Projecting start-up costs for a new business
The majority of new businesses fail within five years, many because they make too little money and spend too much. In the early years, maintaining tight control of costs and knowing exactly what needs to be spent is essential. Business owners that don’t know how much they will be spending each week risk significant trouble if costs suddenly spiral out of control. Projecting start-up costs in the short and long-term is essential to building a profitable and sustainable business.