How do I determine my startup costs and other expenses?

[Kunkun]

It is important to note that as someone who is just starting a business , you have to properly estimate the cost of starting up the business, so that there aren't any deficits. That is why proper research and feasibility studies is need to be able to carry this out successfully.

Definitely it is important to note that a new business owner looking to start out, all the required costs for success and effective running of the business should have been estimated prior to starting out

 

[Immilash]

it is very important to calculate your start up cost ,it helps you to know what you are spending it also helps you to wether your business is succeeding or failing learn how to calculate your start up cost

 

[Trexxxy]

It is important to note that a new business owner looking to start, all the required costs for success and effective running of the business should have been estimated before starting out

True. I think it is also essential to note that, not only making crude estimate could help start a business, but getting the actual idea of things as regards cost and whatnot.

 

[YERUS]

It is wise to find out what startup costs you will incur before starting the business. Many a budding entrepreneur takes his or her life savings, or will borrow on the equity on their home before figuring these financial factors, only to find that they don’t have enough money. There are many web sites and other resources (including SCORE offices and Business Information Centers) that provide guidelines and worksheets to help determine costs for your business. Each item on your proposed budget sheet should be researched. Closely estimated costs can be obtained from utility companies, trade associations, and networking with other business people who may have already gone through this experience.

You determine your start up cost my deciding on the type of scale you want your business on.
if your scale is not something that your savings can afford, then you will have to source for loans.
before starting any business, it is wise to know how much the start up will be requiring.

 

[Essy]

Sign up cost is definitely different for each type of business and the best way to get an estimate of how much you will need to start a business, get the list of things you need to start and find their prices in the market.

 

[Kubiat-Abasi]

The first step in determining your start-up costs and other expenses is by; planning, first you have to make a business plan but let your budget be higher a bit than your proposed expenses because the market is dynamic.

 

[Tislad]

Well your start up capital is the money used in starting up your business the expenses might be your other expenses like you have rightly put it but you money for your business is your business

 

[Godspower]

Once you've identified a particular line of business to engage in, you must make a rough estimate of the cost of each factor of production (land, capital and labour) according to the market value at the moment. This will help you in the business plan and strategy.

 

[Skysaint]

I think you can determine that by making a marketing research because all businesses aren't the same when it comes to startup capital or the cost of maintenance. So you will need to find out from those who have been in the business line

 

[kinqzbitz]

Well before starting a business I believe one should actually know all about the costs and what he or she will do to get the capital and so cost is actually very important

 

[tyrim88]

Yes of course, it is very important before starting up a business you should properly estimate the cast before thinking about going to starting up any business, is very important to do the estimate this will help you to prepare will.

One difficult aspect of new start ups is the issue proper allocation of resources to areas that needs such,and you cannot do that effectivelly if you do not get help from those who have been in the sector for sometime.

 

[Laurentta]

Before starting a business one should have an idea of how much it is going to cost to start up one. He or she should get a rough estimate of the cost, it won't be a hundred percent accurate but at least it would be close enough.

 

[Alexandoy]

A good business plan would help you determine the cost of your start-up.
Make necessary enquires from already successful business men and women and get good knowledge from them

I agree. The business plan is complete with the details particularly the costing and the projections. A business is not expected to earn a profit in 3 months and some business plan even state that the business may not earn a revenue in 3 to 4 months. That means you need more capital for the operating expenses.

 

[Blessedsam60]

Thanks for the soft and comprehensive enlightenment shared through your post. That's true, we actually have to estimate the cost of a business before embarking on such business. This will assist us to know the total cost and what we are expecting to gain from it.

 

[Godspower]

Thanks for the soft and comprehensive enlightenment shared through your post. That's true, we actually have to estimate the cost of a business before embarking on such business. This will assist us to know the total cost and what we are expecting to gain from it.

You can get an insight on the possible cost by finding out from someone in similar business. Also, doing a market survey on the current price of raw materials will also give you a good insight on what to expect.

 

[Swazykid4all]

Of course, it is essential to have the approximate expenses that you face when you are going to invest in a business. Without this information you should not start investing since it is likely that you will not be able to complete due to lack of capital. If you do not have the necessary knowledge in finance, it is good to hire a specialist.

 

[Shigobad20201]

A good business plan would help you determine the cost of your start-up.
Make necessary enquires from already successful business men and women and get good knowledge from them

You can't really know the actual start up cost you will need in starting your business , but through research and doing a rough estimate , you can know the likely amount to start the business.

 

[greenie]

It is important to note that as someone who is just starting a business , you have to properly estimate the cost of starting up the business, so that there aren't any deficits. That is why proper research and feasibility studies is need to be able to carry this out successfully.

 

[tyrim88]

You can get an idea from people that have been in the same type of business you are going into ,because they are able to advise you and give you the best necessary step for you to take.

That is a very good way to follow,because i could remember when i started my own business,the costing and capital expenditure as well as the working capital advise was gotten from someone who has been in the sector.

 

[Sincerem]

The kind of business you intend to venture into often time would determine the amount or cost you need to start up. But as an individual who is well capable to conveniently run your business with a large startup capital then you can do it.