Start-up Costs for a New Business

Developing a Start-up Cost Worksheet is a crucial step to open a new business. A start-up cost worksheet will give you an idea about how much budget you need to open the doors to your business.

How to Calculate Start-Up Costs for a Business

Each business is different, and needs its own specific expenses and allocation of its budget. Here are some useful tips on how to calculate start-up expenses that fit your business.

  • First, prioritize expenses according to your business needs.
  • Decide each expense is essential or optional. You may want to wait on optional needs at the beginning. Be realistic and work on essential expenses first.
  • Separate one-time costs and ongoing costs that repeat every month.
  • Project a budget: To figure out how much budget you need for each expense item, do research on public records of competitors or industry leaders. You will get a good idea how they manage their expenses and how much profit they make. Remember that your business operation is as not efficient as theirs yet and you may need more budget than theirs.

What Are One-time Costs & Operating Costs?

One-time Costs
- Building / Real Estate: security deposit for rent, first month rent, down payment, etc
- Start-up inventory: inventory, advance deposits to suppliers, etc
- Administrative expenses: licenses, permits, insurance, utility deposits, supplies, professional fees, etc
- Marketing & promotional expenses: advertising, business cards, brochure, flyers, website setup, etc

Operating Expenses (ongoing expenses, working capital): rent, utilities, vehicle & travel expenses, office supplies, banking feeds, credit card fees, loan payments, salaries to employees and the owner, etc.

* To open a business, it’s recommended to have a cash reserve for three months working capital.

At-Will Employment - FAQ

What is “at-will” employment?

When an employee is hired at-will, his or her employment can be terminated at any time with or without notice by either party - the employee or the employer - with no liability. The employee may quit their job for any reason at any time. Also, the employer doesn’t have to provide any reasons for terminating an “at-will” employee as long as the termination isn’t discriminatory or illegal.

What are common reasons of terminating an at-will employee?

- Poor company profit
- Poor employee performance
- Workforce reduction
- Merger

It’s a good idea for the employer to ask the employee to sign the Employee Agreement or Contract to ensure that the employee understands that his or her employment is “at-will’. Having this agreement in writing helps avoid lawsuits by the employee. Company policy manuals may be considered to be an enforceable document between the employer and the employee in many states.

Yet, it’s a good business practice that the employer provide the employee good faith communication about whatever issues have led to the termination of the employment.

Employment Application Form

Why Use Employment Application?

Using an Employment Application helps reduce your time and efforts of hiring new employees. You can collect important information about prospective employees and evaluate their experiences and skills. Some key questions from the Employment Application are about personal information, former employers, educational background, job experiences, skills, achievements, references, salary requirements and desired position.

Use this well-constructed Employment Application that is designed to avoid questions that may invade the applicant’s privacy or that may be considered as discriminatory in race, sex, age, religion, marital status, etc.

Have all applicants fill out the same Employment Application when they apply for the same position. Otherwise, it is more difficult to compare the applicants’ skills and qualifications. Also, more importantly, you may get into a legal trouble of being discriminatory against some applicants by having them submit different Application forms.

What Are Employment Taxes? - Small Business

Employment Taxes are one of business owner’s tax-related responsibilities when they hire employees. If you’re a business owner and have employees, you are responsible for withholding employment taxes from your employees every pay period. Employment taxes, aka, payroll taxes, include income taxes, social security taxes, Medicare taxes, and federal unemployment tax. Some states and local governments may require you to withhold state or local employment taxes.

You must collect a W-4 form from each employee that you hire. Based on the information from this form, you can determine the amount of taxes to deduct from employees’ pay checks. These taxes are usually due quarterly or monthly. At the end of every year, you must issue a W-2 form to each employee to show their gross income and their withholdings. Typically, the term “employment taxes” encompasses these series of tax responsibilities of the business owner when they have employees.

Click here for more information about employment taxes.

Wordpress - How To Exclude Some Pages - list_pages

If you want to exclude some pages from displaying, use the function ‘wp_list_pages”. The PHP files to call this function can vary depending on your template, but usually they are invoked either in ‘header.php’ or ’sidebar.php’ (’rsidebar.php or ‘lsidebar.php’).

Just specify what pages to include or exclude as in the following examples:

wp_list_pages(’title_li=Pages&include=2,4,6,8′ );

or

wp_list_pages(’title_li=Pages&exclude=2,4,6,8′ );

How to find the page ID

Log in to your WordPress admin interface and go to Manage -> Pages. Click on the page that you want to include or exclude. In the URL bar of the browser, the last part is the page ID.

http://www.mysite.com/wp-admin/page.php?action=edit&post=111