Here are a few good things to do before starting your business:
n Identify all the actions that must be performed and prepare a task list with target dates for accomplishing the tasks. For example, determine if business ownership is for you, assess your skills and gain business experience, if you have none.
n Evaluate whether you want to start a business from scratch or buy an existing business.
n Identify your advisers, including an attorney, an accountant, an insurance agent, a business counselor and a bank.
n Set up a separate bank account for your business before you spend the first dime on it. Your business plan must provide a detailed road map for the operation of the business but, perhaps more importantly, determine the viability of the business before you get into it. Ask whether it will be profitable.
n Determine the licenses, registrations and other governmental requirements to start a business. Locally, the requirements for licenses and permits vary by jurisdiction.
n In Evansville, for example, there is no general business license requirement but businesses must register with the Vanderburgh County recorder even if the business has headquarters outside of Evansville but does business in Evansville. A landscape maintenance business, operated out of Newburgh, must still register with the Vanderburgh County recorder, for example.
n Select the location of your new business and a name. To avoid copyright or trademark infringement, Google “trade name search free” or “trade name search Indiana.”
— Evansville SCORE
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