Don’t fall at the first hurdle – 5 start-up costs new business owners should know about


Deciding to peruse your life long dream or finally taking the plunge and turning your passion into your very own business takes bravery, good planning and of course: money.

When it comes to business, the initial start up stages are often the most exciting part of any enterprise. From logos to websites, new stock and your very first customer, they’re all big moments in your professional life.

However, you shouldn’t let your excitement cloud your rationale…believe it or not many fledging business find themselves in financial difficulties early on, simply because they didn’t factor in some of the hidden start up costs all businesses face.

Want to know what they are? Read on for 5 start-up costs new business owners should know about.

Health and safety

Your premises needs to be safe for both your employees and your clients. The last thing you want is to be faced with a lawsuit due to an inadequately highlighted hazard – for the latest in health and safety signage check out– so make sure you undertake regular risk assessments, ensure that you are adhering to the latest fire safety regulations and train your staff in first aid and emergency procedures. And speaking of lawsuits…


Never build a business without it. Insurance is what will protect you and your business should things go wrong. You’ll need insurance to cover your stock, your premises, your employees and even medical insurance, public liability insurance and even commercial vehicle insurance. Having the correct insurance in place can protect you and your assets from lawsuits and protect your employees too. Speak with your lawyer about what kinds of insurance you might need and then compare policies and prices online.

Your utilities

Many fledgling businesses start at home which means things like rent, water, heating and electricity are all covered in your monthly bills. However, when you take the plunge and begin to rent an office space, that’s when the costs start to mount up. Make sure these costs are factored into your monthly outgoings and ask yourself is your business financially ready for its own premises?

IT support

If you’ve previously worked in an office, you’ll have appreciated the luxury of having an IT department you can call if there is an issue. But when you’re in charge or your business, the responsibility of having an IT expert on call is at your door. Luckily you can easily outsource your IT department rather than hiring more people “in-house”.


You might think you can get along without a lawyer or figure out the accounts all by yourself. But the truth is, you’re only piling on more stress and the possibility of making a clerical error – which only means more work! Hiring professional services is another hidden cost that all business start-ups should be aware of. Yes, they are expensive, but they save you time and money in the long term, making them a worthwhile investment. These professionals can essentially help your business to grow.