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Starting A Business
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Starting a Business Checklist

 
 

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General Overview

  

Assessment of market need for product or service

  

Basic industry background of product or service

  

Business plan

  

Financing

  

Commercial loans

  

Family loans

  

Friends’ loans

  

Government grants and assistance

  

Personal

  

Marketing plan

  

Personal profile as risk taker

  

Projected income and expenses

  

Considerations for Starting Your Own Business

  

Bottom line overhead

  

Client development

  

Corporation

  

Flexibility in products and service

  

Franchise

  

High risk

  

How personal life and business life merge

  

Joint venture

  

Long hours

  

Partnership

  

Sole proprietorship

  

Buying an Existing Business

  

Buyer’s comfort level with business

  

Due diligence

  

Owner’s reason for selling

  

Personal interest in business

  

Your reason for buying

  

Location

  

Building – suitable appearance exterior and interior for type of business

  

Acoustics

  

Comfort

  

Floors

  

Heating

  

Landscape

  

Layout

  

Lighting

  

Outside storage

  

Packing

  

Snow removal

  

Waste disposal

  

Zoning – present

  

Potential future changes

  

If location needs to be rezoned, time span

  

Transportation

  

Any road restrictions for trucks

  

Nearby air terminal

  

Nearby rail terminal

  

Nearby truck terminal

  

Public transit for customers and employees

  

Shipping section

  

Street accessibility for customers and employees

  

Truck access

  

Utilities

  

Gas

  

Monthly/annual price estimate

  

Power supply

  

Monthly/annual price estimate

  

Sewers

  

Monthly/annual price estimate

  

Water

  

Monthly/annual price estimate

  

Taxes

  

Current business tax assessment

  

Future increases

  

Current property tax assessment

  

Future increases

  

Other tax considerations

  

Lease

  

Landlord’s responsibilities

  

Liability for drawing lease

  

Options

  

Reviewed by lawyer

  

Short or long

  

Tenant’s responsibilities

  

Professional Assistance

  

Banker

  

Chartered Professional Accountant

  

Lawyer

  

Registration

  

Articles of incorporation

  

Federal

  

NUANS search

  

Provincial

  

Business name

  

Name search

  

Co-operative

  

Articles

  

Ministerial approval of name

  

Partnership name

  

Limited partner

  

Name search

  

Licenses

  

Building

  

Business

  

Delivery

  

Excise bonds

  

Export

  

Fuel

  

Import

  

Liquor

  

Municipal

  

Professional

  

Provincial

  

Surety bonds

  

Tobacco

  

Transportation

  

Zoning

  

Regulatory Compliance

  

Competition Act

  

Consumer protection legislation

  

Discriminatory business practices legislation

  

Similar provincial legislation

  

For particular industries

  

Athletic gym owners (i.e., boxing, wrestling)

  

Auto repair shops

  

Book and magazine distributors

  

Car dealers

  

Cemetery owners

  

Collection agencies

  

Condominium owners

  

Debt collectors

  

Funeral directors

  

Movie theatres

  

Prepaid services such as health clubs

  

Private bailiffs

  

Real estate agents and brokers

  

Travel industry

  

Health-related

  

Food inspection

  

Packaging/labelling

  

Product safety

  

Technical standards

  

Pollution control

  

Taxation

  

Capital gains tax

  

Capital tax

  

Corporations tax

  

Customs tariffs

  

Fuel tax

  

Gasoline tax

  

GST/HST

  

Income tax

  

Input tax credits

  

Land transfer tax

  

Property tax

  

Retail sales tax

  

Source deductions

  

Tobacco tax

  

Patents

  

Issue date

  

Pending

  

Registration number

  

Trade-marks and some trade names

  

Date of first use

  

Issue date

  

Pending

  

Registration number

  

Quality mark

  

Timber mark

  

Industrial design

  

First made public

  

Owned or licensed

  

Registration date

  

Copyright

  

Author

  

Owned or licensed

  

Performing rights societies (i.e., Socan)

  

Registration

  

Certification

  

Canadian Gas Association

  

Canadian Standards Association

  

Electrical inspection

  

Laboratory underwriter

  

Industry certificates (as required by provincial law)

  

Industry Certification of Other Trades (which may be optional)

  

Labour Relations

  

Business information

  

Canada/province business service center

  

Employment Standards Act (or similar provincial legislation)

  

Equal pay and opportunity

  

Minimum wage

  

Provincial ministry

  

Source deductions

  

Vacation pay

  

Workers compensation/health and safety

  

Resources

  

The Alliance of Manufacturers and Exporters Canada

  

Better Business Bureau

  

Canadian Association of Family Enterprise

  

Canadian Association of Specialty Foods

  

Canadian Association of Women Executives & Entrepreneurs

  

Canadian Center for Occupational Health and Safety

  

The Canadian Chamber of Commerce

  

Canadian Direct Marketing Association

  

Canadian Federation of Business and Professional Women’s Clubs

  

Canadian Federation of Independent Business

  

Canadian Franchise Association

  

Canadian Importers Association

  

Canadian Standards Association

  

Canadian Youth Business Foundation

  

Direct Sellers Association

  

Junior Achievement of Canada

  

Ministry of Education and Training (provincial)

  

Provincial Chamber of Commerce

  

Provincial Restaurant Association

  

Retail Council of Canada

  

Retail Merchants Association of Canada Inc.

  

Trade Associations

  

Young Entrepreneurs Association

  

 

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Keith Anderson, BCom, CPA, CA-IT, CITP Copyright September 9, 1999 Last Modified :07/16/18 04:17 PM