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What does it cost to start a business?

What does it cost to start a business? 

The costs you incur depend on many factors – including the type of business, your skills and resources, whether you need premises, equipment, staff, and the work involved in bringing your concept to market.

In the early stages of a start-up boot strapping may be possible on a relatively small budget – particularly if you have the skills to design and develop your product yourself.   Some entrepreneurs claim to have started their businesses for less than $1K.

However, typically you will need to factor in costs for business and company name registrations, intellectual property protection, a website, domain name, hosting, logo design, insurance, computer, phone, marketing, stock and more.

Remember: Good planning beats good luck every time!

Need help with planning, idea evaluation, grants, IP and more?  Get an INNOVIC consultation.

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