The American dream is to be your own boss, but just how much does that cost? 50% say they underestimated the costs associated with getting their dream business off the ground.
That’s why my team at Business.org dug into The Average Startup Costs for Small Businesses in 2022. We analyzed how online, storefront and mobile businesses differ—and which unexpected costs hurt their bottom line.
We found that business owners are spending an average of $100K to start their storefront business, while only spending $35,000 to start an online business. (and only 30% of business owners can qualify for a loan in their first year.)
Check out our full report here: https://www.business.org/finance/loans/the-cost-of-starting-a-business/