How Expensive is it to Start a Small Business
Aug 3 2022 0

How Expensive is it to Start a Small Business?

When thinking about going out on your own and becoming your own boss by starting your own business, it can be quite an exciting time in your life. But, starting a business is not cheap and depending on the business you are setting up, initial costs could be quite high. There are several expenses that will come up right away like rental space, payroll, and many other organizational costs. Also, there will be legal fees that should be incorporated into your business plan and accounted for because just to get your business official and legitimate, there are going to be forms, laws, and guidelines that must be met. 

If you are starting a business or have a business up and running, it is likely your need for legal assistance will not stop just with the initial phases of business formation. Throughout the lifespan of your business, as it starts to take shape and grow, changes in its structure or needs may benefit from the insights and assistance of an experienced attorney. In California, the Leiva Law Firm has the Los Angeles business attorneys you want on your side whenever you need legal guidance and counsel for all of your business needs.

How Expensive is Starting a Business?

How Expensive is it to Start a Small BusinessThe industry you are in and the type of services or products you are working with will dictate the costs necessary just to open your doors. For example, an accounting office may have flexibility in where it can operate and office supplies and other ordinary expenses, but by contrast, a professional carpentry shop will need heavy equipment, materials, and supplies. The carpentry business may also have very specific requirements or limitations as to where the business can be conducted to abide by the laws, local ordinances, and the needs of this specialty type of operation.

The United States Small Business Administration reports that a very small business with more minimal costs can require up to $3,000 on average across the country to get going whereas a franchise would be in the range of $5,000. However, if you would like to build a small store then this cost skyrockets to around $100,000 on average.

Once a business is up and running, there are other things that may be required which could mean legal assistance is necessary. For example, if you did not need employees when you opened your doors you may now have grown enough to need them. Here an employee handbook could save you many headaches and potential future legal challenges. A Los Angeles employee handbook attorney at the Leiva Law Firm can help you with this. Though, should your business face other legal challenges and lawsuits, which is a common thing that business owners encounter over the lifetime of running their company, a Los Angeles business litigation attorney can also be needed.

Speak with a Los Angeles Business Litigation Attorney Today

Starting a business is a lot of work but can be a truly rewarding endeavor. To protect your interests and your financial investments though, having effective legal counsel on your side to provide the safeguards you need to continue to function and thrive throughout every stage of your business’s life is critical. Call the Leiva Law Firm today to schedule a free consultation at (818) 519-4465. 

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