You’ve probably heard the old “you need to spend money to make money” cliché.
But let’s face it: when you’re starting a business, the mere idea of spending money makes your mouth dry and your palms clammy.
How do you know if you’ll be able to get your small business off the ground? How can you justify startup expenses when you aren’t earning any money yet? How are you supposed to know how to manage your business startup costs effectively? Shouldn’t you be pinching every last penny for at least the first year?
We get it. Spending money before you’ve earned any feels counter-intuitive. However, there are certain non-negotiable organisational costs involved in getting your new business off the ground.
Which ones are worth investing in and which ones should you put on the backburner? We’re breaking down both the essential and the unnecessary startup expenses for you here so you can make the most of every single rand you invest in your small business.