When it comes to big purchases, small businesses often have a habit of looking at one thing: the price tag. It’s simple, right? Look for the smallest number.
It’s a method that promises thrift but often delivers a far more expensive outcome. If you actually dig into that lower initial price, you’ll find that it may conceal a greater financial burden over time. This is the total cost of ownership (TCO), and it’s a vital concept to understand for any small business.