Peek A Boo: The Hidden Costs Of Running A Business

Peek A Boo: The Hidden Costs Of Running A Business

Who ever said running a business was cheap was a liar! Okay, so maybe no one ever said that exactly, but no one ever tells you how expensive it will be overall. Picture the scene. You have your budget ready and you are game to beat the odds, and then an additional cost rears its ugly head. And, if that wasn’t bad enough, so does another one, and another one. It is like playing a game of whack a mole. Sorry if this is scary because the intention is not to scare but to educate. Running a business is hard enough without the funds to do it properly, so you need to know about every cost before you dive in head first. Hopefully, if you know about the skeletons in the closet, you will have a better chance of success.

Can I See Your License, Please?

It isn’t just police officers that ask for your licence and registration details – your local authority will ask, too. They won’t ask for your driver’s license because that would be absurd, but they will ask for your business licence. They will also ask for all the relevant permits. The thing about owning and running a business is that everything needs to be in order. There is a lot of red tape and you have to cut through it if you want to, legally, make ends meet. Ask your local authority for more information if you aren’t sure.

Why Is The Roof Leaking?

Office buildings look pretty from the outside but they can be demonic on the inside. And if you think demonic is too strong a word just wait until you have to call a roofer because water is dripping on your head. Sure, it isn’t hard to call a firm like Anderson Contractors and solve the problem in half a day. But, the point is that it is costly and annoying. Alas, your premises will never be perfect, which means you will have to repair and replace along the way. As long as you do it quickly and efficiently you shouldn’t have a problem, apart from a wet head, of course.

Are Employees Really This Expensive?

Yes, they are expensive and there isn’t much you can do to change that fact. But it isn’t just the obvious costs that make them expensive. Every owner knows they will have to pay their employees a wage and some even factor in a bonus. What you might not factor in is the cost of training or the cost of health insurance. It is true that you don’t need to pay for these if you don’t want, yet that is a bad move. Training employees to be better will make you more money, while health insurance will attract the best employees. There are things you can do to cut the cost, but labour will still take up a big chunk of your budget.

Running a business is expensive, and it’s vital you understand that beforehand. Of course you can make it cheaper, but you will still spend a fortune and need a big budget.

FG Editorial Team
The Founder's Guide Team - Asian Associates with dynamic elements out to make a change.Thank you for visiting our site! If you do have any questions or inquiry, feel free to contact us through our links and please don't forget to follow our social media accounts. It would be our pleasure to help you in any way we can. Always Remember: "Proceed to Succeed". Hoping to hear from you soon!