Five Business Expenses That May Catch You Off-Guard

3 minutes

You know you need waiting room furniture and computers for the front desk. But what about all of the little things you haven’t planned for? Consider these items when you’re working on your budget.

Creating a financial plan is one of the most daunting parts of building a new business. You try to plan for everything. What will be your sources of income? What will be the expenses? How can you optimize cash-on-hand with financing options to maximize your profits? How will you grow?

When you’re thinking through your goals, many things will be easy to identify and plan for. Rent (or mortgage), utilities, salaries, equipment, training. Sometimes, though, small things can fall through the cracks – and that crack can create a significant difference between your expectations and your actual outcome.

Here are five types of expenses that may sneak up on you:

Subscriptions. Spotify or Pandora (or both!), Canva or another design program, MailChimp or similar, print or digital news subscriptions, or streaming channels for the office can really add up. Whether you pay for these services monthly or on an annual plan, make sure you evaluate regularly to be sure they’re bringing the value you need.