new business venture – Dispatches From The Front

Embarking on a new business venture can be an exciting and rewarding experience, and with the right mindset and strategy, small business owners can thrive in today’s economy. Although there will be challenges along the way, the opportunity to build a successful business is within reach.

According to new research from GoDaddy, the company that helps entrepreneurs thrive, 83% of microbusinesses (defined as those with 10 or fewer employees) started their business due to opportunity versus necessity. They were inspired by the potential of being their own boss while pursuing their passion to create something innovative or unique. Moreover, 73% of microbusinesses have confidence in their prospects for the next six months despite the economic outlook.

Starting a new business venture is exciting. However, with all the work that goes into it and the fact that these businesses often fail within the first year (or two), it’s important to understand all of the startup costs involved before getting started.

Legal Fees

Legal fees can be the most expensive part of starting a business. Your lawyer is who you’ll rely on to help navigate through all the legal issues that can occur during your startup process.

Vehicle Costs

The type of vehicle you need will depend on the specific nature of your business. If you are going to be transporting large amounts of goods or people, a truck or van is necessary. If you’re just doing local deliveries, an SUV or van may suffice. Once you have a vehicle, there’s still more costs to consider before getting on the road: fuel costs and maintenance fees. Newer vehicles usually use less gas than older ones, however, if it does cost more than expected, it could significantly hurt your bottom line.

Tag: new business venture

Elevate Your Brand Today with These Insightful Expert Tips | Small Biz Trends

StartUp Costs You Need to Know About | The Startup Magazine