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Starting a Business

Budgeting for First-year Costs

If you're just starting a business, remember that you can't make a go of it without spending some money up front. You'll need to budget dollars for many items, including the following:

  • Hardware/furnishings/other equipment
  • Office space
  • Communications lines and devices
  • Sales taxes on your equipment
  • Physical damage insurance on your equipment and other insurance
  • Maintenance and repairs, including replacing such items as brakes and tires
  • Licenses and permits
  • Administrative items: income and expense ledger, calculator, a personal computer, etc.
  • Envelopes, letterhead, stationery, invoices, and business cards
  • Professional fees for legal, tax, and accounting advice
  • Marketing, including logo design and website
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