Thinking About Starting a Business in 2025? A Quick Guide to Get Started

Key Takeaways: I’ve compiled a list of the following areas of business to consider, research, and set up to start your own business. These subject areas include:

Legal & Paperwork Setup
Banking & Financial Foundation
Location & Operations
Digital Presence & Technology
Marketing & Brand Development
Build Your Support Network

Some business owners plan every detail before opening on day one; others leave it all to chance. A solid business plan and some strategic planning are the best foundation to set your new business off on the right foot in 2025. If you’re thinking of starting a new business in 2025 but aren’t sure where to start, I’ve compiled a short checklist broken down by section to help get you started.

Remember that each business is unique, and you should thoroughly research the requirements, laws, and restrictions on doing business in your area of expertise and location. This list is a general guide to getting the ball rolling in 2025. I will also assume that you know what business you would like to open and have thoroughly looked over all aspects of the market for your future business.

Let’s dive in!

Legal & Paperwork Setup:

Think about and research your business structure (LLC, corporation, sole proprietorship).
Research your business name and ensure no one else is already doing business under that name. Then, register your business name and obtain an EIN (Employer Identification Number).
Apply for necessary business licenses and permits specific to your industry. Research how long this process takes, as it can impact your timeline to opening.
Register for state and local tax permits.
Create a solid business plan.
Obtain necessary insurance (liability, workers comp, professional, etc.).

Banking & Financial Foundation

Open a dedicated business bank account.
Establish a bookkeeping system or hire an accountant.
Create a detailed business budget, including startup costs- this would be included in your business plan.
Set up a payroll system if hiring employees.
Research and apply for business funding if needed.

Location & Operations

Evaluate location options (physical store, home-based, virtual).
If physical, scout your future location.
Read your lease terms and review contracts carefully if renting a space.
Set up needed utilities and business internet service.
Purchase necessary equipment and supplies.
Create an inventory management system if applicable.
Develop standard operating procedures.
Set up point-of-sale systems and payment processing.
Establish vendor relationships and supply chains.

Digital Presence & Technology

Purchase and register your domain name. Do this as soon as you register your business name!
Build your business website, ensuring it communicates what your business does.
Set up business email accounts.
Establish cybersecurity measures and data protection protocols.
Create backup systems for important business data.
Set up internal communication tools if working with a team.

Marketing & Brand Development

Create basic marketing materials (business cards, brochures, etc.).
Design your logo and brand identity.
Set up social media profiles for your business.
Develop a content marketing strategy.
Create a grand opening or launch plan.
Build an email marketing list.
Plan your advertising budget and channels.
Develop partnerships with complementary businesses.

Build Your Support Network:

Join local business organizations or chambers of commerce.
Connect with other business owners in your industry.
Find a business mentor or advisor.
Hire key employees or contractors if needed.
Establish relationships with professional services (lawyer, accountant).

Don’t feel overwhelmed if you’re reading this and unsure where to start! Use this list as a guide and tackle one category at a time. Some items might not apply to your specific business, while you might need to add others based on your industry. The Indiana Small Business Development Corporation offers excellent free resources in our area, such as SCORE and One Million Cups.

The key to successful businesses is a solid business plan that has been reviewed by someone in the industry you seek to enter or a trusted business advisor. Research as much as possible about every aspect of your business and future customers or clients before making big decisions. Most of all, take it one day at a time. As the saying goes, Rome wasn’t built in a single day.

I hope you’ve found this blog post to be a helpful place to start. These general tips are a launch point to achieve your dream of opening a business in 2025. Do you have an item to add to the list? Tell us in the comments below.