{"id":1651,"date":"2020-09-08T16:21:24","date_gmt":"2020-09-08T21:21:24","guid":{"rendered":"https:\/\/www.northone.com\/blog\/?p=1651"},"modified":"2023-05-16T15:07:55","modified_gmt":"2023-05-16T20:07:55","slug":"startup-costs-every-small-business-owner-should-expect","status":"publish","type":"post","link":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect","title":{"rendered":"Startup Costs Every Small Business Owner Should Expect"},"content":{"rendered":"\n<p>If you\u2019ve got an idea for a business, and you\u2019re ready to put in the hard work, now is as good a time as any to make it happen. But before you quit your job to become your own boss, it\u2019s important to have a clear idea of how much this venture is going to cost you upfront. In this article we\u2019ll be breaking down some of the startup costs you\u2019ll need to think about to get your business up and running.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_Startup_Costs\"><\/span><strong>What Are Startup Costs?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Startup costs are the funds needed to get your business off the ground. Starting a business is not cheap so you need to be realistic about how much you\u2019ll need to make it happen. We\u2019ve split the startup costs that you need to calculate into two groups, one-time costs, and ongoing costs.&nbsp;<\/p>\n\n\n\n<p>Startup costs that will be covered in the post include:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Equipment&nbsp;<\/li>\n\n\n\n<li>Registration and incorporation fees<\/li>\n\n\n\n<li>Permits and licenses<\/li>\n\n\n\n<li>Branding costs (logo and website design)<\/li>\n\n\n\n<li>Starting assets<\/li>\n\n\n\n<li>Business location&nbsp;<\/li>\n\n\n\n<li>Payroll<\/li>\n\n\n\n<li>Rent and utilities<\/li>\n\n\n\n<li>Loan and credit repayment<\/li>\n\n\n\n<li>Insurance&nbsp;<\/li>\n\n\n\n<li>Marketing<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Small_Business_Startup_Costs_How_Much_Will_You_Need\"><\/span><strong>Small Business Startup Costs: How Much Will You Need?&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Calculate your overall startup costs before you start investing in the business. You don\u2019t want to get halfway through starting your business only to run out of funds. Figuring out how much money you need at the beginning will give you insight into whether you\u2019ll need to raise funds with investors, take out loans and grants, or get a line of credit.&nbsp;<\/p>\n\n\n\n<p>When you\u2019ve calculated your startup costs, <a href=\"https:\/\/www.northone.com\/customers\">open a business bank account<\/a> to keep your small business\u2019s funds separate from your personal finances.\u00a0<\/p>\n\n\n\n<p><br\/>\n\n\n<span class='mb-center maxbutton-3-center'><span class='maxbutton-3-container mb-container'><a class=\"maxbutton-3 maxbutton maxbutton-apply-for-an-account\" target=\"_blank\" title=\"Apply for a North One Account in less than 3 minutes.\" rel=\"nofollow noopener\" href=\"https:\/\/join.northone.com\/\"><span class='mb-text'>Apply for an Account<\/span><\/a><\/span><\/span>\n\n\n<p><br\/>\n\n\n\n<p>One of the best ways to calculate your estimated startup costs is by fleshing out a detailed <a href=\"https:\/\/www.northone.com\/blog\/start-a-business\/how-to-write-a-business-plan\">business plan<\/a>. The financial projection part of the plan will help give you a guideline for the expenses you\u2019ll be needing for the next 3 to 5 years.&nbsp;<\/p>\n\n\n\n<p>There are external resources you can use to calculate your startup costs. Check out the <a href=\"https:\/\/www.sba.gov\/sites\/default\/files\/2017-07\/Startup%20Costs%20Worksheet.pdf\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Small Business Association (SBA) start-up costs worksheet<\/a>. When you are calculating your startup costs estimate needing enough to cover the first 6 months of any expense. For example, calculate a full six months rent rather than just the first month. If you start making a profit from your business before six months, congratulations! But it\u2019s better to be safe than sorry.&nbsp;<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Finding_Funding_for_Your_Business_Costs\"><\/span><strong>Finding Funding for Your Business Costs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The startup costs for your business don\u2019t necessarily have to come from your own back pocket. Lots of new business owners choose to <a href=\"https:\/\/www.northone.com\/blog\/start-a-business\/how-to-find-investors\">find investors to give them financial support<\/a>. These investors might be people from your inner circle who believe in your vision and want to help you bring it to life. You can also access small business loans through organizations such as the SBA. Platforms like Kickstarter make it easy for business owners to raise funds through crowdfunding.