These costs are incorporated in the business plan, a document which helps the person (or people) starting up the business know how much money needs to be spent during the initial formation of the enterprise in question.
One such group of expenses is IT (short for “information technology”). If you are currently at the planning stages of setting up your new business, then here is a handy guide that walks you through the things you should think about having before you open for business!
Virtually all startup businesses in the United Kingdom these days will need a computer of some description. They enable us to perform a myriad of tasks from the convenience of a desk (or sofa) and are essential items for maintaining productivity within your new firm.
For example, instead of using paper forms to process orders for your business, you can use a computer system to enter the details into some accounts software, and an invoice can then be generated either on paper or through email.
There are many different types of computers available, ranging from desktops and laptops to tablets such as the Apple iPad. As one of your aims during these crucial early stages will be to keep costs low, you can buy secondhand computer systems or use your own personal ones to maximise your cash flow!
In order to send and receive emails and to use the World Wide Web, you will need to have a broadband Internet connection at your home or office. There are a number of options that you can go for, such as ADSL, fibre or 3G/4G mobile data, depending on your usage requirements and how much you want to spend.
If you are going to have an office full of people, you will probably need to go for a fast fibre broadband connection, whereas if it’s only you and maybe one other person in your business, you can get away with a normal ADSL connection. 3G and 4G mobile data connections are good for rural areas where there is no provision for landline-based broadband Internet connectivity.
Should you not want to go to the expense of having fixed lines installed in your home or office for business use, you could use a mobile phone with a geographic or non-geographic phone number that redirects to it, such as those offered from providers like FlexTel. These services are either free or available at a small cost, depending on the sort of number you want to use.
Email and website
It is highly recommended that you have email facilities and a website that your customers can contact you on. They are convenient ways for them to make contact at a time where they are unable to call by phone, or perhaps they’d rather communicate by writing.
Aside from getting your website designed, you will also need to have your email and website hosted somewhere, and in order for people to be able to make contact with you online you should think about some domain names that you want to use for your business.