How much money do you set aside for your business?

[Syldan]

Business is a continuous process which I believe, it requires a very huge amount of money though it can not be specified because there are alot of business challenges that may comes your way and needed to be settled.
Personally I have been trying to earned some money online which I believe will helped me in starting a business in the future because I have not started any business yet.

 

[Danny4cash]

How much money you need for business depends on what kind of business you are doing and how you are doing. If you are doing online business, you don't need much, but if you are doing offline business, you need lot of money.

Very true, but online business also need budget. I set aside money for online business. Recently, I sat down and calculated how much I will be needed to create a standard website. Any money I made now since that calculation, I always set aside part of it.

 

[Shigobad20201]

As we all know the situation of the country and the economic situation of the world , the prices of goods and product keep changing and business is a continuous process , so its not easy keeping a certain amount for a business because their might be a Change in price .

 

[Immilash1]

As we all know the situation of the country and the economic situation of the world , the prices of goods and product keep changing and business is a continuous process , so its not easy keeping a certain amount for a business because their might be a Change in price .

That's absolutely true, if you are having money as the us dollar keeps on rising your networth will keep on depreciating, that's why it is always advisible to earn money in dollars.

 

[tyrim88]

One thing about doing business,is that you should be very discipline enough and be delibrate in your approach on how you manage your business,you can decide to save and reinvest about 60 percent of your earnings.

 

[Shigobad20201]

I dont have a definite amount of money being set aside for my business because i actually started the business from scratch and i keep developing it as i am getting more money.

 

[joy101]

Well, when it comes down to setting aside capital for business investment, I try as much as possible to set aside 2/3 of the money coming in, so that when the business eventually starts I'll be good to go.

The kind of business you really want to do can actually depends the kind capital you keep aside for business, if actually the person wants the business to be very big it's will cause the person much money to start up the business.

 

[Agbalagbaa]

Well this depends on the kind of business you are having, we are expected to save a good amount of money to our business,this might help you alot in terms of need.

 

[Shigobad20201]

The money you need to set up a business depend onnthe particular type of business you want to start , so you need to make a research first before knowing the amount needed ,

Well this depends on the kind of business you are having, we are expected to save a good amount of money to our business,this might help you alot in terms of need.

 

[Agbalagbaa]

The money you need to set up a business depend onnthe particular type of business you want to start , so you need to make a research first before knowing the amount needed ,

I agree with what you've said, the amount of capital you'll need will depend on the kind of business you are venturing into, but I'll advise you to start with the little amount of money you have.

 

[Joseph555]

I started setting aside money for business. But I will start doing so as soon as I start earning better income. I think the amount I set aside will depend on how much I have decided will be enough for me to start the business.

 

[frederick_9]

I typically set away half of my income for startup capital.
After putting some money away for savings and expenses, I prefer to invest a significant amount of money in it.

 

[Shigobad20201]

I am not really financially buoyant and thats the reason why i started a small business and i cant even list the amount of money i started with because I am updating the business everytime I am making any amount of money .

 

[Georgeadawara1]

it has been long that I was trying to save some money to start up a new business and that business will cause me up to #500000 and presently I have save up to # 300000 to start the business

 

[Amanda_5]

As for me I dont have that yet planned but I ll do that as soon as possible when I start to earn more money. Because I cant set aside the little money I earn. That wont help me in any way

 

[Shigobad20201]

As for me I dont have that yet planned but I ll do that as soon as possible when I start to earn more money. Because I cant set aside the little money I earn. That wont help me in any way

Since you are not ready to start your business right now , setting aside miney will just mean your money will be stagnant , you should rather use the money for investment , so you can be earning more instead of saving .

 

[Alisco]

I usually Try to set aside 20% of my yearly business profit as a backup or boost to my next business budget. Within that 20% of my savings I do discount to my customers and replace lost with it and give out Christmas bonuses in other to retain regular customers.

 

[Imran_Noori]

How much money would you say you try to set aside for your business? I try to set aside a much as possible. I try to budget out my whole year, and usually I do a good job of that. Each year is different though. What about you?

I put about fifty percent of my income for business and investments because I know saving money will not make me rich but start a business and investment could do it.

 

[Genie011]

Savings is an important part of building wealth.
In as much as you make large sums of money ,it is always good to save and invest a certain percentage of it.

 

[Sotherefore]

It depends in my business plans and preparation that the time. Currently I don't even have any plan of establishing a business anytime soon. The amount needed will completely depend on the business , its location and other factors.