Checklist for Starting a Small Business


1. Prepare a written business plan.

2. Decide on form of ownership. The most common forms are Sole Proprietorship, General Partnership, Limited Partnership, Corporation, and S Corporation. The tax and legal implications differ for each form. Consult an attorney and a CPA for advice and details of these implications.

3. Register for an assumed name at the local courthouse.

4. If the business will be a general partnership, limited partnership, corporation, or S corporation, see an attorney for assistance with partnership agreements or articles of incorporation. A list of attorneys can be found under Laurens County Resources & Phone Numbers in the related links box at left.

5. Open a business checking account. Do not use your personal accounts for business transactions. Get to know your banker now and use his/her advice. A list of bankers is also available in the Laurens County Resources & Phone Numbers pdf.

6. Obtain a business license for the municipality in which your business is physically located, and for any municipality in which you plan to do business.

7. Check with city and/or county zoning office for zoning approval, occupancy permits, and sign permits, even for home based businesses.

8. Obtain a federal ID number. Use Form SS4 from the IRS. You may mail this form to the IRS or call (404) 455-2360 to obtain the number by phone. For a sole proprietorship, the owner's social security number can be used if you have no employees.

9. Register your business with the South Carolina Tax Commission. Use Form SCTC-111. This form may also be used to obtain an employer withholding number (if you will have employees) and retail license (if you will be selling merchandise).

10. Attend an IRS Small Business Tax Workshop, offered once per quarter, in Greenville. Call 253-3031 to reserve seating. It is free and runs from 9:00 a.m. to 4:00 p.m.

11.Consult an insurance agent for information on liability, workers' compensation, casualty insurance, bonding, etc. A list of insurance agents is available in the Laurens County Resources & Phone Numbers pdf.

12.Consult an accountant or bookkeeper for advice on establishing a bookkeeping system. A list of accountants and financial advisors is available in the Laurens County Resources & Phone Numbers pdf.

13. Check into any other licensing or registration that may be required for your particular type of business (OSHA, Health Department, ABC, Department of Agriculture, hazardous materials, occupational and professional licensing boards, etc.). The numbers to many of these agencies can be found in various pdf files in the Related Links box at left.

14. Check into all trade organizations in your area, or in the areas in which you plan to do business.

15. Although not specifically with regard to new businesses, if you hire an employee, you must complete Federal Form I-9 and have it available for inspection if requested. The form is intended to verify employment eligibility (citizen or visa status) for all employees.