Establishing Budgets Template
Originally published: 22/11/2017 13:12
Last version published: 09/02/2018 09:22
Publication number: ELQ-80744-4
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Establishing Budgets Template

A budget template that you can simply input your data to help you discern how much money you need to start your business

In order to estimate necessary and suitable costs prior to start-up, you must work out an establishing budget.

How big the establishing costs get depends on what kind of company you want to start.

Small investment
If you want to start a consultancy firm working in human resource development you might only need a telephone, a computer and education/skills in human resources. You probably have the education/skills and if you start the business from home; the only expenses you need to start is a PC and a telephone. The start will then be rather inexpensive.

Large investment
On the other hand if you want to start a production making electronic devices your establishing budget will be high. Before you can start selling your electronic devices you need a production building, machinery, packing facilities, skilled staff, a stock of electric components, office equipment and...this may cost millions.

This Best Practice includes
1 Establishing a Budget Template

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Further information

Calculate how much money you need to start your business
You will be surprised how expensive/cheap it is to start a business
You will get a valid document to show to a banker or an investor

If you have described your business start in a business plan the establishing budget is an importent next tool

If you dont have much idea of what business you will start it will be difficult to mak an establishing budget

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