Initial financial requirements vary depending on the business model, industry, and scale of operations. Common initial expenses include:
Product Development: Costs associated with developing your product or service. Market Research: Expenses for understanding your target market and customer needs. Legal Fees: Costs for registering the business, trademarking, and other legal formalities. Operational Costs: Rent, utilities, and salaries for the initial team. Marketing and Sales: Initial marketing campaigns and sales efforts to attract customers.