There are those who would strongly advise against launching a business during these troubled times, while others would say that fortune favours the brave and if you have a great business idea, there’s every reason to believe it will be successful. Of course, it takes a lot of research and careful planning to set up a business and in order to ensure that nothing is overlooked, here is a complete checklist for setting up a new business.
- Business Plan – Every entrepreneur should compile a comprehensive business plan that details every aspect of the business. From startup costs to digital marketing, your plan should answer any questions that a potential investor might have and this should be the guideline for all your business activities.
- Funding – There are online lenders who can help you to obtain an unsecured business startup loan and they have a range of loan packages to suit every lifestyle. This is the quickest and most reliable way to acquire funding to set up a business, plus the online lender usually gives you an answer within a few minutes and in most cases, the funds are transferred into the applicant’s account on the same day the loan application is submitted.
- Adequate Insurance – It is every business owner’s responsibility to minimise the risks to the business and you should take out public liability insurance to cover you against any claims. The business premises should be insured, along with all commercial vehicles and any stock you might hold.
- Marketing – Every business needs to have firm direction with its marketing and by approaching a digital marketing agency, they can help you to compile an aggressive digital marketing plan that outlines how the business will reach potential clients.
- Organisation Flowchart – This flowchart outlines who does what in the business and without this, you would likely encounter administration difficulties. There should be at least one manager who oversees the operation, with all parties fully understanding their roles.
- Equipment and Business Assets – All businesses require some equipment in order to carry out their business activities and all assets should be listed in your business plan.
- Company Website – Of course, your business should have a website, which is your portal to the outside world and we advise you to seek out a professional web designer who can build a suitable platform that gives your business credibility.
We hope that this checklist helps you to prepare correctly when planning to launch a new business.