There’s more to starting a business than just office rental and desks. Especially in the early stages, startup costs require meticulous planning and careful accounting and investments decisions. Neglecting this process and relying on a flood of customers to keep the operation afloat can have significantly negative results for your business.
We work with many start ups and SME’s locally and internationally as we have successfully managed to gain a positive reputation for our quick results and in depth knowledge of business practices. As such, we have decided to create a small infographic categorising the Top 5 Business costs the the majority of our clients seem to encounter.
Conclusively, – providing it doesn’t restrict your business operations – keep your start-up costs to a minimum, or you’ll have pressure to generate more money quicker. It can take time for a new business to begin making regular sales, let alone turn a healthy profit. You need to bear this in mind when estimating how much finance you need to keep your business afloat for that all-important first year.