Truth 22. Calculating your initial start-up costs
The first step in determining how much money it will take to start a specific business and whether you’ll need to pursue outside financing is to determine your start-up costs. A business’s start-up costs refer to the total cash needed to get the business up and running. All businesses incur expenses before they make their first sale. A common mistake that business owners make is to underestimate their start-up costs and get caught short on cash before their business even opens.
A common mistake that business owners make is to underestimate their start-up costs and get caught short on cash before their business even opens.
How to calculate your start-up costs
Prepare a budget that ...
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