Start-Up Expenses & Your Personal Financial Statement

Startup costs are the expenses incurred during the process of creating a new business. Pre-opening startup costs include a business plan, research expenses, borrowing costs, and expenses for technology. Post-opening startup costs include advertising, promotion, and employee expenses.

Examples of startup costs include: licensing and permits, insurance, phlebotomy supplies, office supplies, payroll, marketing costs, research expenses, and utilities.

Use our Excel sheets to get a clear, organized picture of how much you'll need to get started. You can start slow and buy things over time, however you decide you need to. The personal financial statement is used to list all the assets and liabilities of an individual or couple. An individual's net worth is determined by subtracting their liabilities from their assets; a positive net worth shows more assets than liabilities. Net worth can fluctuate over time as the values of assets and liabilities change. So start tracking your progress!