It can be tedious to start up a business. You have many steps to take care of. There are legalities that you have to take care of as well. Your work as the owner does not have day-offs since you have to think of your business all the time. It can be very tiring but you just need enough motivation, hard work, and effort to overcome that.
Aside from that, you also got to worry about the expenses you will accumulate for your start-up. There are certainly a few examples that you got to pay for, even when you are still starting up the business. These expenses will not wait for your business to take off. Here are some of those expenses which you got to pay for.
First, you have the payroll expense. This is the category for the expenses you make when you are paying your employees for their work. This is basically for the employees' salary. In your type of business, it will be impossible to do it on your own. You need to have a few people around. These people need to be paid.
Occupancy expense. When you are starting up this business, you need a commercial place where you can operate your business. You need to rent out this commercial place. The expense you spend for paying the said rental is covered under occupancy expense. The utility bills for water, light, and others are under here too.
There are expenses that you have to spend for the purpose of advertising and promoting the business. All of these expenses are called advertising or promotional expense. Remember that you have to advertise the business so that it becomes visible to the eyes of potential clients. You have to spend a considerable amount for this.
Auto and delivery expense should also be taken as one category. This is the category that will cover the expenses made for the automobile you have for your business. An automobile is necessary for your business. Expenses made related to your automobile such as fuel refill or repair should be placed under this category.
Insurance should be another category to think about. It is a must for a business to be covered with insurance. This is a requirement that must be complied if you are starting a business. With the insurance coverage you availed for the business, you can get yourself protected against unexpected situations. Without it, you might face lots of problems in the future.
Office supplies and postage should be considered as another expense. You cannot operate the business without the appropriate office supplies. You got to buy office supplies every now and then. All the expenses that you make for the purpose of obtaining these office supplies hold be covered in the office supplies and postage expense category.
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