Saving to Start a Business | Financial Calculators for Horizon Credit Union

Business Startup Costs

The one-time expenses associated with starting a business, independent of operating it once you've opened your doors.

The anticipated monthly expenses for operating your business once it is up and running.

The number of months you expect to have to pay your expenses out of savings rather than income from continuing operations.

Business Savings Plan

Current savings

The amount you currently have saved towards starting your business.

Monthly savings

The amount you can save, on a monthly basis, towards your starting your business.

Months to save

The number of months you want to take to reach your business savings goal.

Rate of return

The interest rate or rate of return you expect to receive on your savings over the goal period.

Marginal tax rate

To get your marginal tax rate, add together the highest rate you pay for federal income taxes and the highest rate you pay for state income taxes.

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Business Startup Savings Summary
Business Savings Plan	Business Savings Goal

Planned vs Goal Savings
	Planned Savings	Savings Goal
Savings Required for Startup Costs
Savings Required for Monthly Expenses
Total Savings

Itemized Initial Startup Expenses
Expense Category	Amount
Technology (computer, telephony, etc.)
Furniture and fixtures
Office supplies
Legal fees
Licensing and permits
Marketing
Prepaid insurance
Property leasing deposits or purchase
Utility deposits
Other expenses
Total Monthly Expenses

Itemized Monthly Expenses
Expense Category	Amount
Rent or mortgage
Salary & wages
Utilities
Marketing & advertising
Administrative
Operations
Insurance
Equipment rental
Franchise fees & commissions
Total Monthly Expenses

Most new businesses get started out of personal savings. The amount of money you will need to start yours depends on the initial outlay of funds you will need to get started, plus the number of months of ongoing expenses you will want to have saved in advance to pay your business expenses before the revenue from your operations can pay for them. Typical startup costs include such things as office furnishings, equipment needed to operate your business and your initial stock of inventory. Once the business is started, you will have continuous expenses that you will incur, such as employee salaries, rent, utilities, and many other costs particular to your business.