How much money do you set aside for your business?

[Shigobad20201]

Depending on your business you are doing and how you are financially buoyant to save up for your business, some entrepreneurs started their business with their last money so they don't have enough money.

 

[RG5]

An excellent rule can help to make our decision is that we should always set aside enough money which will last six months without any money. This means you will be able to pay all your bills. Groceries, and whatever else for six months.

 

[kayode10]

I tried to divide my income into three equal parts. 30% of the income goes straight into savings. The second 30% will be for major expenses, 10% for tithe while the remaining one is for business investment and project.

 

[Sotherefore]

For now I do not have a business and I haven't set up a single money for business now because I have a lot of things to concentrate on. This will likely take place in future.

 

[Lens]

If I could get close to $2000 then it will be enough for me to establish good business in my country which will be very good for me to make a living for myself in my country.

 

[Setho]

I will always like to save as much money as it is going to be required in order to study business. 40% of my entire income in a month is a fair amount and I hope to reach the threshold very soon.

 

[Smiles20]

Business planning is one very tricky thing because you will have to be keeping money for it and as we are taking care of your bills. This is why I have dedicated a generous 30% of all my monthly earnings towards starting a business.

 

[Lens]

I would like to set aside a good amount of money for my business and this would go a long way to help me in reaching my goals and that is basically what I plan to do for myself.

 

[Chibson]

$2000 will probably be okay for me to venture into the business i am trying to go into. It is a an agricultural business that would give me some good profit on the long run.

I need some piece land in a rural area and the cost of it can be up to 1,000 dollars and i also need about $1000 to purchase poultry products.

 

[Lens]

$2000 will probably be okay for me to venture into the business i am trying to go into. It is a an agricultural business that would give me some good profit on the long run.

I need some piece land in a rural area and the cost of it can be up to 1,000 dollars and i also need about $1000 to purchase poultry products.

Poultry investment is a very good investment that you could venture into to make huge amount of money but you need to have a good knowledge around poultry management.

 

[Chibson]

Poultry investment is a very good investment that you could venture into to make huge amount of money but you need to have a good knowledge around poultry management.

of course, before venturing into the business there are some necessary things I have to learn and know. I already have some knowledge about poultry business in my high school because I learnt animal husbandry. That helped me to learn some things about poultry business

 

[Setho]

If I have close to $2000 I think you should be enough for me to run my business as it were now because this amount of money is a huge sum of money in my home country to start a business.

This is a very good plan that you have taken out time in order to ascertain exactly how much is going to be needed for you to start your own business and I just hope that you are making plans towards actualizing that.

 

[Bookwormlux1]

I do not believe in using all the money that I have in my balance for my business. I would rather just use a certain percentage that I could afford to lose anytime.

 

[Gandiba1]

I currently have not been thinking about putting a real capital with the intention of doing business with it because I'm not even making good amount of money not to talk about starting a business.

 

[Robust]

Right now, I do not set any money aside to set-up a business because I do not much money and am not even earning much talk less of saving for a business, the only thing I do now is to earn for sustaining me.

 

[glitch]

Seems like a smart move to just go based on what you actually make. For me, I am not really put away/aside anything as my online earnings aren't nothing to write home about.

 

[Syldan]

Currently I have not set any reasonable amount of money in the name of running a business even though I have invested some of the resources I have in something different which I can't call it business.

 

[Smiles20]

A lot of people fail in business because they do not have enough funds for marketing and advertising. They manage to spend on product development and business management, but cannot spend enough for marketing.

This is a very sad scenario because I have seen a lot of people who have had brilliant business ideas but they have to limit their self because they do not have so much money to take it forward.

 

[Chibson]

the kind of business you want to start will determine how much you will set aside for it. There are some businesses that does not cost much amount of money and there are some businesses that can cost you a lot of money. Sometimes your location can also determine the amount of money needed to kick-start.

 

[Setho]

I do not believe in using all the money that I have in my balance for my business. I would rather just use a certain percentage that I could afford to lose anytime.

This is actually a very good idea and something that a lot of people should try to emulate. There is always a risk that come with business and you will not want to be overexposed by the end of the day.