Have you figured out what it costs to keep your small business moving forward? Typical small business expenses include supplies, inventory, utilities and rent. However, there are several business costs that are not as obvious. Here are 3 examples of small business expenses that are often overlooked.
1. Inventory Shrinkage
Accidents happen, inventory can get lost due to administrative error, damaged, stolen or spoiled. When a business has fewer items than listed in the inventory count, this is called shrinkage.
2. Credit Card Transaction Fees
Credit cards have made it possible for consumers to purchase frequently and at larger quantities. If your small business accepts credit cards, expect the processing company to charge a fee for every credit card transaction that is ran.
3. Repairs and Replacements
Similar to inventory, vital equipment and machinery may break or malfunction. You have no choice but to repair or replace them in order to continue with your business’ day to day operation. Be prepared for these costly repairs and replacements.
Here’s the solution, with a merchant cash advance from Principis Capital, these unexpected costs will always be covered. Simply complete a brief application online and supply additional documentation. You can have an offer for funding or a line of credit, generally within 24 hours.