Checklist: Incorporation Basics

Incorporating your business can be complicated, but following this checklist can help ensure you don't get overwhelmed or miss any critical steps.

• Write a solid business plan. This may be the single most important step in starting a successful business.
• Choose your management team. Make sure the team members are capable and competent, with skill sets that complement one another.
• Decide on a business structure. Check with your accountant and lawyer before making any final decisions.
• Select a corporate name. Check to see if the name you have selected is available from the Secretary of State in your state, and do a Google or Yahoo search to make sure that name is available.
• Select a state in which to incorporate. While many businesses decide to incorporate in the state in which they reside, many are choosing Delaware or Nevada, which have the most corporate-friendly state laws.
• Create a capitalization plan for the corporation. By creating a carefully researched business plan that includes realistic cash flow and other financial projections, you will be on your way to success.