ENTREPRENEURSHIP

Detailed explanation-1: -Startup costs are the expenses incurred during the process of creating a new business. Pre-opening startup costs include a business plan, research expenses, borrowing costs, and expenses for technology. Post-opening startup costs include advertising, promotion, and employee expenses.

Detailed explanation-2: -A startup cost is any expense incurred when starting a new business. Startup costs will include equipment, incorporation fees, insurance, taxes, and payroll. Although startup costs will vary by your business type and industry-an expense for one company may not apply to another.

Detailed explanation-3: -Examples of startup costs include licensing and permits, insurance, office supplies, payroll, marketing costs, research expenses, and utilities.

Detailed explanation-4: -Understanding your expenses and how you will manage them helps you launch your business successfully and continue to make a profit once your doors are open. By calculating your startup costs, you can: Estimate future profits. Perform a break-even analysis.