U.S. Small Business Administration
MP-12
CHECK-LIST FOR GOING INTO BUSINESS
Management and Planning Series
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The material in this publication may not be reproduced or transmitted in any form or by any
means -- electronic, mechanical, photocopying, recording or other -- without the prior written
permission of the U.S. Small Business Administration
All of SBA's programs and services are extended to the public on a nondiscriminatory basis.
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TABLE OF CONTENTS
INTRODUCTION 1
IDENTIFY YOUR REASONS 1
A SELF-ANALYSIS
Personal Characteristics 1
Personal Conditions
PERSONAL SKILLS AND EXPERIENCE 2
FINDING A NICHE 3
IS YOUR IDEA FEASIBLE? 3
MARKET ANALYSIS 3
PLANNING YOUR START-UP
Name and Legal Structure 4
Your Business and the Law 4
Protecting Your Business 4
Business Premises and Location 5
Merchandise 5
Business Records 5
FINANCES 6
AFTER START-UP 7
CONCLUSION 8
APPENDIXES
A. Income Projection Statement 9
B. Information Resources 13
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INTRODUCTION
Owning a business is the dream of many Americans ... starting that business converts your dream
into reality. But there is a gap between your dream and reality that can only be filled with careful
planning. As a business owner, you will need a plan to avoid pitfalls, to achieve your goals and
to build a profitable business.
The Checklist for Going into Business is a guide to help you prepare a comprehensive business
plan and determine if your idea is feasible, to identify questions and problems you will face in
converting your idea into reality and to prepare for starting your business.
Operating a successful small business will depend on
!
a practical plan with a solid foundat