Surprising Small Business Expenses [Infographic]

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Surprising Small Business Expenses [Infographic]

  1. 1. Data aggregated from 12,072 small businesses April-June 2012
  2. 2. Toll Free: 1 (888) 369-4269Why we created this infographic:Running your own business can feel lonely attimes. It is often hard to find advice orcomparison points even for the most basicquestions: • Am I paying too much for insurance? • What % of my costs should rent represent? • Is my cost structure typical of a company of my size?
  3. 3. Toll Free: 1 (888) 369-4269How we did it: • We aggregated expense data per category for more than 12,000 small businesses, then calculated the average per business. • All expenses in the sample were tracked and categorized by Shoeboxed.
  4. 4. Toll Free: 1 (888) 369-4269Trends you should know aboutIn our data sample, there was a big jump in thefollowing expense categories: • Insurance (25%) • Utilities (135%) • Telecommunications (20%)These expenses are usually put on automaticbilling, which means it could be months before younotice the increase. TIP: Put a reminder in your calendar every few months to see if there are any large price variations in your recurring expenses.
  5. 5. Toll Free: 1 (888) 369-4269Trends you should know aboutIn our data sample, 50% of receipts weregenerated on the go: - Airfare, taxi and gas receipts, meal checks – all of these little pieces of paper add up to 50% of all receipts tracked. - If you want to claim these expenses as tax deductions, you must have records of these pieces of paper.
  6. 6. Toll Free: 1 (888) 369-4269To view the original infographic, visithttps://www.shoeboxed.com/blog/small-business-expenses-how-do-yours- compare-to-the-national-average/5540/
  7. 7. Toll Free: 1 (888) 369-4269About ShoeboxedSince 2007 Shoeboxed has been the industry leader in online receiptscanning and organization, serving over 500,000 small business ownersworldwide. The pioneers of cloud-based receipt scanning, Shoeboxedsaves users time, money and hassle by turning receipts into a categorized,IRS-accepted archive of secure online data.Shoeboxed offers a fully functional free plan, as well as premium plans thatinclude a prepaid mail-in service for physical receipts. Shoeboxed alsoaccepts receipts via their free smartphone apps, with their free desktopuploader, or at receipts@shoeboxed.com. Shoeboxed is based in Durham,North Carolina, and has growing offices in both San Francisco, California,and Sydney, Australia. www.shoeboxed.com 1-888-369-4269

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