New Business Checklist
Owning a business is a dream of many Americans... starting that business turns your dreams into reality, but only with careful planning. It has been said that if you fail to plan, you plan to fail. As a business owner you will need a plan to avoid pitfalls, to achieve your goals and to build a profitable business.
The following is a recommended checklist and downloads to help you plan your new business.
Start-up steps and checklists:
Is Entrepreneurship for You? (PDF) The first place to start preparing for your business plan is to evaluate your strengths and weaknesses. It's OK to have weaknesses; your challenge as a business owner will be to find the right people to make up for your weaknesses. A good management team in any business consists of a good technical person, a good marketer, and a good record keeper.
What to Do When Starting a New Business (PDF) is a checklist of things that should be done before starting the business.
The Check-List for Going into Business is a guide to help you prepare a comprehensive business plan and determine if your idea is feasible. Used with permission from the Small Business Administration.
SBA Small Business Resource Guide is an excellent guide and resource for starting a small business.
Business Plan Guides and Templates:
The Business Plan Outline (PDF) is an outline of the headings and contents of a typical business plan. This outline asks questions that can be answered by the entrepreneur to assist them in writing their business plan.
Business Plan Inventory (PDF) is a complete guide to assist you in writing your business plan.
Business Plan Template (MS Word) is a worksheet you can download and fill in with your plans for your business.
Financial Projections and Cash Flow Statements:
Fasttrac NewVenture Financial Projection Worksheet is a financial projection worksheet designed by the Kaufman Foundation.
Financial Facts Worksheet is a worksheet to help you gather relevant business expense information to use in your financial projections designed by the Kaufman Foundation.
A Financial Projection Worksheet (9MS Excel) can be downloaded and used to project cash flow, an income statement, and a balance sheet.
Employment and Sales Tax Forms:
SS4-Application for Employers Identification Number (PDF) needed by a business if employing individuals in the business, and if business is legally organized as a partnership or corporation.
SS-4-Application for Employers Identification Number-apply online!
Withholding Tax-Iowa is needed if you plan to hire employees.
State Unemployment Tax-Iowa, is needed if you employee in Iowa. The tax is designed for unemployment claims.
Sales Tax-Iowa is needed if your business collects sales tax from customers.