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Startup_Costs_to_Expect_One-Time_Expenses\"><\/span><strong>Startup Costs to Expect: One-Time Expenses<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">When you start a business there will be a number of initial investments that are necessary to kick things off. Here are some of the more common startup one time expenses.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Equipment_Startup_Costs\"><\/span><strong>Equipment&nbsp;<\/strong>Startup Costs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u2018Equipment\u2019 is a very broad term when we\u2019re talking about a business. If you\u2019re starting a restaurant, \u2018equipment\u2019 could mean an entire industrial kitchen. If you\u2019re starting a web design business, it might just mean upgrading your computer. The cost of startup equipment will depend on what industry your small business is in. Typically the cost of equipment when starting your business could be anywhere between $10,000 to $125,000.&nbsp;Kabbage has put together an article outlining the <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.kabbage.com\/resource-center\/finance\/how-much-start-up-equipment-costs-by-industry\/\" target=\"_blank\">average cost of start-up equipment based on industry<\/a>. Here are some of their findings:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$125,000 is the average cost for restaurants and hotels.<\/li>\n\n\n\n<li>$75,000 is the average cost for real estate and property rentals.<\/li>\n\n\n\n<li>$16,000 is the average cost for arts and entertainment.<\/li>\n<\/ul>\n\n\n\n<p>Note that this is just an average and doesn\u2019t necessarily reflect your business. It\u2019s important you put in the time to properly calculate how much your equipment will cost.&nbsp;<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Registration_and_Incorporation_Fees\"><\/span><strong>Registration and Incorporation Fees<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Just like with equipment costs, registration fees are different from business to business. There are five main types of businesses in the US, these are; <a href=\"https:\/\/www.northone.com\/blog\/start-a-business\/s-corp-vs-llc\">LLC, S Corp,<\/a> <a href=\"https:\/\/www.northone.com\/blog\/start-a-business\/s-corp-vs-c-corp\">C Corp<\/a>, Corporation, and Sole Proprietorship. What legal structure you choose for your business will affect the cost of registration. These fees also vary depending on what state your business operates in.&nbsp;<\/p>\n\n\n\n<p>Sole proprietorship is the least expensive type of business structure. It will only cost on average $25 to file with the Secretary of State.&nbsp;<\/p>\n\n\n\n<p>Registering as an LLC, on the other hand, can cost as low as $50 (in Colorado) or as high as $630 (in Illinois). An Incorporated company cost also varies depending on the state but is similar to the range you\u2019ll see with an LLC.<\/p>\n\n\n\n<p>To form an S Corp, you\u2019ll have to file form 2553 with the IRS after you\u2019ve registered your business and paid the associated filing fee.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Permits_and_Licenses_Startup_Costs\"><\/span><strong>Permits and Licenses<\/strong> Startup Costs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">The last thing you need when launching a new business is a fine for not registering the right permits and licenses to operate. It\u2019s up to you to do your due diligence and make sure you are operating legally. Here are some business startup licenses and permits you might need:&nbsp;<\/p>\n\n\n\n<p><strong>Professional licenses:<\/strong><\/p>\n\n\n\n<p>A professional license shows you are qualified to do a certain job. There are a number of industries that require you to have a professional license to practice. This does vary from state to state however if you are practising any of the following professions, chances are you need a professional license:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Medicine<\/li>\n\n\n\n<li>Nursing<\/li>\n\n\n\n<li>Law<\/li>\n\n\n\n<li>Dentistry<\/li>\n\n\n\n<li>Accounting<\/li>\n\n\n\n<li>Veterinary medicine<\/li>\n\n\n\n<li>Pharmaceutical&nbsp;<\/li>\n\n\n\n<li>Psychology&nbsp;<\/li>\n\n\n\n<li>Engineering and architecture<\/li>\n<\/ul>\n\n\n\n<p>The cost of these professional licenses depends on the field. Most of these will need to be renewed each year.