When you’re starting your own business, the list of tasks and equipment you need to invest in can seem overwhelming. To help reduce the stress and the cost of purchasing equipment for your business, we’ve listed some of the most common essentials for most businesses to help you get started.
Office Equipment
Computers and Software
No matter the nature of your business, computers are indispensable. Depending on your needs, you might opt for desktops, laptops, or a combination of both. For basic models, expect to spend around £500-£1,000 per unit. Additionally, you’ll need essential software like Microsoft Office, accounting software, and any industry-specific programs, which could add another £200-£500 per computer.
Printers and Scanners
Good quality thermal inkjet printing and scanning are crucial for handling paperwork. A multifunction printer/scanner can cost between £100-£300. For businesses with higher printing demands, a more robust commercial printer might be necessary, costing upwards of £500.
Communication Tools
Phones and Internet
Reliable communication tools are vital. Business phone systems range from simple landlines costing around £50 per handset to VoIP systems that might cost £20-£50 per month per line. High-speed internet is another necessity, typically costing between £30-£100 per month, depending on the speed and provider.
Mobile Phones
If your business requires mobility, investing in business mobile phones is wise. Basic smartphones can start at £200, but higher-end models could cost £800 or more. Consider monthly plans for calls, texts, and data, which might cost £20-£60 per month per phone.
Furniture and Fixtures
Desks and Chairs
Comfortable and ergonomic office furniture is essential for productivity. Expect to pay around £100-£300 for a good quality desk and £50-£200 for an ergonomic office chair. For a standard office setup for four people, you might spend between £600-£2,000.
Storage Solutions
Proper storage is crucial for organisation. Filing cabinets, shelves, and storage boxes can collectively cost around £200-£500, depending on your office size and storage needs.
Marketing Materials
Business Cards and Stationery
Creating a professional image requires quality business cards and stationery. Business cards can cost between £20-£100 for 500 cards, depending on the design and quality. Customised stationery, including letterheads and envelopes, might add another £50-£200.
Website Development
A professional website is often the first point of contact for potential customers. Basic website development can cost between £500-£1,000, while more complex sites with custom features might range from £2,000 to £5,000 or more. Don’t forget about ongoing costs like hosting and domain renewal, which could be around £50-£200 per year.
Specialised Equipment
Industry-Specific Tools
Depending on your business type, you might need specialised equipment. For example, a café would require coffee machines, ovens, and refrigerators, while a photography business would need cameras, lighting, and editing software. Costs can vary widely; for instance, a commercial coffee machine might cost £1,000-£5,000, while professional camera equipment could set you back £2,000-£10,000.
Budgeting for Contingencies
Miscellaneous Expenses
Always budget for unexpected costs. This might include repairs, additional supplies, or unforeseen upgrades. A contingency fund of 10-20% of your total budget is a good rule of thumb. For a starting budget of £10,000, set aside an extra £1,000-£2,000 for contingencies.
Conclusion
Starting a new business involves significant investment in various types of equipment. By planning carefully and budgeting appropriately, you can ensure that you have the tools you need to succeed. From office essentials to specialised industry equipment, understanding the costs involved will help you make informed decisions and set your business on the path to success.
