THE ACTUAL COSTS OF STARTING A SMALL BUSINESS!
Emerging business insurance! (Ref: www.santam.co.za)
Beginning a business is amongst the most exciting things you’ll do in your lifetime. Numerous business visionaries refer to income consistency as one of their greatest difficulties. Keep an eye out for the below as you plan your new pursuit…..
Staff Expenses
As your business develops, you’ll have to procure staff. Keep in mind that regardless of what you pay an employee every month, this isn’t the actual cost to your company! Entrepreneurs ought to anticipate that a worker will cost 25-30% over a base pay every year. For example, salary increases, UIF, Upskilling, Paid time off etc.
Specialist costs
Doing EVERYTHING yourself takes up too much time! Outsourcing is costly, so make sure you budget accordingly!
Maintenance
Put away money for unforeseen maintenance or regularly maintain equipment!
VUM AssetSure offers business interruption cover
Tax
Don’t get caught with a large bill! Get advice and help from a professional!
Technology
Account for all your online costs… They add up.
