startup budget

What Should a Startup Budget Include?

A comprehensive startup budget typically includes the following components:

1. Initial Costs
- Licenses and Permits: Legal fees, permits, and licenses required to operate.
- Research and Development: Costs related to developing a product or service.
- Technology: Software, hardware, and IT infrastructure.
- Marketing and Branding: Initial marketing campaigns, logo design, and brand development.

2. Operating Expenses
- Salaries and Wages: Employee compensation, including benefits.
- Rent and Utilities: Office space, electricity, water, and internet.
- Inventory: Raw materials or products to be sold.
- Insurance: Business insurance policies.

3. Revenue Projections
- Sales Forecast: Estimated sales over a specific period.
- Pricing Strategy: How products or services will be priced to ensure profitability.