MaxFilings is here to help guide you through essential steps of incorporating your small business.
Being the boss of your own small business has probably been a dream of yours for quite some time. Becoming a small business owner is a lofty goal and one that shouldn't be taken lightly. When you are developing your initial business plan, there are a variety of expenses you need to consider. The old adage that you have to spend money in order to make money is usually accurate.
Whether you are an LLC, S corporation or C corporation, a main cause of business failure is underestimating the unexpected costs that arise when beginning your venture.
Below are some examples of these hidden costs that entrepreneurs need to consider.
A general rule of thumb is to prepare a budget 20 percent over your anticipated costs in case of unexpected expenses such as these. It's better to be safe than sorry! As long as you are prepared and know that costs are often greater than predicted, you will be ahead of many small business owners.
Perhaps you are in the very beginning stages of starting a business. If so, MaxFilings can help guide you through incorporating your business in addition to other business services.
For more tips on running your business, browse our blog and knowledge center – packed with such insightful topics as 5 Essential Small Business Investments.