Business forecast works only when you can evaluate what can happen. Here are 5 ways unexpected expenses occur in your business. #business #outsourcing #costeffective

1. Business forecast works only when you can evaluate
what can happen. Here are 5 ways unexpected
expenses occur in your business
5 WAYS
UNEXPECTED
EXPENSES OCCUR
IN YOUR BUSINESS

2. EQUIPMENT AND
MAINTENANCE
You need equipment to get the job done. There maybe
unexpected repairs and maintenance required for your
equipment and tools.
As your business grows, the additional equipment you will
require add to the cost too.
1

3. You cannot be a specialist in every aspect of running your
business. Professional Expertise can help you with less
familiar areas, these fees can get expensive, however
they are crucial for you and your business.
PROFESSIONAL
FEES
2

4. PAYMENT
DELAYS
These are not a direct expense. It is worth looking into
your payment terms and conditions, setting up a process
for following up with late-paying customers. Not all your
efforts will lead to on-time payments, give yourself a little
cushion to manage such payment delays.
3

5. Not every business owns the building that they run their
business in. For most businesses who rent, it isn't very
predictable how much your rent and other associated
operating cost may increase.
INCREASE IN
RENT OR OTHER
OPERATIONAL
COSTS
4

6. EMPLOYEE
BENEFITS
Employee benefits, such as health insurance and other
perks, you’re likely incur a yearly premium or maintenance
increase in your budget. Reviewing insurance options
earlier in the year, and accounting for expected cost in
maintenance of employee benefits can eliminate the
chances of unplanned expenses.
5