&nbsp;<br><\/p>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\"><strong>Business startup permits:<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.northone.com\/blog\/small-business\/dba-meaning-and-why-it-matters-to-your-small-business\">DBA permit<\/a><\/li>\n<\/ul>\n\n\n\n<p>DBA stands for \u2018doing business as\u2019. If your business\u2019 comercial name is different to it\u2019s legal name, you\u2019ll want to get a DBA permit. The average cost is $10-110 depending on where you are operating.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Health permit<\/li>\n<\/ul>\n\n\n\n<p>If you are running any kind of food or beverage business, you\u2019ll likely need a health permit. This is for the safety of your customers. The average cost of a health permit is $25<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Building permit<\/li>\n<\/ul>\n\n\n\n<p>If you need to renovate a space for your business, you\u2019ll need a building permit. The average cost of a building permit is $1,156.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Fire inspection permit<\/li>\n<\/ul>\n\n\n\n<p>For obvious reasons, if you\u2019re operating out of a commercial space, you\u2019ll need a fire inspection permit which usually costs around $100.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ATF permit (alcohol, tobacco, or firearms)<\/li>\n<\/ul>\n\n\n\n<p>You\u2019ll only need these permits if it relates directly to your operations.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Sales tax permit\/Seller\u2019s permit&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>You need a sales tax permit for any state that you have a \u2018nexus\u2019. A nexus used to mean a physical presence but nowadays it can also include significant economic presence. If you reach a certain level of sales in a state you may have to pay sales tax and will have to get a permit. <\/p>\n\n\n\n<p>People can also trigger a sales tax nexus, so if you have employees in another state, you may also have to get a sales tax permit for that state. Sales tax permits have different names depending on the state, they are sometimes called \u2018sellers permits\u2019 or just business permits. They range in cost but usually won\u2019t cost more than $100 and are more often than not free.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Branding_Costs_Logo_and_Website_Design\"><\/span><strong>Branding Costs: Logo and Website Design<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When you\u2019re first starting out, you don\u2019t need a top of the line, custom-designed website. You just need something that is very user friendly and professional looking. The most important thing is that it\u2019s easy for your potential customers to use. 88% of consumers will not return to a website after a bad experience and 33% will stop engaging with a site if they think it\u2019s unattractive. You can use Wix or Squarespace to easily make an attractive, user-friendly website that won\u2019t chew up your startup budget. The average cost of a basic website template is about $50. Rather than blowing money on a custom website, we recommend you put funds towards<a href=\"https:\/\/www.northone.com\/blog\/start-a-business\/what-is-brand-identity\"> developing a notable and thoughtful logo for your business.<\/a> <br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Starting_Assets_Startup_Costs\"><\/span><strong>Starting Assets<\/strong> Startup Costs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Starting assets are items you buy for your business that have long term value. You\u2019ll pay a large sum upfront for these assets but they will last you a long time and add value to your business.&nbsp;<\/p>\n\n\n\n<p><strong>Some examples of starting assets include:&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Computer and tech equipment<\/li>\n\n\n\n<li>Office building and land (if purchased and you have obtained ownership)<\/li>\n\n\n\n<li>Office furniture and equipment<\/li>\n\n\n\n<li>Company vehicles<\/li>\n<\/ul>\n\n\n\n<p>Many of these items will probably match up with other costs in your \u2018one time expenses\u2019 list. But, it\u2019s important to identify assets from other expenses for tax reasons. Assets, unlike other expenses, are not tax-deductible. <a href=\"https:\/\/www.northone.com\/blog\/taxes\/filing-business-taxes\">This is really important for sorting out your business taxes.