Starting a business feels thrilling, doesn’t it? You’ve got the idea, the drive, and that plan that makes you believe this could really work. You’ve even budgeted for rent, salaries, and inventory. But what about the hidden costs that show up later on, just when things are getting exciting? These are the small, sneaky details that don’t seem like much until they pile up and start tugging at your cash flow.
Fortunately, a little foresight goes a long way. When you plan for these costs early, you stay in control and keep your business on solid ground. Let’s talk about six startup expenses that often fly under the radar and how to manage them like a pro.
1. Transfer Fees
Money moves fast in business. You need to pay employees, settle with suppliers, and transfer funds to service providers. If you use traditional methods, each transaction typically comes with a tiny fee. It looks harmless at first, but add them all up, and suddenly, you’re losing thousands a year to processing costs.
On the other hand, with a digital business banking solution like Maya Business Deposit, you can move money freely and efficiently. You can batch pay suppliers or employee salaries through InstaPay or PESONet without worrying about transfer fees. Moreover, you don’t even need to worry about maintaining a minimum balance. Even better, your funds can earn up to 2.5% p.a. interest, which is much higher than what traditional commercial banks offer. That’s a quiet win for your bottom line, with inflation being one less thing to stress over.
2. Licenses, Permits, and Legal Protections
Licenses and permits are your ticket to legitimacy. Depending on your location and business type, some are one-time costs, while others need annual renewal. Forget them, and your operations could stall or your business could face penalties.
Additionally, as your business grows, legal protection becomes more important. You’ll want to trademark your brand name or secure domain extensions like .com, .ph, and .net before someone else does. Think of it as locking the doors before you decorate the house. Yes, these are extra expenses, but they save you from expensive headaches later. So, plan for legal clarity today for peace of mind tomorrow.
3. Technology Infrastructure and Software Subscriptions
No modern business runs without tech. A laptop and Wi-Fi are the easy part. What’s easy to overlook are the recurring digital costs, like web hosting, SSL certificates, software renewals, and the endless list of tools you’ll eventually need. Miss tracking them, and your cash flow might take a surprise hit.
This is where having the right financial setup makes life simpler. Specifically, a Maya Business account gives you an all-in-one system that helps you to pay, get paid, and manage your finances. Beyond giving access to business banking online solutions like Maya Business Deposit and Maya Flexi Loan, a Maya Business account also sets you up to be able to take advantage of online payment solutions and in-store payment tools that are built for entrepreneurs like you who like things efficient, seamless, and clear.
4. Information Security and Cyber Protection
Of course, the more digital your business becomes, the more vulnerable it is to cyber threats. You may think hackers only target big corporations. The truth? Smaller businesses are often easier targets because they typically lack the strong defenses afforded by expensive security measures.
That said, smaller businesses can still have all their bases covered if they choose the right tools and partners. This can mean using secure cloud-based accounting software, point-of-sale systems with built-in fraud detection, and payment platforms that offer encryption and multi-factor authentication by default. Password managers, endpoint protection, regular data backups, and automated software updates also go a long way in reducing common vulnerabilities without requiring a specialized IT team.
As mentioned, choosing the right partners is just as important. When you bank with Maya, for example, you get enterprise-level and world-class protection built in. Maya is a Bangko Sentral ng Pilipinas-supervised financial institution, which means it operates under strict regulatory standards designed to keep your funds and data safe. Moreover, Maya bakes security into every layer of its platform, from advanced encryption and real-time fraud monitoring to multi-factor authentication and secure transaction protocols.
5. Employee Benefits and Development
Paying salaries is just the start when it comes to employees. Benefits like health insurance, paid leave, and government contributions are essential, not optional. Then there’s training and professional development. Specifically, workshops, online courses, and mentorship are unavoidable investments. They might not show immediate returns, but they build capability and loyalty.
Managing payouts and reimbursements doesn’t have to be tedious either. As mentioned, with Maya Business Deposit, you can send employee or vendor payments instantly and without transfer fees. It’s not a full payroll system, but its disbursement feature saves time and avoids unnecessary hassle.
6. Shrinkage and Inventory Loss
One of the most underestimated costs is shrinkage. It’s what happens when you lose inventory, materials, or cash due to theft, damage, or even simple accounting mistakes. It happens quietly but costs real money.
For example, a café can lose ingredients because of poor stock tracking. Meanwhile, a small logistics company can experience losses when shipments go missing or are incorrectly recorded in the system. A retail store may deal with shoplifting or employee theft, while a startup manufacturing business can lose raw materials due to improper handling or mismanagement. All of these can be frustrating and time-consuming, but ultimately preventable
Digital solutions from Maya Business make it easier to catch errors early. Maya Terminal, for example, is more than a credit card terminal. It helps process a wide range of electronic payments, which means less cash handling and reduced mistakes, theft, or counterfeit bills. With every transaction securely tracked and recorded, business owners gain greater visibility and control over their sales, helping them protect revenue and streamline operations.
Plan Ahead and Protect Your Cash Flow with the Help of Maya Business Solutions
Every entrepreneur dreams of growing fast, but the ones who last are those who plan smart. By anticipating these expenses, you protect your cash flow and keep your growth steady. And when you work with a reliable online business banking partner like Maya, you can manage your finances all in one place. So, sign up for Maya Business to prepare for these often-overlooked costs without financial stress and set your business up for steady growth.
Setting up a Maya Business account lets you open a Maya Business Deposit account and use it as your settlement account. With an industry-leading 2.5% per annum interest rate, you’ll earn PHP 25,000 in interest per year on a PHP 1 million deposit. Furthermore, you’ll be able to send money to your partners and suppliers for free via InstaPay and PESONet, letting you save more.
Signing up also qualifies you for a no-collateral Maya Flexi Loan offer of up to PHP 2 million in just 3 months, allowing you to have another funding source to further develop your business. Just use Maya as your primary processor for all wallet and card payments. The more you use our solutions, the better the loan offer will be.
Sign up for Maya Business today to enjoy the benefits of Maya Business solutions.
