22. Tax and Accounting

Once you have completed everything on this list you’ll be ready to run your own successful business and make your way towards that all coveted financial freedom once and for all. 

© New To HR

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