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Entrepreneurs · Action plan

Business Startup Checklist

The real order operations happen in: decide what you're building, make it a legal entity, get your tax ID, open dedicated banking, and put pricing and bookkeeping in place before you take your first customer.

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Steps

Work through each step in order

Check off a step as you complete it. Official links open in a new tab.

Step 1
Validate the business ideaConfirm there are real paying customers for the product or service before spending on formation or inventory.
Step 2
Choose a business structureCompare sole proprietor, LLC, S corp, and corporation for liability protection and taxes.
- IRS: choose your business structure
Step 3
Search and reserve your business nameSearch your state's Secretary of State business database to confirm the name is available before filing.
Step 4
File your formation paperwork with the stateFile your LLC or corporation with your state's Secretary of State (or equivalent) filing office.
Step 5
Get your EIN free from the IRSApply directly on IRS.gov — it's free and instant. Never pay a third-party site for this.
- IRS: get an EIN (free)
Step 6
File your beneficial ownership reportMost new LLCs and corporations must file a free BOI report with FinCEN.
- FinCEN BOI e-filing
Step 7
Open a dedicated business bank accountKeep business money separate from personal from day one — it protects your liability shield and simplifies taxes. Consider a Black-owned bank or CDFI.
- OneUnited Bank
- Find a CDFI in your state
Step 8
Set up a bookkeeping systemPick one system (spreadsheet or accounting software) and record every transaction from the start; don't wait until tax season.
Step 9
Check required licenses and permitsConfirm what state and local licenses or permits your specific business and location require.
Step 10
Register for sales tax if applicableIf you sell taxable goods or services, register with your state's department of revenue to collect and remit sales tax.
Step 11
Get basic business insuranceLook into general liability insurance and, if you have employees, workers' compensation coverage.
Step 12
Build your pricing modelPrice to cover cost of goods, labor, overhead, and a real profit margin — not just to match a competitor.
Step 13
Work through the SBA's 10-step guideCross-check your progress against the federal government's own startup checklist.
- SBA: 10 steps to start a business
Step 14
Book a free SBA/SBDC advisor sessionGet free one-on-one help reviewing your plan and filings, including local Minority Business Development Agency centers.
- Find your local SBA/SBDC advisor
- MBDA Business Center locator

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