Idea Cafe's First Year Budget Worksheet

Here are the items you need to budget for in order to know how much financing you'll need:

• How much your new business will cost you for the first year
• How much you'll need for personal expenses during that time
• How much money you can expect to get from business income and other sources

If you want to have this calculated for you automatically, just go online to

Instead, if you want to noodle it out without going online, just fill your best-guess numbers into each blank below, get out your calculator and do the math.

First Year Business Budget Worksheet

$____________ Rent/Lease
$____________ Equipment
$____________ Furniture
$____________ Fixtures and Renovation
$____________ Office supplies
$____________ Telephone
$____________ Other utilities
$____________ Deposits on utilities
$____________ Printing and Copying
$____________ Postage
$____________ Advertising/Promotion
$____________ Licenses/Permits
$____________ Insurance
$____________ Loan repayments
$____________ Dues/Memberships
$____________ Autos and transportation
$____________ Shipping
$____________ Legal/Accounting,
$____________ Consulting fees
$____________ Starting inventory
$____________ Replacement inventory
$____________ Cost of Goods
$____________ Maintenance
$____________ Entertainment
$____________ Travel
$____________ Your Salary
$____________ Other Salaries
$____________ Benefits
$____________ Miscellaneous
$____________ Unanticipated costs

$____________ Total First Year's Business Expenses (total of all above)

Estimated 1-Year's Personal Expenses During Business Start-Up

$____________ Rent/Mortgage
$____________ Food
$____________ Telephone
$____________ Utilities
$____________ Medical/Dental
$____________ Insurance
$____________ Transportation and autos
$____________ Education
$____________ Entertainment and hobbies
$____________ Travel/Vacation
$____________ Cleaners, Laundry
$____________ Child Care
$____________ Publications and books
$____________ Personal Care
$____________ Gifts
$____________ Pets
$____________ Charity/Religious
$____________ Other household expenses

$____________ Total Personal Expenses During Business Start-Up Year

Now, you can see how much financing you'll need:

$ ___________ A. Your Realistic Estimate of Business Income (Year 1)

$(__________) B. Minus Business Expenses (Year 1 from biz total above)

$ ___________ C. Business Profit or (loss) Year 1 (equals A minus B)

$(__________) D. Minus Personal Expenses (Personal total from above)

$ ___________ E. Plus income from other sources (i.e. day job, spouse, etc.)

$ ___________ F. How much financing you'll need ( C+D+E)

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