How do I determine my startup costs and other expenses?

[Setho]

You can very determine how much you are going to take to start up your own business from when you are creating your own business plan. You will consider everything .

 

[Setfragil]

Lolz,i think you will still need their services because you may not be able to do all the business activities alone, what of the academic qualification, can i be an experience worker with the qualifications alone ?

Forma start-up business, all you first need is the business experience and knowledge to run and manage it successfully. Most start up business especially small and medium scale businesses can hardly afford the services of a professional.

 

[Richard92]

Lolz,i think you will still need their services because you may not be able to do all the business activities alone, what of the academic qualification, can i be an experience worker with the qualifications alone ?

You can be able to determine your startup cost and other expenses in your business by simply making research about the business from people who have been in the business before.

 

[Mika]

You can not determine the start up cost on your own. the start up that you are trying to launch its own cost and other expenses. Sone start ups can be started for a small amount, and some need big amount.

 

[kayode10]

You need a service of s book keeper to help you determine the cost of running your business. He will helps you to determine the income and expenses for your business.

 

[FreshKaz11]

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.

All I could say in this thread post is that any entrepreneur going into any business of us choice should take his or her time to know how much the business will cost at the end, and if the money for start up is not up to that he or she should start little.

 

[kayode10]

You can hire certified CPA to look into your business proposal and he will come up with the right estimation for your business set up. He will also help you to create a spreadsheet to track cash flow.

 

[BrolySSJ]

You can hire certified CPA to look into your business proposal and he will come up with the right estimation for your business set up. He will also help you to create a spreadsheet to track cash flow.

It is a very good idea to get someone that is actually an expert in that specific field to try and help you out however you have to consider that this will not be a very cheap thing as well and as a result it will impact on the profit of your potential business.

 

[Senator]

You can also determine your startup cost by looking into your budget plan for the business you are planning on going to start and see the rough estimate that can make look forward to saving

 

[delnovem]

Startup costs are the expenses incurred during the process of creating a new business. Pre-opening startup costs include a business plan, research expenses, borrowing costs, and expenses for technology.

 

[Jlife]

Forma start-up business, all you first need is the business experience and knowledge to run and manage it successfully. Most start up business especially small and medium scale businesses can hardly afford the services of a professional.

There is no need for a small business to hire the services of a professional because a small business can easily be run by the owner of the business, and in this case you won't have to worry about a professional.

Post automatically merged: Aug 10, 2021

You can be able to determine your startup cost and other expenses in your business by simply making research about the business from people who have been in the business before.

I do not like involving other people into my business, because involving too much people into your business will lead to giving out a lot of information and at the end of the day you will not even know which advise to take.

 

[Setfragil]

There is no need for a small business to hire the services of a professional because a small business can easily be run by the owner of the business, and in this case you won't have to worry about a professional.

Post automatically merged: Aug 10, 2021

I do not like involving other people into my business, because involving too much people into your business will lead to giving out a lot of information and at the end of the day you will not even know which advise to take.

Researching or getting more information from people who have been in the business for a long time doesn't mean you are directly involving them in your business. Their wealth of experience cannot be underestimated in helping you become a successful business owner.

 

[Jlife]

Researching or getting more information from people who have been in the business for a long time doesn't mean you are directly involving them in your business. Their wealth of experience cannot be underestimated in helping you become a successful business owner.

If I am to do this then I have to do it with only one person that have experience on the type of business I am going into ,because I wouldn't want to involve so many people ,so I won't be mislead with so much information.

 

[Shigobad2020]

I just feel like this is dependent on the kind of products you want to go into and the quantity you want to take for a start and also the quality matters too

In determining the start up cost and the other expenses you need to start a business, you need to first list the start up capital , and the land that you need, with all the materials you need in starting the business.

 

[Ralphjoe]

I just feel like this is dependent on the kind of products you want to go into and the quantity you want to take for a start and also the quality matters too

I definitely agree with you that determine the cost of your product is completely dependent on the kind of product that you want to be producing or selling as the case may be because some product are quiet more expensive than the others.

 

[Setfragil]

If I am to do this then I have to do it with only one person that have experience on the type of business I am going into ,because I wouldn't want to involve so many people ,so I won't be mislead with so much information.

It is good to ho with whatever it is that you think will be good for you. If you think one experienced person is enough for you to start your business with, you can ho for it.

 

[Jlife]

It is good to ho with whatever it is that you think will be good for you. If you think one experienced person is enough for you to start your business with, you can ho for it.

But come to think of it, if you are asking so much people ,they will be giving you a lot of advice and at the end of the day you may not even know which of this advise you will have to follow.

 

[Ralphjoe]

The best way to know your start up cost for a business is to do a proper market survey and with this you will know what the price of what you need in the market is worth. Without this it will be very hard to know how to setup your business

I think one of the major determinants of the cost of starting of any business is determine the product or service that you intend to produce or render to the public and then determine the cost of producing any of these cost.

 

[Snazzy001]

You will have to humble yourself and take a survey, by this I mean that you have to meet those who have done the business before now and ask them how things are going

 

[Setho]

You can always get a close estimate of the amount of money that will be enough to start up your business if you are going to take into consideration everything that you will need and the money that you are going to pay your staff.