Start Up Check List

So you have decided to go ahead and start your own business. You know what you are good at and what you need help with, and you may have an idea…or not!

 

Below is a basic Start Up checklist to point you in the right direction and give you a heads up. It is not by any means your only source of information, there are excellent resources available in our Resources and Links section, here you will find more detailed information. Consider all that apply to your situation.

  • Think of a business idea you would like to pursue

  • Research to confirm that you have a viable business opportunity

  • Write a business plan

  • Meet with a professional (lawyer, accountant, business consultant, mentor)

  • Explore financial optionsChoose your business structure:

    • Sole proprietorship

    • Partnership

    • Corporation

  • Register the business name at any registry office

  • Select a location:

    • Office/Commercial space

    • Home-based

  • Apply for any required business licenses and permits

  • Learn about the tax implications for the (I.e. declaring revenue, deductions..)

  • Set up a bookkeeping system or speak with an accountant

  • Obtain a business number from the Canada Revenue Agency if you meet the following criteria:

    • Paying corporate income taxGoing to have employees

    • Collecting GST (making over $30,000 in sales over a 12 month period)

    • Importing or Exporting

  • Set up a business account

  • Telephone/fax line for the business

  • Acquire commercial or business insurance you may need

  • Consider obtaining rights for intellectual property:

    • Trademark

    • Copyright

    • Industrial design

    • Patent

  • Develop marketing materials (brand/design, logo, business cards, brochures etc.)
  • Create stationary and standard office templates (letterhead, invoices etc.)
  • Understand the human resource requirements if you are hiring employees
  • Contact the workers compensation board if you are hiring employees
  • Consider accounting software for bookkeeping (Quickbooks, Sage 50 etc.)
  • Hire a lawyer to assist with creating business contracts or other agreements
  • Consider which method of payments you will be accepting (cash, cheque, credit cards, debit etc.)
  • Purchase a receipt book or track/print via accounting software
  • Purchase office supplies
  • Purchase tools and equipment
  • Order inventory
  • Prepare necessary signage
  • Organize business information, paperwork and files using categorized folders/binders
  • Obtain the rights for website domain name and set up email address
  • Design your website or hire a professional
  • Find a web hosting company (web design company will do this for you)
  • Market and advertise your businessKeep any necessary records

HOURS

MONDAY - 9 am to 3 pm

TUESDAY - 9 am to 3 pm

WEDNESDAY - 9 am to 3 pm
THURSDAY - 9 am
 to 3 pm

FRIDAY - By appointment only

ADDRESS

  • RABC Cold Lake
  • RABC Cold Lake
  • RABC Cold Lake

Cold Lake, AB
advisor@northeastrabc.com

Tel: (780) 812-6156
 

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