Examples of common business expenses include space, equipment, insurance, improvements, marketing and employee salaries. Some expenses only have to be paid once, while others are recurring costs.Continue Reading
Home-based businesses might not require much of an investment for space and equipment, but renting an office, warehouse or retail space is usually more costly and frequently requires a deposit. It's recommended that a business owner focus on his present needs as well as his future needs while deciding on the perfect office space.
Business owners can lease office equipment in order to save money, but doing so may require a security deposit. Another option is to buy used office equipment, such as desks, filing cabinets, chairs and scanners. There are some pieces of office equipment that require periodic cleanings, which should also be factored into business expenses.
Locations that aren't yet ready for business could require improvements. The interior of the office space may need to be remodeled or redecorated, or the site might need to be expanded. An owner should also consider the cost of outdoor signs for his business.
There are several different kinds of business insurance policies for owners to choose from. Examples of some of the most common and the most necessary include liability, workers' compensation, property and business vehicle insurance.Learn more about Managing a Business