Contractors Excel Spreadsheet for Accountants and Staff
Startup Expenses Partial View Sample
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| Nearly everyone who has ever started a
business has underestimated the costs, and then faced the danger
of running with inadequate capital reserves. The key to avoiding
this pitfall is to adopt a rigorous approach to your research
Our Startup Expenses worksheet will lead you through the process.
EXPENSES - Begin by estimating expenses. What will it cost you to get your business up and running? The key to accuracy here is attention to detail. For each category of expense, draw up a list of everything you will need to purchase. This will include both tangible assets (for example, equipment, inventory) and services (for example, remodeling, insurance). Then determine where you might purchase these goods or services. Research more than one vendor; i.e.: comparison shop. Do not look at price alone; terms of payment, delivery, reliability, and service are also important.
CONTINGENCIES - Add a reserve for contingencies. Be sure to explain in your narrative how you decided on the amount you are putting into this reserve.
WORKING CAPITAL - You cannot open with an empty
bank account. You need a cash cushion to meet expenses while the
business gets going. Eventually you should do a 12-month cash
flow projection. This is where you will work out your estimate
of working capital needs. For now, either leave this line blank
or put in your best rough guess. After you have done your cash
flow, you can come back and enter the carefully researched
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