Once you’ve developed a list of your business needs, note the average cost for each category.Ĭheck with the government offices in your state to determine business registration and license fees. Legal: Factor in the fees you pay an attorney to write contracts or to help you comply with industry regulations.Accountant: Businesses of all sizes often depend on accountants to balance the financial books, prepare tax returns and produce reports.Depending on your business, you may also pay sales tax or payroll tax. Taxes: Every business pays income tax.Website: Remember to account for the cost of developing and maintaining your website as well as for creating content for it.Marketing: Project your potential costs for marketing your business. Yours might include social media management, partnering with influencers or advertising through traditional channels like radio, print or TV.Inventory: If your business sells products, account for the cost of keeping inventory in stock.Office: Whether you rent office space or pay for a warehouse, note these costs.Insurance: Calculate both health insurance costs and any business insurance you need.Payroll: This amount should include what you pay your employees and your management team as well as yourself. ![]() Other examples include working with a management analyst or a recruiting expert.
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