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There are a number of steps that should be taken before starting a small business in southeast Alabama. A detailed description of all the steps involved in starting a small business is discussed in the following sections of this book. The following checklist is designed for use as a general reference guide by the business owner to plan and prepare adequately for entry into the world of entrepreneurship.
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Prepare a written business plan with financial statements included. |
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Decide whether you wish to operate as a sole proprietorship, partnership or corporation. |
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Establish a source of adequate and reliable financing. |
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Check on zoning ordinances. |
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Select a suitable location. |
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Retain an attorney and CPA, if appropriate. |
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Acquire all necessary licenses and permits. |
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Obtain tax ID number and forms. |
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Open bank accounts. |
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Choose an accounting system and method of inventory control |
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Arrange for utilities, telephone and other services. |
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Determine insurance coverage needs. |