What branding will cost will depend on several factors such as the size or stage of your business, and whether you outsource or insource the branding effort.   

Size or Stage:  The size of the small business can be used to determine what the cost for branding will be.  Branding experts usually charge startups less than established or mid-sized businesses.  Startups usually have less money to spend on branding and hence could be charged less than $1,000 for branding.  The cost for established and mid-size companies can be in the tens of thousands of dollars.

Outsourcing:  When you outsource it will come at a price.  The cost will depend on which branding expert you chose.  Branding experts have different price ranges.  Some charge based on the amount of time they have to spend on the project while others charge based on the branding actions that have to be taken.

Insourcing:  When you insource the branding effort you can control the cost.  You can find bargain prices on brochures, business cards, web development, graphics design, etc.  You can use labor (employees) that is already paid for to shift their focus on the branding efforts.