4 Crucial Expenses for Your Small Business

Being a small business owner usually means you’re going to be juggling about 120 things all at once. One of those many things is your business’s finances – an extremely stressful and important one. Your budget plays a crucial role in whether or not you’ll be earning a profit, and you’ll want to make sure you’re spending money on the right things.

When you’re just starting out, it can be tough to know the difference between a necessity and a waste of money. Here are 4 non-negotiable expenses you should be working into your budget right away.


Protecting yourself financially should be one of your biggest priorities, and insurance is one of the most important ways you can do this. As a business owner, you’ll need cover for all your business assets, theft, loss of profit, and legal liabilities. You should consult with an insurance broker to figure out what business insurance is best for you.

If you have a business vehicle, you’ll need to look for cheap car insurance too. Insuring your vehicle is a legal requirement in some countries, and even if it’s not part of the law, it’s crucial in those unexpected moments where things go wrong.


Physical security and cyber security are two more very important areas to consider. If you have any physical premises (including a home office), a good security system with 24hr surveillance cameras will be a great investment. If you work from home, you might even consider investing in a smart security system that gives you quick and easy access control via your smartphone.

You’ll also need to be careful to avoid cyber security threats to your business. Purchasing professional antivirus software and other cyber security systems will be essential for the safety of your data.


There are plenty of reasons why marketing is an important area you need to invest in. Especially when you’re just starting out, your main goal is to get your business’s name out there and start bringing in customers.

Marketing is the way to get this done, and it’s going to cost you. However, nowadays there are better and more affordable ways to advertise than costly billboards or TV commercials. Social media marketing is an incredibly affordable and effective way to promote your company.

Consider affiliate marketing, influencer marketing and sponsored posts when you’re just getting started.

Systems and Software

There are certain systems and software you can use to operate more efficiently as a small business. From accounting software to collaboration platforms to help your team work together effectively, technology is there to help make our lives easier and you should be taking advantage of this.

Of course, you should be spending hundreds of dollars a year on software if it’s compromising your profit margin, but you’ll be able to intuitively figure out which programs are right for your company and which would be a waste of money.

In this regard, there are also a load of free programs out there that you could check out.

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