Entrepreneurship
Here you can review your start-up costs
Total start-up cost:
£14735.00
Office supplies
Equipment and tools
Stock
Transport
Marketing and website
Premises
Other costs
You apply for a business loan and it is approved to cover 60% of your costs. Over two years, your monthly repayment will be:
£368 at a typical APR of 9%
"Annual Percentage Rate (APR) is a percentage that measures the total cost of borrowing money over a year, including interest and fees.
Business Tool
Costs Simulator
Add your estimated startup costs by clicking the arrows in each section. We've included some examples to help you get started. To remove a cost, click the minus button.
Here you can review your start-up costs
Total start-up cost:
£14735.00
Office supplies
Equipment and tools
Supplies and stock
Transport
Marketing and website
Premises
Other costs
You apply for a business loan and it is approved to cover 60% of your costs. Over two years, your monthly repayment will be:
£368 at a typical APR of 9%
(The figures in this activity are for simulation only and would be subject to variations in real life.)
All rates are for illustration purposes only.
Office supplies
This includes all the office equipment and stationery you need.
Equipment and tools
This includes the more specialised equipment and tools you can lease for your business. For example, a café would need a coffee machine, tables and chairs. A craft shop may need a sewing machine, and a start-up personal trainer may need exercise equipment.
Stock
You will want to have products to sell. Will your stock include ready-made products to sell at a profit, or will you be making your products yourself? Will you need a combination of both?
For example, if you were starting up a gift shop, stock could include wrapping paper and cards. However, if your unique selling point is ‘handmade cards’, you would need supplies of paper, card, glue etc. to create the product.
Remember to negotiate the best deal possible with your suppliers!
Transport
Will you need to deliver products or will you be offering a service where you travel to clients? A window cleaner might need a van to transport ladders and a café might offer a lunch time bike delivery to local offices. What kind of transport will you need?
Marketing and website
How will your potential customers find out about your business? Will you print flyers or pay for an advertisement in the local paper? Most businesses, even very small ones, have a website, with many operating completely online, so you will need to decide whether to factor in the cost of creating a website.
Premises
Where will your business operate? Do you need to rent a shop, office space, a market stall pitch, a workshop to make products, or storage space to keep stock for an online business? Remember that facilities and locations are all important too when choosing your premises!
Other costs
Every business is unique and operates in different ways. What other cost might you incur before you start trading?
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