Establishment budget

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What is an establishment budget?

No matter what type of business you want to start, knowing your finances from the start is crucial. With an establishment budget, you can find your start-up price. You will be able to collect all your expenses you have in connection with the establishment of your business. That way, you will find out how much it actually costs to start your business.

Establishment budget includes

  • Premises - some work from home, but for many companies there is a need for external premises.
  • Production equipment - depending on which company you have, the equipment needed in the company varies.
  • Store furniture - If you have a physical store, you must include furniture for the store, e.g. cash register and payment card.
  • Office furniture - if you have external premises, you must include desks, office chairs, etc.
  • Item purchases - this item varies depending on which company you have. Even if you do not regularly purchase goods or do not have the large expenses here, it is a good idea to include the expenses anyway so that there are no financial surprises.
  • Car - if your company requires you to drive a little or a lot, you must include insurance, tax, fuel, etc.
  • Advisors - depending on which company you have, there are different requirements for accounting, here you include auditors, accountants, lawyers, coaches and the like.
  • Marketing - you can not avoid having to market your business, this is really important. Unfortunately, it can also be an expensive cost, consider how much you can do yourself.
  • Other expenses - there are other expenses than the above, for example patent protection.

One-time cost

Keep in mind that many of your start-up budget costs are one time sums, they only occur once, when you start your business. However, they can occur again if your company moves location, if your company expands, upgrades equipment or the like.

You can find our establishment template here.

You can contact our coaches: Camilla Nyvang, Frederik Sandgrav, Diana Ahmad, Martin W. B. Kristensen if you need help with finances.

Read also about operating budget and liquidity budget.

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