3 Start Up Expenses to Consider
When it comes to starting up your very own business, one of the first steps you should take is to consider your start up expenses. You need to make sure that you have enough funds to sustain the beginning few months of your business operations, at the very least before it starts to turn over a profit. To help you make sure you have enough funds, you first need to understand your potential expenses. Below are three start up expenses to consider. Marketing Budget You will need to make sure that you have enough funds to sustain your marketing efforts. Unless you are doing everything in-house, there are bound to be a few expenses that you’ll have to make. For example, commissioning an artist to create original art pieces promoting your services and products, or paying for an advertisement to display on social media platforms. Borrowing Costs If you are going to borrow money to start your business, then you will need to factor in your long-term interest and repayment expenses. Dependi...