Starting a Business Checklist

General Information	Yes	No	N/A
Has relevant personal information been gathered: Name of other participants in the business
Has the financial situation been assessed? Income Expenses Assets Liabilities
Has professional team been assembled? Accountant Attorney Insurance agent
Notes:
Getting Started	Yes	No	N/A
Have the necessary licenses been secured?
Has start date been determined?
Has location been secured?
Will equipment be purchased or leased?
Have employees been hired?
Have suppliers been contacted?
Has a name for the business been chosen and researched for availability?
Has the business plan been developed? Description of the business Market identified Operating costs Profit expectations
Has the type of organization been decided upon? Sole proprietorship Partnership Corporation (C or S) Limited liability company
Has a checking account or other bank account been opened?
If so, who is the signature authority?
Notes:
Financing	Yes	No	N/A
Has capital been raised? Available savings Traditional lenders Second mortgage/home equity line of credit Sell assets Borrow from friends/relatives Partnerships Investors
Has financial data been collected? Budget Start-up costs Cash requirements Break-even forecast
Notes:
Insurance Planning	Yes	No	N/A
Have insurance needs of the business owner been reviewed? Health Life Disability Property, casualty, and liability Auto
Have business insurance needs been considered? Business liability insurance Group life, health, and disability for employees Key employee life and disability insurance
Notes:
Retirement Planning	Yes	No	N/A
Will the business owner alone participate in a retirement plan? Individual 401(k)/Profit-sharing Defined benefit SEP-IRA IRA
Will employees participate in a retirement plan? (May be required if business owner participates in a plan) 401(k) Defined benefit Profit-sharing SEP-IRA SIMPLE IRA SIMPLE 401(k) Payroll deduction IRA
Notes:
Estate Planning	Yes	No	N/A
Have business succession needs been considered? Buy-sell agreement and necessary funding Sell business Transfer business with lifetime gifts
Notes:
Tax Planning	Yes	No	N/A
Have tax advantages/disadvantages of different business entities been reviewed with accountant?
Have tax issues unique to business owners been considered? Deduction and credits Taxable income Employee fringe benefits Record keeping
Notes:

If you have questions or need assistance setting up your business, contact the Experts at Henssler Financial: experts@henssler.com or 770-429-9166.

Disclosures

The following information is reprinted with permission from Forefield, a division of Broadridge Financial Solutions, Inc. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing. Henssler is not licensed to offer or sell insurance products, and this overview is not to be construed as an offer to purchase any insurance products.

Disclosures

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