Industry sector:

Electrician: General expenses

Every month you are likely to spend some money on different goods and services for your electrical contracting business. These might include:

  • subscription to a trade journal
  • trade association membership fees
  • repairs and maintenance to tools, including recalibrating electrical testing equipment
  • computer and general business supplies

Make an estimate of the amount you are likely to spend on general expenses every month.

Once your business is up and running do not forget to record what you spend on general expenses and keep receipts wherever possible.