Can't find what you are looking for? Call our customer support at 1300 856 710 or email us at [email protected]
Explore all the products and services which makes up your ABN membership.
Experience benefits like nowhere else with ABN. Explore all the products and services which make up your membership.
Meet the team at Australian Bookkeepers Network.
Explore the requirements for gaining relevant experience
Protect your Bookkeeping Business with ABN's PI Partners.
Protect your business with Cyber Insurance
How ABN gives back to the community
Find out how a bookkeeper can help your business.
Do you want to become a registered BAS Agent but you're not sure where to start? We've provided an outline of the BAS Agent qualifications and registration requirements.
Wondering how to become a registered bookkeeper? Here's an outline of what to expect when working as one and the steps required to become certified.
ABN is committed to providing professional development opportunities for bookkeepers.
Members Can Access Australian Bookkeepers Network's Bookkeeping Checklists, Contract Samples, Quote Templates, Agreement Letters & More.
ABN Latest News
Start-up costs refer to the total cash amount needed to get your business up and running. This is important because you don’t want to be caught short before your opening day!
How to calculate your costs
List everything that you will need to pay for up front prior to launching your business. These can be separated into the following categories:
Capital costs
Depending on the type and size of business, the capital costs could be either substantial or fairly minimal. Capital costs include things like lease of premises, fixtures, fittings and furniture, equipment and vehicles.
Establishment fees
These expenses are for things like legal fees, registrations and permits, website or logo design fees; things necessary to establish your business.
Initial operating expenses
It may be some time before your business generates a substantial profit. So it’s important to have cash available for operating expenses in the meantime. As a guide, calculate your operating expenses for one month, then set aside enough to cover you for six months.
Personal living expenses
In addition to setting aside enough to cover your initial operating expenses, it is recommended that you set aside enough cash to take care of your normal living expenses for those initial six months.
Estimating the costs
It is better to overestimate than underestimate your start-up costs, but try to be as accurate as possible.
Discuss prices with your suppliers, contact the relevant government departments about any necessary registration fees, and speak to property managers about leasing costs.
You may find it helpful to speak to other business owners as quite possibly they’ve encountered some hidden expenses, especially in the early stages. So if possible, allocate an additional 10% of your budget to ‘miscellaneous’ expenses – just to be on the safe side!
Once you have a good idea of what your start-up costs are likely to be, you’ll be in a good position to decide on the most suitable way to finance your business.
