[Infographic] Small Business Startup Costs

Small Business Startup Costs

The key and most essential to any small business startup is the creation of a business plan. A business plan is your road map to success.

Research Expenses

Careful research of the industry and consumer makeup must be conducted before starting up a business. Some business owners choose to hire market research firms to aid them.

Insurance, License and Permit Fees

In most areas, businesses are expected to submit to health inspections and authorizations and obtain certain business licenses and permits.

Equipment and Supplies

Every business type requires some form of equipment and basic supplies. Before adding equipment expense to the list of startup costs, a decision has to be made: to lease, or to buy.

Advertising and Promotion

Advertising and promoting the business is much more than ad placement. It also includes marketing – everything a company does in order to attract clients to the business.

Borrowing Costs

Starting up any kind of business requires an infusion of capital. There are two ways to acquire capital for a business: equity financing and debt financing.

To get started with your small business in Canada consider the help of CanadaStartups.org and our Small Business Startup Portal.