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Brand New Business Checklist
Starting your own business for the first time can be a very daunting experience. Trying to get everything going while scoping out your competition and praying that you can survive the first year, or even the first month! Setting up a merchant account for credit card processing will probably be the last thing on your mind, but it shouldn’t be. In today’s business world you must accept credit cards in order to have a competitive business. In addition, accepting credit and debit cards will immediately increase your sales. This article provides a checklist of what you’ll need in order to get started.
The first thing you need is a checking account. It is recommended that you have a business checking account, but if you are the sole proprietor of your business you can just use your personal checking account. If you are using your own account you are also going to need a voided check.
Next you will need a business license, a reseller license, or articles of incorporation. This is not always needed, but some merchant account providers require them, so it is a good idea to have them handy. These items prove that you are a real, established business. Depending on whether you are a brick and mortar business or an online business, you will need pictures of your office or a website. Again, this is just to prove that you are an actual business.
You will need detailed information about your returns policy. Even if you do not offer refunds, your provider will want to know. This will come in handy for them if there are ever any disputes including returns or chargebacks.
Just like applying for most things having to do with money, you will need references. Have them ready for the provider. References help them make sure that you are reliable and they can trust you.
Finally, you want to have business tax returns on hand. This is more evidence that you are a legitimate business that they can trust with their money.
The first thing you need is a checking account. It is recommended that you have a business checking account, but if you are the sole proprietor of your business you can just use your personal checking account. If you are using your own account you are also going to need a voided check.
Next you will need a business license, a reseller license, or articles of incorporation. This is not always needed, but some merchant account providers require them, so it is a good idea to have them handy. These items prove that you are a real, established business. Depending on whether you are a brick and mortar business or an online business, you will need pictures of your office or a website. Again, this is just to prove that you are an actual business.
You will need detailed information about your returns policy. Even if you do not offer refunds, your provider will want to know. This will come in handy for them if there are ever any disputes including returns or chargebacks.
Just like applying for most things having to do with money, you will need references. Have them ready for the provider. References help them make sure that you are reliable and they can trust you.
Finally, you want to have business tax returns on hand. This is more evidence that you are a legitimate business that they can trust with their money.
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