Starting a new business takes a lot of planning. There’s a lot involved if you want your business to grow and succeed. This checklist for starting a new business will help you get started.
Background work
- Analyze your business idea by doing a SWOT analysis
- Assess your strengths and weaknesses as an entrepreneur
- Establish business and personal goals
- Assess your financial resources and identify potential sources of funds
- Identify the financial risks
- Determine the start-up costs
- Decide on your business location
- Do a thorough market research
- Identify your customers
- Identify your competitors
- Develop a marketing plan
Business transactions
- Select a lawyer and an accountant
- Choose a form of organization (Private Business Corporation, Private Limited Company, for example)
- Create your business (register your company name, incorporate the business, etc.)
- Prepare a business plan
- Select a banker and set up a business checking account
- Apply for business loans and grants (if applicable)
- Establish a line of credit (if possible)
- Select an insurance agent and obtain business insurance
First steps
- Prepare corporate brochures
- Build a website
- Set-up corporate email accounts
- Get business cards
Obtain a lease
Line up suppliers (if applicable)
Get furniture and equipment
Obtain business licenses or permits (if applicable)
Register with NSSA to get SSR number (if applicable)
Register with ZIMRA to get a BP & PAYE number (if applicable)
Join a professional organization or network
Choose a starting date
Prepare and deploy your communication/marketing strategy