Today's FedEx top tip: Plan for unexpected costs

Business owners are good at keeping track of the large stand-out costs, such as rent and tax, but sometimes can get caught out by the hidden costs – which can be substantial.

To budget for unexpected costs it’s advisable to set aside some ‘rainy day money’, so operations can run as normal even if something unexpected occurs. Some costs you might not anticipate could include the price of business insurance, vital to protect both your business and your customers against most eventualities. Additionally, the cost of business travel can mount up from meeting suppliers, clients, investors and conducting business meetings. If your business exports, take into account customs duties as well as currency fluctuations and budget for these accordingly, to help your business enjoy a higher level of growth overseas.

To help give your business a boost, enter the FedEx Small Business Grant Contest. For more information, click here uk.grant.fedex.com/.

This was posted in Bdaily's Members' News section by FedEx .