Key Expenses
When starting a business, certain costs are essential such as:
- Licenses
- Permits
- Inventory
- Rent
- Utilities
- Taxes
- Filing requirements
The location, services offered, and the specific filing needs also significantly affect the overall fees. It’s important to understand that these costs can be influenced by the size and scope of the business. Estimating these expenses accurately is crucial for a successful launch.
Estimated Cost Range
The startup costs for a new business can vary widely, generally ranging from $50,000 to $1,000,000. This variance is largely due to the industry in which the business is being established.
Filing Fees
For example, filing articles of incorporation in Massachusetts typically incurs a cost between $200 and $500. However, additional fees can apply depending on the business’s specific needs and location.