<\/a>&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_Location_Startup_Costs\"><\/span><strong>Business Location&nbsp;<\/strong>Startup Costs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Depending on what sort of business you want to build, you may have to consider the expense of a business location. Most businesses will start by renting out space. Here are some one-time costs associated with renting a space for your business:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Application fee&nbsp;<\/li>\n\n\n\n<li>Security deposit&nbsp;<\/li>\n\n\n\n<li>Rent up front (depending on the lease agreement this could be anything from 2 weeks to 1 month)<\/li>\n\n\n\n<li>Moving costs&nbsp;<\/li>\n\n\n\n<li>Realtor fees<\/li>\n\n\n\n<li>Any updates needed (Renovations, office furniture, etc)&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>If you have the funds available you might choose to buy a location for your business. If you do decide to buy a location outright you\u2019ll need to categorize this as an asset.&nbsp;<\/p>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Here are some one-time startup costs associated with buying a business location:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Down-payment<\/li>\n\n\n\n<li>Inspection fee<\/li>\n\n\n\n<li>Appraisal fee<\/li>\n\n\n\n<li>Closing costs<\/li>\n\n\n\n<li>Moving costs<\/li>\n\n\n\n<li>Realtor fees<\/li>\n<\/ul>\n\n\n\n<p>If your new business space needs renovations, you\u2019ll also need a proper permit to do this. Obviously, if you are renting you\u2019ll also need the permission of your landlord before you start doing renovations.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Startup_Costs_to_Expect_Ongoing_Expenses\"><\/span><strong>Startup Costs to Expect: Ongoing Expenses<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Some business expenses are ongoing. This means you\u2019ll have to continue to pay for them for the life of your business. Remember when calculating your startup costs, include at least 6 months of ongoing costs.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Payroll_Startup_Costs\"><\/span><strong>Payroll<\/strong> Startup Costs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>One of the most important startup costs is your payroll costs. You\u2019ll have to start paying payroll costs right from the beginning, even when you\u2019re not yet making a profit. This includes paying yourself. Payroll costs are not just salaries. They also include things like, benefits, overtime, and commission. Your payroll budget should also cover the cost of any second party payroll service you are using. If you\u2019re a sole proprietor, you can probably get away with a pretty small payroll budget when you\u2019re getting your business off the ground, however, for other business structures, we recommend putting away 25-50% of your total startup budget.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rent_and_Utilities_Startup_Costs\"><\/span><strong>Rent and Utilities<\/strong> Startup Costs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Along with rent payments, you\u2019ll also have to calculate the cost of things like gas, water, internet and phone bills. These costs will vary from business to business. If you are operating out of a commercial business, a good ball park figure to consider is about $2 per square foot of the total office space that you\u2019ve purchased or rented.&nbsp;<\/p>\n\n\n\n<p>The cost of a rental space is difficult to estimate due the many variables of small business. To save money on rental costs in the beginning, you may want to start by working out of your home, or look into coworking spaces.&nbsp;<\/p>\n\n\n\n<p>If you want to start a restaurant or retail business, the cost of renting a space will all depend on your choice of location. If you find a space in a busy location with plenty of foot traffic in a large metropolitan area, you\u2019ll be looking at a vastly different cost to that of something off the beaten track in a less populated city, town or suburb.&nbsp;<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Loan_and_Credit_Repayment_Startup_Costs\"><\/span><strong>Loan and Credit Repayment<\/strong> Startup Costs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It\u2019s fairly common to take out a small business loan or a line of credit when starting a small business. If this is the case for you, you\u2019ll have to calculate how much of this outstanding debt you\u2019ll realistically pay back over the course of your first 6 months in operation.&nbsp;<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Insurance_Startup_Costs\"><\/span><strong>Insurance&nbsp;<\/strong>Startup Costs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Business insurance comes in many different forms. It\u2019s a good idea to research all your options before landing on the insurance that will serve you and your business best. You\u2019ll want to consider things like, industry standards, the size of your business, the number of employees you have and any other risks.