How to Determine How Much Funding You Need

What will it cost to start your business? It’s hard to know for sure. According to a recent survey of nearly 500 small businesses and startups, owners spent $40,000 on average in their first year of business. Regardless of how much you plan to spend, it’s important that you start planning early on to avoid any unforeseen expenses.

Typical startup costs can vary depending on whether you’re operating a brick-and-mortar store, online store, or service operation. But a common theme is that launching a successful business requires preparation. And while you may not know exactly what those expenses will be, you can and should begin researching and estimating what it will cost to start your business.

0:00 - Intro
0:20 - What are startup costs?
1:16 - List out your startup costs
1:38 - List out your startup assets
2:44 - Consider your cash needs
3:29 - Create a financial forecast
4:50 - Outro

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