The Start-up Process
Once you contact CSBS with your intent to join, CSBS will then send a contract and invoice to you (or the designated person at your institution).
After you incorporate your BPF (all of our firms are "corporations"-- not proprietorships or partnerships), you will then need to complete the learning associated with the following start-up forms and have the students actually complete (from the links below) and submit the following four forms to CSBS:
*Please note: allow ample time for student learning in the start-up phase of the BPF (first one or two semesters/quarters). Use your creativity and set a pace that is best for you and your students. Invite colleagues and/or other professionals and/or representatives from your partner firm to present material to the students in as many areas as possible. Concentrate on the quality and depth of learning you feel is appropriate. Your goal is to build a solid foundation for student success and satisfaction now and in the future.
NOTE: To download the referenced files, right click with your mouse on the file name and choose "save as".
- The Network Enrollment Form. Complete as much of this form as you can as soon as you start the IBPF class. Leave blank any information that is not yet known; for example, firm name, firm product, etc. Also, remember to send CSBS an updated form anytime information is added or changed (new fax number, etc.) as the Center uses this information to maintain various databases (europen database).
Complete Enrollment Online
- The product/service approval form should be completed and submitted to the CSBS office online as soon as you have decided on the product/service you would like to sell. Wait approval from the CSBS office before you proceed any further. Check the list of firms on the CSBS website; we will not approve more than two companies selling the same thing unless there is a valid reason to do so.
Complete Product/Service Approval Form Online
- The Certificate of Incorporation Form. To incorporate your business, you can use a generic form or one that is germane to the requirements of your specific state. If you choose to use your "state specific" form, please fax a copy of your students' work. If you choose to use the form we provide (mostly based on New Jersey law), complete it online.
Whichever form you use, the students should spend time researching the process in your state and completing the form with your guidance and/or the guidance of a legal assistant, a lawyer, or a business law teacher. The students can offer virtual money in the form of a fake check to their "advisor/s".
To secure ample start-up funds in the firm bank account, the students can each "buy" a share of stock in the firm with "fake" checks (to be submitted to CSBS). The total amount can equal your firm's desired opening balance. A corporation can issue any amount of shares in this start-up stage.
Learn about the Certificate of Incorporation Form
View a Sample Certificate of Incorporation Form
Download the Certificate of Incorporation Form.
- Agreement on Operating Expenses. Once the students have decided on their product/service and researched related costs (real industry costs, mark-up, etc.) as well as researched/decided on their operating costs (rent, utilities, supplies), this form can be completed online. This form can be updated as often as necessary (submit changes to CSBS).
Learn about the Agreement on Operating Expenses Form
View a Sample Agreement on Operating Expenses Form
Download the Agreement on Operating Expenses Form
- Request for Firm EIN Number. The students need to apply for a firm social security number. Once this is done, the firm can request to be put on the banking system to set up a firm account and individual student accounts.
Learn about the Application for EIN Number Form
View a Sample Application for EIN Number Form
Download the Application for EIN Number Form
After completion of each learning segment, submit the completed forms to CSBS online.
*Note: the teacher will determine when the students are ready to complete and submit each start-up/incorporation form. The students need to access this form from the "Educator's" area. It is not found in the "Student" area. We have set it up this way so that the teacher can monitor and check on the accuracy of the document before it is sent. Once the forms have been completed, they are to be sent as email attachments to email@example.com.