&nbsp;<\/p>\n\n\n\n<p>It\u2019s hard to calculate the average cost of business insurance due to so many variables but here are some ballpark numbers. A sole proprietor can expect to pay on average around $500. A small consulting firm is likely to pay on average upwards of $3000. These are not hard and fast rules. If you\u2019re a sole proprietor, working from home and selling marketing services, the cost of your insurance will be much less&nbsp;than that of a sole proprietor working on a construction site simply because there is more risk involved.&nbsp;<\/p>\n\n\n\n<p>Here is a breakdown of some of the insurance options you might be looking into for your business:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>General liability insurance (about $400-$800 per year)<\/li>\n\n\n\n<li>Commercial property insurance ($300-$2,500 per year)<\/li>\n\n\n\n<li>Worker\u2019s compensation ($0.75-$2.74 per $100 spent on payroll)<\/li>\n\n\n\n<li>Errors and omissions insurance ($2,000-$5,000 per year)]<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Marketing_Startup_Costs\"><\/span><strong>Marketing<\/strong> Startup Costs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>We recommend that if your small business is well under $5 million in revenue, only 7-8% of your revenue should be dedicated to marketing. This money can go towards costs such as updates to your website, social media, content marketing, and newsletter and email campaigns. Your marketing budget should be less than 10% of your original total calculated budget. This may not seem like much but in today&#8217;s world, there are actually plenty of <a href=\"https:\/\/www.northone.com\/blog\/small-business\/5-ways-to-market-your-business-on-a-shoestring-budget\">creative ways to market your business of a shoestring budget.&nbsp;<\/a><\/p>\n\n\n\n<p>There is always risk involved in starting a business. Being realistic about your startup costs is one of the best ways to lower this risk. Don\u2019t let startup costs deter you from making your dreams of starting a business a reality. Even the most successful business people in the world had to start somewhere. If it takes you a little longer to raise your startup money, that\u2019s ok! Be patient and keep working hard. The only way you can fail is by giving up before you start.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019ve got an idea for a business, and you\u2019re ready to put in the hard work, now is as good a time as any to make it happen. But&#8230;<\/p>\n","protected":false},"author":10,"featured_media":1654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[154],"tags":[176,231,78,119,117,148,213,189,178],"class_list":["post-1651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-start-a-business","tag-business-banking","tag-costs","tag-finance","tag-financial-health","tag-financial-management","tag-northone-app","tag-northone","tag-start-a-business","tag-startups"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Startup Costs Every Small Business Owner Should Expect | North One<\/title>\n<meta name=\"description\" content=\"Startup costs are the funds needed to get your business off the ground. You should focus on two types of costs, one-time costs, and ongoing costs!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Startup Costs Every Small Business Owner Should Expect | North One\" \/>\n<meta property=\"og:description\" content=\"Startup costs are the funds needed to get your business off the ground. You should focus on two types of costs, one-time costs, and ongoing costs!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect\" \/>\n<meta property=\"og:site_name\" content=\"North One Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/northonebanking\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-08T21:21:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-16T20:07:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2020\/09\/Blog_BusinessStartUpCosts_NavyBlue_Static_v1-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1726\" \/>\n\t<meta property=\"og:image:height\" content=\"1117\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Arabella Anderson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NorthOneApp\" \/>\n<meta name=\"twitter:site\" content=\"@NorthOneApp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Arabella Anderson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect\"},\"author\":{\"name\":\"Arabella Anderson\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#\\\/schema\\\/person\\\/ac91fecdb453e1fa0e9ff8fe64a96327\"},\"headline\":\"Startup Costs Every Small Business Owner Should