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Monthly Costs To Consider When Running A Business

When starting your own business, one key thing to consider is your monthly costs—the lower they are, the less your outgoings will be, which will directly affect your profit.

The more profit you make, the more you can reinvest and grow your company. 

All businesses have different monthly costs, which vary depending on your business type. For example, online companies will have monthly costs other than those of a construction business or a builder's merchant. Some monthly costs are unavoidable, such as your website, finance, and phone costs, whereas others are optional, such as a CDN, certain office supplies, or your music subscription. 

Instead of having a monthly bill with a company, you may pay yearly, saving money. Yearly purchases often offer a discount over a monthly contract; an example is your business insurance. Tivly can help with this if you have after-business insurance

Below, we have compiled a guide on the different monthly costs to consider when running a business. 

Accounts Packages 

As a business, you will require an accounts package to help control your finances. Accounts packages can help with your invoicing, your payroll, your expenses and financial reporting. In order to run a successful business, it’s so important you have a good accounts package

Website Costs 

Your website is another area of your business that will have costs attached to it. You will have multiple monthly bills to consider when running a successful website. You may want a CDN, you’ll need to pay for your website hosting, and you may be paying for a cookie policy and a monthly fee to your web developer. 

Marketing Costs 

Having a good marketing strategy in place is important and will help you be successful. Unfortunately, as part of a good strategy, there will be monthly costs to consider. You may be paying a monthly email marketing software fee, you may need to pay for your design software, and Google Ads and Facebook Ads will also be a cost. 

Operational Costs 

Operational Costs are the costs of running your business from an operations point of view. Your business insurance, CRM system, email, phone lines, Internet, and more will fall under this category. 

Maintenance and repairs

Unfortunately, machinery at work will go wrong at some point—it’s annoying but unavoidable! Therefore, you will want to factor in your monthly maintenance and repair costs. You may have someone onsite who you pay for this, or you may opt for an external company. 

The above is just a touch on the many monthly costs you could pay as a business owner. With a quick look online, you’ll see many additional costs that may crop up depending on your requirements. 

What monthly costs do you pay that we should add to the above list? What is your most expensive monthly cost? Are any of the above expenses something you can operate without? Let us know in the comment box below. 

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