It is Almost the New Year!

Last time we talked about the various expenses involved with starting a new business. We talked about the taxes and insurance that businesses have to pay to be considered legitimate, but we didn’t talk about other expenses that can be incurred while doing business. Here is a list of the day to day business expenses that all businesses will encounter and potentially need funding for:

• Office supplies: you never realize how much you rely on post its until you sit down in your new office and realize that you forgot to buy them. Make sure you are stocked up with enough office supplies to last you at least a few months. Get reams of paper, boxes of pens, post-its, labels, go nuts at the office supply store. You’ll be glad you have all of that later.
• Office hardware: you will need a phone line, a fax line and an internet connection. You will also need a phone, a fax and a computer with a reliable printer. There are plenty of great deals available now on all of these products and services. A quick search through your phone book should turn you on to your utility providers and you can get your phone and fax machine while you are shopping for your other office supplies.
• Employees! Do you have employees? You are going to have to pay them somehow! You should also start thinking about the dress code of your new business. If you require a uniform, you will have to provide it to your employees.

These are just a few of the expenses that you will incur while you are running your new business. Over the course of the New Year, we will talk about the various ways that you can get funding for your new business. You might want to start thinking about possible funding sources and getting your credit report in order so that you will be ready to apply for funding after the holidays are over.

For now, though, enjoy the holidays! The New Year will get here soon enough and it will be back to business as usual. Today, enjoy your friends and family and take the day off from worrying about your expenses! Everybody needs to take a little bit of time to breathe every once in a while and what better time than the holidays? You can get stressed out again tomorrow.