Expect\",\"datePublished\":\"2020-09-08T21:21:24+00:00\",\"dateModified\":\"2023-05-16T20:07:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect\"},\"wordCount\":2486,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/Blog_BusinessStartUpCosts_NavyBlue_Static_v1-1.png\",\"keywords\":[\"business banking\",\"costs\",\"finance\",\"financial health\",\"financial management\",\"North One App\",\"northone\",\"start a business\",\"startups\"],\"articleSection\":[\"Start a Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect\",\"name\":\"Startup Costs Every Small Business Owner Should Expect | North One\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/Blog_BusinessStartUpCosts_NavyBlue_Static_v1-1.png\",\"datePublished\":\"2020-09-08T21:21:24+00:00\",\"dateModified\":\"2023-05-16T20:07:55+00:00\",\"description\":\"Startup costs are the funds needed to get your business off the ground. You should focus on two types of costs, one-time costs, and ongoing costs!\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect#primaryimage\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/Blog_BusinessStartUpCosts_NavyBlue_Static_v1-1.png\",\"contentUrl\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/Blog_BusinessStartUpCosts_NavyBlue_Static_v1-1.png\",\"width\":1726,\"height\":1117,\"caption\":\"Business Start Up Costs\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/start-a-business\\\/startup-costs-every-small-business-owner-should-expect#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.northone.com\\\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Startup Costs Every Small Business Owner Should Expect\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/\",\"name\":\"North One Blog\",\"description\":\"North One Business Banking\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#organization\",\"name\":\"North One\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/07\\\/NorthOne-Icon.png\",\"contentUrl\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/07\\\/NorthOne-Icon.png\",\"width\":1000,\"height\":1000,\"caption\":\"North One\"},\"image\":{\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/northonebanking\\\/\",\"https:\\\/\\\/x.com\\\/NorthOneApp\",\"https:\\\/\\\/ca.linkedin.com\\\/company\\\/northone\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/#\\\/schema\\\/person\\\/ac91fecdb453e1fa0e9ff8fe64a96327\",\"name\":\"Arabella Anderson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/4869662bdab9a24d0ac74465f1d48675ecb971c0ce6aeeb8f729d5d4bf32a450?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/4869662bdab9a24d0ac74465f1d48675ecb971c0ce6aeeb8f729d5d4bf32a450?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/4869662bdab9a24d0ac74465f1d48675ecb971c0ce6aeeb8f729d5d4bf32a450?s=96&d=mm&r=g\",\"caption\":\"Arabella Anderson\"},\"description\":\"Arabella Anderson is a former Senior Copywriter at North One. She specializes in small business banking and business creation. Prior to North One, Arabella worked as a copywriter at Bear Marketing and Concrete Playground. She earned a degree in Journalism and Communication from Western University.\",\"url\":\"https:\\\/\\\/www.northone.com\\\/blog\\\/author\\\/arabella_anderson\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Startup Costs Every Small Business Owner Should Expect | North One","description":"Startup costs are the funds needed to get your business off the ground. You should focus on two types of costs, one-time costs, and ongoing costs!","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect","og_locale":"en_US","og_type":"article","og_title":"Startup Costs Every Small Business Owner Should Expect | North One","og_description":"Startup costs are the funds needed to get your business off the ground. You should focus on two types of costs, one-time costs, and ongoing costs!","og_url":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect","og_site_name":"North One Blog","article_publisher":"https:\/\/www.facebook.com\/northonebanking\/","article_published_time":"2020-09-08T21:21:24+00:00","article_modified_time":"2023-05-16T20:07:55+00:00","og_image":[{"width":1726,"height":1117,"url":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2020\/09\/Blog_BusinessStartUpCosts_NavyBlue_Static_v1-1.png","type":"image\/png"}],"author":"Arabella Anderson","twitter_card":"summary_large_image","twitter_creator":"@NorthOneApp","twitter_site":"@NorthOneApp","twitter_misc":{"Written by":"Arabella Anderson","Est. reading time":"11 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect#article","isPartOf":{"@id":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect"},"author":{"name":"Arabella Anderson","@id":"https:\/\/www.northone.com\/blog\/#\/schema\/person\/ac91fecdb453e1fa0e9ff8fe64a96327"},"headline":"Startup Costs Every Small Business Owner Should Expect","datePublished":"2020-09-08T21:21:24+00:00","dateModified":"2023-05-16T20:07:55+00:00","mainEntityOfPage":{"@id":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect"},"wordCount":2486,"commentCount":0,"publisher":{"@id":"https:\/\/www.northone.