While more than one in five (21%) owners start up with less than $5,000, costs to launch a business can exceed $3 million. LendingTree’s report, based on data from the Census Bureau, shows average startup costs by industry. The industry that costs the most to get started in is management companies, which include financial managers. Startup costs of these companies include office space, either purchased or leased, accounting or bookkeeping software, liability insurance, marketing, business licenses, and various office supplies. The average capital needed to start is $440,740.
New blog post today! Preparing for Economic Changes: Making Strategic Plans
Plus, the Supplements for both tax books are available now – see my blog.