How much money do you set aside for your business?

[Robust]

Currently now, I do not have a specific money set aside for my on going business because of the up and down going on in the country. One need to buy alot before this coming Christmas things will increase money.

 

[Sotherefore]

Well even me I'm not even planning of setting up a business now because I still have a lot of things to pursue and business is not one of them.. I'm a rather decide to set up a business when I am settle financially.

Currently now, I do not have a specific money set aside for my on going business because of the up and down going on in the country. One need to buy alot before this coming Christmas things will increase money.

 

[btaliat]

Honestly, I don't really have a particular budget set aside for business. I am just saving as I see. And I have planned to save for exactly five years before trying to set up my own business. But if the money I saved is not enough, I can now source for fund through other means.

 

[ElenduFc]

Remember Forex trade is not a get quick rich scheme but having a compound plan risking 1-3% of a trading account

Key Takeaways​

• The 1% rule for day traders limits the risk on any given trade to no more than 1% of a trader's total account value.
• Traders can risk 1% of their account by trading either large positions with tight stop-losses or small positions with stop-losses placed far away from the entry price.
• The profit target on these trades should be at least 1.5% or 2%.
• This is just a rule of thumb, and some traders may risk slightly more, while traders with larger account values may risk less than 1%.

 

[Adecyptii]

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.

Yes 👍 that's good it will definitely make sence if you can save at least 50 percent if your income, it can assist you to run your business appropriately.

 

[Syldan]

I have dedicated almost 50% of my daily offline stuffs and online income in other to start another business. Business, does not require a fixed amount to money that will be quite enough to run the business effectively. This is because business is a growing phenomenon which requires expansion and expenses on daily basis.

 

[jay]

For me, I have not 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.

The nature of the business that I want to start out is what determines the amount of money that you are looking at setting aside to start up business because when the business requires a huge capital you can't started with small capital.

 

[Sotherefore]

But all the earnings i make online and offline, I was try as much as possible to set aside at least 75 per-cent of my earning and invest them all in cryptocurrency for long-term purposes, sometimes this is not always constant as there is always things to do most of the time

 

[Heatman]

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.

Well, you can just easily start saving money for any business that you have a plan of starting up in the future now, so that you can have enough money when you are ready.

 

[jay]

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.

Personally I believe that every business have a minimum capital that is required for you to start that business and once she don't have that capital is going to be very difficult for you to start such a business.

 

[Alexandoy]

To be frank, I have set aside $10,000 for a planned business. That money is part of the benefits that I received recently regarding the loss of my wife. However, my planned business for now is a home-based food production so I guess the capital is quite huge.

 

[Sotherefore]

Well, you can just easily start saving money for any business that you have a plan of starting up in the future now, so that you can have enough money when you are ready.

I know that is true, but I am not planning to start up business anytime soon because I have a lot of things to do now, business will come to my life later when I am stable financially.. at least for now I am not able to get constant income by working... I have to get a good employment first.

 

[Syldan]

For now, I have not make any budget for any business and for that, no amount of money has been set aside for any business. I am still trying to secure a reasonable job for myself. with time I may do so.

 

[kayode10]

The amount I set aside for my business varies from one month to another. There are times in which I save up to 50% of my income just to spend all my business. The other time I can spend about 10% depending on the expenses I have at hand.

 

[Heatman]

Investing will double your income but only if you invested well. There are many entrepreneurs who fail simply because they think money is all they need in business.

One thing that I've come to understand about businesses that no matter how much you started the business with you will always have to invest my money into the business if you want it to grow more than it already has.

 

[Shigobad20201]

When in started my business , i used all my funding and my resourcesto start the business because I don't have much , but right now I have a reserve fund specially reserved for the busines Incase things go sour,

 

[Immilash1]

Personally I believe that every business have a minimum capital that is required for you to start that business and once she don't have that capital is going to be very difficult for you to start such a business.

True. I agree with this, that's why is always advisable to start a business no matter how small the capital is. But do you think it's Wise to do so? In your own opinion.

 

[kayode10]

I think it is good to set aside about 10% of your income regularly for the business. You can gradually increase it to 20% as Time goes On as this will give you more opportunity to invest in the business for more profit.

 

[Syldan]

The problem I always have with saving some money in other to start a new business is that, The money that will be save for a different purpose,another problem will occur and you will be expected to settle the issue.

 

[Shigobad20201]

The problem I always have with saving some money in other to start a new business is that, The money that will be save for a different purpose,another problem will occur and you will be expected to settle the issue.

Thats what we call unexpected expenses , its a situation whereby the money you are savjng is used for an unexpected circumstances and it always occur when you save in order to start something new.