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect#primaryimage"},"thumbnailUrl":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2020\/09\/Blog_BusinessStartUpCosts_NavyBlue_Static_v1-1.png","keywords":["business banking","costs","finance","financial health","financial management","North One App","northone","start a business","startups"],"articleSection":["Start a Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect","url":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect","name":"Startup Costs Every Small Business Owner Should Expect | North One","isPartOf":{"@id":"https:\/\/www.northone.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect#primaryimage"},"image":{"@id":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect#primaryimage"},"thumbnailUrl":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2020\/09\/Blog_BusinessStartUpCosts_NavyBlue_Static_v1-1.png","datePublished":"2020-09-08T21:21:24+00:00","dateModified":"2023-05-16T20:07:55+00:00","description":"Startup costs are the funds needed to get your business off the ground. You should focus on two types of costs, one-time costs, and ongoing costs!","breadcrumb":{"@id":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect#primaryimage","url":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2020\/09\/Blog_BusinessStartUpCosts_NavyBlue_Static_v1-1.png","contentUrl":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2020\/09\/Blog_BusinessStartUpCosts_NavyBlue_Static_v1-1.png","width":1726,"height":1117,"caption":"Business Start Up Costs"},{"@type":"BreadcrumbList","@id":"https:\/\/www.northone.com\/blog\/start-a-business\/startup-costs-every-small-business-owner-should-expect#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.northone.com\/blog"},{"@type":"ListItem","position":2,"name":"Startup Costs Every Small Business Owner Should Expect"}]},{"@type":"WebSite","@id":"https:\/\/www.northone.com\/blog\/#website","url":"https:\/\/www.northone.com\/blog\/","name":"North One Blog","description":"North One Business Banking","publisher":{"@id":"https:\/\/www.northone.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.northone.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.northone.com\/blog\/#organization","name":"North One","url":"https:\/\/www.northone.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.northone.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2019\/07\/NorthOne-Icon.png","contentUrl":"https:\/\/www.northone.com\/blog\/wp-content\/uploads\/2019\/07\/NorthOne-Icon.png","width":1000,"height":1000,"caption":"North One"},"image":{"@id":"https:\/\/www.northone.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/northonebanking\/","https:\/\/x.com\/NorthOneApp","https:\/\/ca.linkedin.com\/company\/northone"]},{"@type":"Person","@id":"https:\/\/www.northone.com\/blog\/#\/schema\/person\/ac91fecdb453e1fa0e9ff8fe64a96327","name":"Arabella Anderson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/4869662bdab9a24d0ac74465f1d48675ecb971c0ce6aeeb8f729d5d4bf32a450?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/4869662bdab9a24d0ac74465f1d48675ecb971c0ce6aeeb8f729d5d4bf32a450?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/4869662bdab9a24d0ac74465f1d48675ecb971c0ce6aeeb8f729d5d4bf32a450?s=96&d=mm&r=g","caption":"Arabella Anderson"},"description":"Arabella Anderson is a former Senior Copywriter at North One. She specializes in small business banking and business creation. Prior to North One, Arabella worked as a copywriter at Bear Marketing and Concrete Playground. She earned a degree in Journalism and Communication from Western University.","url":"https:\/\/www.northone.com\/blog\/author\/arabella_anderson"}]}},"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/posts\/1651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/comments?post=1651"}],"version-history":[{"count":0,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/posts\/1651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/media\/1654"}],"wp:attachment":[{"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/media?parent=1651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/categories?post=1651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.northone.com\/blog\/wp-json\/wp\/v2\/tags?post=1651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}