The Cost of Being the Boss: What Business Owners Spend in Their First Year [Research]
We surveyed over aspirational entrepreneurs in the US and asked them to answer a deceptively simple question: “How much does it cost to start a business?” We then asked established ecommerce small business owners to share their first-year spend, and compared their responses with the predictions made by aspirational entrepreneurs.
We found that aspirational entrepreneurs underestimated how much money they need to start a business—by a lot.
How much do small businesses really spend in their first year? Do high-earning businesses spend their money differently? And if so, how? We answer these questions and more.