Research: First Year Startup Costs
As a venture capital firm, Savannah Fund is interested in the differing variables that can affect entrepreneurs in the countries of startups we have or will invest in. One of the key metrics we want to understand more about is first year startup costs. In this research study, we asked hubs and about three startups per country for their first-year startup costs. These costs include: web hosting, internet, entry level engineer, engineer with 3-5 years of experience, shared apartment (for 3 people), workspace desk rental, legal costs, business permits, accounting, travel, and admin/sales.
DISCLAIMER: While our sample size was relatively small, we were interested in seeing the differences between startup costs with a sample from our investments or potential investments. There are a number of variables that could change these numbers, such as industry of startup, personal preferences of startups (which could affect size of home and willingness to spend on personal costs), etc. Also, since these numbers may vary from startup to startup within countries, we averaged the numbers we received.