When you’re starting a business, there’s a lot of factors you need to take into account. One of the main things to factor in is the costs, not just of starting the business, but running it too. 

There’s actually a lot of costs you might not think about when setting up the business. Here, we’ll look at some of the main costs you might not have considered as an entrepreneur.

The start-up costs

Even if you don’t need physical premises to set up your business, there’s still a lot of start-up costs you’ll need to pay. These include the cost of setting up a website, marketing, and setting up a customer service policy. 

A lot of entrepreneurs fail to account for all of the start-up costs they’ll be exposed to. The trouble is, if you don’t factor in the entire start-up costs, your business is going to struggle to get off the ground. 

Travelling costs

Thanks to technology, entrepreneurs don’t necessarily need to travel that frequently. However, that doesn’t mean you won’t need to travel at all. Factoring in commute costs and travelling costs to meet prospective clients should be a priority for your business.

You might also find clients need to travel to you. In these instances, it can go a long way offering to pay for their travel. For example, if a client is travelling to Bedford from Luton, where your office is, you’ll want to find the cheapest way of getting them there. You should always have a little money saved for travel expenses should the need arise.

Legal cover

Depending upon the type of business you run, there’s a certain amount of legal cover you’re going to need. If you offer professional services rather than products for example, you’ll want to make sure you’re covered with professional liability insurance. Your premises should be covered, and you’ll also need to ensure your business meets all of the legal requirements. This all adds up so it’s a good idea to compare your options and look for the cheapest cover to fit your needs. 


Finally, a lot of businesses forget to factor in their taxes. In the beginning, you won’t need to pay a large amount of taxes. However, as the company grows, so too will your tax bill. If you run a corporation, the tax structure quickly becomes very complex. So, you’ll want to hire the services of an accountant to help ensure you get it right.

As you can see, there’s a lot of costs an entrepreneur needs to worry about. The above are just a selection of the most common costs you might not have considered. By preparing for these costs, it ensures you won’t run into financial difficulties which could potentially ruin the business.