Choose the Right Business Structure
Your business structure (e.g., sole proprietorship, LLC, corporation, or partnership) affects your taxes, liability, and legal requirements. Choosing wisely saves time and money.
Consult a financial advisor or an attorney to determine the best option for your goals and risk tolerance.
Establish Business Bank Accounts
Separate checking, savings and credit card accounts help simplify bookkeeping, protect personal assets and build credibility.
Select a bank with a focus on small businesses and open your accounts.
Set Up Bookkeeping and Accounting Systems
Use bookkeeping software to track income, expenses and taxes. This ensures financial clarity and supports smart decisions.
Reconcile your accounts monthly to catch errors early.
Secure Financing
Many startups need funding for launch and growth.. Consider loans, credit lines, grants or investors.
Develop a business plan to support funding requests.
Get business insurance
Insurance, such as general liability, workers’ compensation or property coverage, protects against costly risks.
Regularly review your coverage as the business evolves.
Prepare for taxes and compliance
Stay current on income, payroll and sales taxes. Identify the licenses and permits your business requires.
Work with an accountant to stay compliant and avoid penalties.
Start Strong with the Right Financial Structure
A smart setup supports business growth. Let a trusted partner like PNC guide you through the process.
Schedule an appointment with your PNC banker to get more guidance and explore financial solutions for your business.
