Funding a new business can be challenging, but there are many options out there. You might be surprised to learn that U.S. Census data shows that 40 percent of small businesses opened their doors with less than $5,000. Of course, the more money you have to start a business, the better off you will be. It will take a bit of research to calculate just how much you will need, but here are some of the numbers you’ll need to crunch:
While this list is a good place to start in terms of estimating startup costs, every business is unique. When you establish a budget for your business, it should be done in the context of a broad business plan.
These articles are for general information purposes only and are not intended to provide legal, tax, accounting or financial advice. Uwharrie Bank cannot guarantee that it is accurate, up to date, or appropriate for your situation and takes no liability for your use of this information. You should consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.