How much does it cost to run a Startup around the world?
Ever since the dot-com bubble, startups have been coming out left and right. This phenomenon led to an easy way for entrepreneurs to set up and start a business. Though many have failed, we have also seen many who became successful. This is why a number of entrepreneurs at heart are also seeking to start up their own business.
If you are one of them, you may have wondered what does it really cost to run a startup. There are a number of factors to consider. The location, the people you hire, the nature of business and more.
Also Read: A to Z Startup Checklist
But, if you are a tech startup and you decide to go lean, this infographic might help you out. It shows the cost to run a startup in 8 major cities around the world having only two web developers, one designer and an office.
Here are some notable comparisons we can make out of the infographic:
- Even cities in the same country have significant differences. In the United States, setting up an office in New York will cost you around $45,000. But, in San Francisco it is only at around $22,000. That is half the cost and a really huge difference already.
- In Zurich and Sydney, it will cost you over $300,000 to run a startup. But, in Manila and Mumbai it will only be at around $40,000 to $70,000. If you come to think about it, that is an 80% savings in cost.
- In comparing the salaries, look at London and Paris. It is a bit more expensive to run a startup in London ($240,000) than in Paris ($205,000). However, if you look at how much the designers are paid in each of these cities it shows the opposite. Designers in Paris have a higher salary rate than those who are in London.
- All of these figures are necessary to compare if you are considering starting your own company. There are a number of ways you could get set up. But, if you will not do the necessary research before diving in, there is a good chance you will fail.