These arrangements often include office equipment, Internet access, receptionist services, and meeting space that are shared among all the leasing businesses. Temporary office space, like that offered by companies such as Regus, Liquid Space and Share Desk, can be a great option, especially if you’re not sure of what the future will hold. Does your business require more than a home office can provide? Will temporary office space work? The idea of a dedicated office goes hand-in-hand with the birth of a small business, but do you need the space? A home office can work for many start-ups, but zoning and other regulations might require you to have something more official.īefore renting office space or purchasing property, think about how much space you need now and what you’ll need once your business starts to grow. If you can’t afford to join a group, you may be able to attend some of their events at a nominal fee as a guest. Participation in these groups can keep you up-to-date on the latest news and can provide you with great exposure, but be selective about the groups you join because annual memberships can easily run hundreds of dollars.Īs an extra perk for members, many of these organizations provide their members with various kinds of business-related discounts on items such as insurance, loans, credit card fees, supplies, training and more. You should also set aside a little money for membership dues with networking organizations like your local chamber of commerce or industry/professional groups. Factor in how often they need to be renewed and what the renewals will cost. It all starts with paper – the permits and licenses you might need to do business in your community. These overlooked items include: 1) Permits, Licenses and Dues A good budget helps, but there are many hidden costs of running a business that can quickly run you into the red. The first thing every entrepreneur should do is get educated about the costs that go into running a business. That dream can quickly turn into a nightmare if you don’t have the financial resources to keep the business running. Many individuals with a dream and an entrepreneurial spirit set out to start their own business.
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