What are Common Expense Categories for Entrepreneurs?
Common expense categories that entrepreneurs should consider include:
Rent and Utilities: Costs associated with office or retail space and utilities like electricity, water, and internet. Salaries and Wages: Compensation for employees, including benefits and payroll taxes. Marketing and Advertising: Expenses related to promoting the business, such as online ads, print ads, and promotional events. Office Supplies: Costs for office supplies, furniture, and equipment. Professional Services: Fees for legal, accounting, and consulting services. Inventory and Supplies: Costs for purchasing raw materials, finished goods, and other supplies needed to operate the business. Travel and Entertainment: Expenses for business travel, client meetings, and entertainment. Technology and Software: Costs for software licenses, subscriptions, and technology infrastructure.