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 investor presentations, clearly outlining startup costs and how they will be managed is key to gaining investor confidence. An entrepreneur might state, 'Our detailed breakdown of startup costs demonstrates our understanding of the financial challenges and our strategy for managing them.'

Practice Scenarios

Business

Scenario:

To guarantee the success of our venture, we must list and estimate the expense of every necessary start-up element.

Response:

Absolutely, we should take into account all the startup costs, including office rents, utility bills, and initial employee payrolls.

Design

Scenario:

To set up our design studio, we will have to consider multiple expenses like software, design tools, and office space.

Response:

Yes, the cost of acquiring new design software and setting up our workspace are substantial startup costs we need to consider.