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Business Start Up Cost Calculator

Discussion in 'Money, Accounts & Finance' started by ladyvgw, Jan 21, 2012.

  1. ladyvgw

    ladyvgw

    Joined:
    Aug 14, 2010
    Messages:
    5,175
    Hi all,

    Thought some of the newbies among us might find this useful. Obviously there may be items I have missed but it should give you a good idea as to how much capital you will need when starting out.

    Attached Files:

    MoMo159, beads, Alessia Zwart and 2 others like this.
  2. ladyvgw

    ladyvgw

    Joined:
    Aug 14, 2010
    Messages:
    5,175
    Forgot to say, if anyone thinks of something I missed let me know and I will add it in :)
  3. kahitoo

    kahitoo

    Joined:
    Dec 12, 2010
    Messages:
    1,449
    Well Done lady, Thanks
    ladyvgw likes this.
  4. techNbass2012

    techNbass2012

    Joined:
    Jan 14, 2012
    Messages:
    150
    You forgot to add the price for this premium service haha :p
  5. ladyvgw

    ladyvgw

    Joined:
    Aug 14, 2010
    Messages:
    5,175
    Ha, true. but you could put it under advertising and marketing.
  6. John Dwyer

    John Dwyer

    Joined:
    Jan 20, 2012
    Messages:
    56
    Thankyou for that Lady, I am sure it will come in handy for myself. I do have a question to throw out there though. If you are just working by yourself, what percentage of profits should you give yourself as a wage?
  7. techNbass2012

    techNbass2012

    Joined:
    Jan 14, 2012
    Messages:
    150
    You shouldnt take a wage to begin with. You may want to only just cover the costs of living.
  8. John Dwyer

    John Dwyer

    Joined:
    Jan 20, 2012
    Messages:
    56
    Ok Tech, thanks
  9. techNbass2012

    techNbass2012

    Joined:
    Jan 14, 2012
    Messages:
    150
    To be more detailed, If you take a wage, in the short run you will have disposable income, but in the long run you cant grow as fast. If you use the "wage" to re-invest then you can grow at a faster rate.
  10. ladyvgw

    ladyvgw

    Joined:
    Aug 14, 2010
    Messages:
    5,175
    Quite right. I still take the bare minimum out of my wholesale business and it has been going for 3 years. I still find it is better to reinvest in stock and expand.
  11. John Dwyer

    John Dwyer

    Joined:
    Jan 20, 2012
    Messages:
    56
    Thanks tech for the advice as to start up this will be a second job. I wasn't sure because of the tax at the end of the year whether I would be hammered.
  12. techNbass2012

    techNbass2012

    Joined:
    Jan 14, 2012
    Messages:
    150
    But there does come a time where you feel you cant cope with selling so many products as you may be limited to space or time so at that point, you can consider slowing down and staying at that level until you can work out a way to cope better.
  13. John Dwyer

    John Dwyer

    Joined:
    Jan 20, 2012
    Messages:
    56
    Sorry, thanks as well Lady. You posted while I was replying to Tech. Lol
  14. John Dwyer

    John Dwyer

    Joined:
    Jan 20, 2012
    Messages:
    56
    Okay, thanks. You guys are typing more quickly than I can reply. Lol
  15. techNbass2012

    techNbass2012

    Joined:
    Jan 14, 2012
    Messages:
    150
    2 of us, one of you ;)
  16. kingcarty90

    kingcarty90

    Joined:
    Jan 18, 2012
    Messages:
    19
    Hi, there.
    Erm i'am just wondering how i get the ''tax code'' that people attain by having a business.
    the reason for this is a lot of wholsealers ask your tax code, business name etc.
    The Raw Panda likes this.
  17. TTL

    TTL

    Joined:
    Jan 6, 2009
    Messages:
    1,268
    I would imagine you're talking about a VAT registration number.

    You will only get one of these by registering for VAT. This is a whole new (big) issue.
  18. ladyvgw

    ladyvgw

    Joined:
    Aug 14, 2010
    Messages:
    5,175
  19. FakePrince

    FakePrince Banned Member

    Joined:
    Feb 19, 2011
    Messages:
    10
    Great Vicky !
  20. tiMKin

    tiMKin

    Joined:
    Sep 13, 2011
    Messages:
    1

    Thanks, at least now i know where to start budgeting
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