How much capital was invested during your early business start up??

[Grandeur]

Many of the input here proves that it is important to note the importance of cash flow for a business and so it's important to know the how to make money flow as that is what would keep the business standing.

 

[Heatman]

Interesting one. Its good that you've cleared your outstanding loan. Now is the time to recover and make your own profit.

Seriously, I am never in support of getting business loan to start a business because of the challenges that comes with being able to pay it back and it's only the fortunate ones that succeed.

 

[jay]

A friend of mine used #100,000 which is $200 as his capital for a small scale importing business. He manage to grow the business to be worth $500.

Importation business is something that's everyone who knows how to deal with it can easily make money from because there are a lot of things that you can import and sell and make more profit.

 

[Bousine123]

This year I started a small business, the capital I used for Starting up the business was $20, it is still growing and am getting good feedback from my customers as they all love what am producing.

 

[kayode10]

I was able to raise about 65% of my startup capital when I establish my first business. Overtime I was able to convince some of my friends and family member to invest into my business idea with the hope of receiving return on every investment.

 

[Heatman]

Its good, he made out the repayment of the loan and generated profit for himself at the moment. I believe he worked his ass out before making out those funds.

Paying back the financial loan that you collected for starting your business is one of the things that should be your biggest priorities because if you don't take care of it your business will suffer for it.

 

[Sincerem]

Seriously, I am never in support of getting business loan to start a business because of the challenges that comes with being able to pay it back and it's only the fortunate ones that succeed.

If you aren't sure about that, you shouldn't waste your time trying to take a loan from any loan company to operate your own business. It's okay as you've seen the reason not to start with loan when you're unsure of your success.

 

[Heatman]

I want to get your opinions on this one. Everyone budgeted a certain amount of money during his or her business start up. How much capital did you inject into your business? Have you made profit ever since you started the business??

I actually started my cryptocurrency business with $50 and ever since then I've grown from time to time because I kept on investing more in the project.

 

[Grandeur]

I don't have a business, therefore, the question does not apply to me. However, I have friends who started their business with just $10 and now generate at least $200 monthly profits.

But what kind of business's can one start with $10 as at now seeing the rise in cost of items and the capital intensive businesses out there, I would like to k ow maybe I can start too

 

[Shigobad20201]

The initial money I use in starting my business is almost three hundred and fifty thousand naira and after that i kept restocking the store with the money i am making online.

 

[tyrim88]

My own was actually an online business and when I started the business I didn't have any understanding about it and I invested about $60 in the business and I almost lose it all until I started having a mentor who guide and train me on how to do it and I've started making profit from it.

One of the things any new venture should have is to get a proper guide into the sector he is going intoso that he can avoid pitfalls along the way,this will save one a lot of time and uneccessary loss of his inital capital.

 

[kayode10]

I was manage to raise about 30% of the business capital when I want to establish my business idea. I was determined to re-invest the profits and that is why I was able to sustain the business. I wish there should be a government agency that will give forgivable loan to the new business owners

 

[jay]

It has been going quite well so far, the profit is small but consistent. Hoping to expand, my advice will be: take it slow, don't expect sudden and huge profit. You will eventually do well.

When you are actually making a decent amount of profit from your business it is always going to be very easy for you to expand the business to the level which you are comfortable with.

 

[Heatman]

I can't remember exactly how much I spent to start my first business but it must be around 25,000 naira. Since it's a farming business, you can decide to start with any amount base on the land capacity you can cultivate

A friend of mine actually started a fish farming business 5 months ago and it cost him at least a minimum of 400 2400 to actually started out which is still taking more money for him to finalize everything.

 

[Skysaint]

I haven't really engaged in any online or offline business just yet although I am making provisions for that. But back then in highschool, I do engage myself in petty businesses and all I needed to run it was my pocket money and I would end up doubling the amount at the end of the day.

 

[Sotherefore]

One of the things any new venture should have is to get a proper guide into the sector he is going intoso that he can avoid pitfalls along the way,this will save one a lot of time and uneccessary loss of his inital capital.

So does it really mean that without proper experience a person's is not likely to succeed in a business ? what of people that are studying it directly in the University , can't they start up what they studied in school ?

 

[tyrim88]

So does it really mean that without proper experience a person's is not likely to succeed in a business ? what of people that are studying it directly in the University , can't they start up what they studied in school ?

I am not talking of having an experience first before you venture into any business,but to have an overview and knowledge of how the operations in the sector really is, the actual experience is in engagement.

 

[Shigobad20201]

you can never know the actual amount in which you used in starting your business unless you are writing down all the details of the amount spent when starting the business.
you can never know the actual amount in which you used in starting your business unless you are writing down all the details of the amount spent when starting the business.

 

[tyrim88]

I've never owned a personal business. but to start a business you need to have enough capital , having enough capitals will help your business grow faster.

Most times one dose not really need to have that huge funds to be able to start up a viable business,the knowledge and proper structure of the market and the enviroment,then with a good business proposal,you can source for funds or get a partnership.

 

[Setho]

The business that I started can pretty much be described as a small business because I invested as little as $100 in order to start it. This was in addition to me already having a space and also some equipment that was necessary for the smooth running of the business.