Starting a new business venture can be a very exciting time but excitement may soon turn to anxiety and worry when you realize the financial commitment that comes with setting up a new business. It’s easy to jump in headfirst without proper planning and fully appreciating the things that you need to invest. The right financial software can help here. For Financial advisor software, visit a site like Intelliflow Financial advisor software

Equipment – almost every start-up will require some form of equipment, for example, a removal company will need a truck. This equipment can be very expensive, especially if there are multiple employees who will need equipment.

Office Space – if your current premises is no longer suitable, then you may be looking for some sort of commercial space and it can get quite steep if you decide to rent or buy. If you offer a service, then perhaps you can travel to a client’s home and offer services there to reduce the cost of having a physical store. Rent will be a fairly large portion of your fixed costs. There will also be utility bills to pay during your business operations.

Website – this is an important element in any business today and it pays to invest in one that looks professional, is easy to use and functional. It should contain all the information that customers are looking for at the click of a button. You will also need a mobile-friendly site as customers want to be able to access the internet wherever they are.

Advertising – it’s no good having a fantastic business if no one knows about you. Ads will include charges for banners, cards, signs and paid advertising options. Take advantage of social media where a lot of ads that can be done at no cost at all. Get your business onto Facebook, Twitter, Instagram, Tumblr, Pinterest and LinkedIn, and to encourage people to love and share, run a contest or competition with multiple prizes.

Office equipment and furniture – if you employ people, then everyone will need a table and chairs, computers and telephones. These costs can rise very quickly. Make a comprehensive list of everything you think you’ll realistically need such as filing cabinets, paper, printers, ink and computer software packages.

Insurance – as you will have home and car insurance, to protect your business, you will need to pay for various different types of business insurance as well. This is definitely one you do not want to ignore because there are different types of insurance. Insurance can protect you in the unlikely event that you are sued by angry customers or insurance will help you cope with disasters such as fires that cover an office, commercial space or vital equipment.