startup-costs

Vocabulary Word

Definition

'Startup-costs' are the initial expenses to get a business up and running. This could include money spent on things like office space, equipment, or marketing.

Examples in Different Contexts

In business planning, startup costs refer to the expenses incurred before a business begins operating, such as legal fees, office space, and initial inventory. An entrepreneur might say, 'Accurately estimating startup costs is crucial for securing sufficient funding and setting realistic financial projections.'

Practice Scenarios

Marketing

Scenario:

We will need to develop a comprehensive marketing strategy, which includes an estimate of the investment required for market research and advertising campaigns.

Response:

I agree, we should estimate our startup costs, including the budget for comprehensive market research and initial advertising efforts.

Tech

Scenario:

Our company needs to invest substantially in technical setup and equipment. We'll need to calculate how much this will impact our initial budget.

Response:

Indeed, the startup costs for the new server farm and the purchase of necessary software licenses should be factored into our initial budget.