How much money do you set aside for your business?

[YERUS]

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?

This would depend on how much i had made the previous year.
Then, i may decide to pull out about 30% as the money i would use to run daily activiites.

 

[Sotherefore]

I do not have a single money for business now because I am not ready to start up any business now, I may decide to do that in the future but for now I have so many things to concentrate on and that is what is taking my time and my money.

 

[Syldan]

I have been trying over the years to save up to 50% of my monthly income in other to start a business over 3 years now. if that money will be totally sum up, it will give a considerable amount of money to start a business.

 

[Immilash1]

Am not in any offline business for as of the moment but I intend to anyway so I do save up money for this purpose. I try to save atleast forty percent of my total earnings in a month and possibly trade with them to kinda increase the amount.

That's interesting. But do you mean capital is hindering you from Starting a offline business of your own? Capitals is the major hindrance of starting most businesses.

 

[Seno inyang]

On a monthly basis, I set aside 20% of my income for business because after making a budget for expenses I don't really have much left to survive with.

 

[Ghost1]

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.

Setting out 2/3rd of your income for capital is good but I can't help but ask how you cope with the remaining 1/3rd. Obviously your income must be large

 

[Ezekiel]

Based on the information given and planned during surveying of the business,though I do not have the money now but I plan to use $250

 

[Syldan]

I have been planning over the years on how to start a successful business and how to manage and control it. I have tried to save 10% of my income on monthly basis to be able to meet the requirements of the business I wish to start. over this period I have save more than 90% of my earnings for business.

 

[tyrim88]

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?

Inour business plan,we try as much as possible to always keep some substantive amount for growth and expansion,inline with the overall vision and projection of our outfit.

 

[Kaffyfolla]

I have notset any money aside for the business but I wish I could because I like to have snail farming which I will need like one hundred dollar for a start

 

[Trexxxy]

Setting out 2/3rd of your income for capital is good but I can't help but ask how you cope with the remaining 1/3rd. Obviously, your income must be large

Well, the thing is I don't rely solely on my income as it is. I try to make money through other means, like crypto and the likes. Relying solely on income isn't the best plan.

 

[Kvngsammy]

In setting aside money to run a particular business what I'll normally do is to consider the budget or financial statement of the previous year ( this is the importance of having good financial records) and then increase the next year's budget by 20% of the previous to cater for unforseen circumstances.

 

[Kubiat-Abasi]

I do spend 60% of my income and profit to further boost my business when I had a poultry farm and I use the rest for maintenance and unforseen circumstances.

 

[kayode10]

I set aside about 30% of my income into savings which I later invest into my business. I make sure I am constant with this so as to have regular cash flow into my business. I have to do this because it is hard to raise capital for your business over here.

 

[Ellamma]

For my business, I set aside money by the end of every month, but how much I set aside depends solely on my earnings for that month. I do not have a specific amount I set aside for business

 

[Bousine123]

I set aside 50 percent of my online earnings on my business because I don't want to become poor , investing is the key to a better life right now

 

[Syldan]

I have been planning for my business, for quite sometimes now. Even though I can not tell how much is required, and how much I have on ground for the business but I have gathered alot from my monthly and daily allowance which I have been saving.

 

[Immilash1]

I have been planning for my business, for quite sometimes now. Even though I can not tell how much is required, and how much I have on ground for the business but I have gathered alot from my monthly and daily allowance which I have been saving.

That's great. But I think you can start up your business with the little amount of money you have. And I believe it will grow bigger but only if you know how to manage a business.

 

[Ghost1]

Well, the thing is I don't rely solely on my income as it is. I try to make money through other means, like crypto and the likes. Relying solely on income isn't the best plan.

Yeah, it's actually so unwise to rely on one source of money. Even wealthy people are diversifying and venturing into different fields

 

[Adecyptii]

Well it depend on the type of business you are running but I can advice one to set aside at least fifty percent of what he has,so that when the need arise he can use it.