How much money do you set aside for your business?

[Good-Person]

If I want to go into agriculture sector in my country, I would need nothing less than 5 thousand dollars and this is huge, and would guarantee better returns.

Business related to Agriculture might not be easy to conduct. You might be needing a lots of experience or you may need to partner yourself with a person who has a great knowledge about agriculture.

 

[Ebro01]

I budget 5million naira for a start up,am not saying am satisfied because in my country almost everything we do is stressful. The paperwork from the government, my location and site. Then the equipment, staffs, and resources.

 

[Psalmseen]

This is a very important aspect of business planning. One must set aside a substantial amount of money for one's business. There's something we call additional capital. Should in case the opening capital isn't enough, you fall back on that.

 

[Godspower]

I budget 5million naira for a start up,am not saying am satisfied because in my country almost everything we do is stressful. The paperwork from the government, my location and site. Then the equipment, staffs, and resources.

Five million is quite a substantial sum for a start up. However, with the increase in prices of raw materials as well as land and labour, you might possibly exhaust that sum before the business is ready to kick off.

 

[jay]

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.

It is actually very important that whenever you are going into investment that you make sure that whatever project you are investing on is not a fake projects that will end up making you to lose money.

 

[Shigobad20201]

In my line of business (catering and baking) business , you need to set aside some amount of money for urgent business because most customer prefer paying at the end of the business , so most of the time , you have to run the business with your money first,

 

[Bookwormlux1]

I am in a confused state where I tend to have so many businesses in mind to do, but none seems to be working right now. So I think more capital of up to $5000 is needed for me to grow my ideas.

 

[kayode10]

I said about 20% of my income into savings which I divide into two. Half of the savings goals today business while the other one go for investment in cryptocurrency and valuable metals.

 

[Syldan]

Well, one thing I believe with business, is that. Business is not something that a specific or fixed amount of money will be deposited in other to start but any amount of money available, can start.

 

[Bookwormlux1]

I have been able to keep about $100 for a business that I learnt in December last year, and I am believing God that it will you so much returns on investment, because I took so much time to make sure I learn everything possible.

 

[Sotherefore]

Well since I'm not planning to start up an offline business now I set aside almost 70 percent of my earning to my savings wallet, saving is also very important if people do not have an opportunity to start up a business because of one reason or the other.

 

[Swazykid4all]

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.

 

[Bousine123]

Right now I want to keep 50 percent of my savings to start a more profitable business in my area, my only problem now is how to get a shop, I see opportunity of people coming to buy from me, because we lack shops around here.

 

[Good-Person]

I usually set aside some spare money because I also need to deal with all of my regular expenses all the time. This is why I do not invest all I have. I do not think that it would be a wise decision to invest what you could not afford to lose.

 

[Lucy ID]

When you want to determine the amount of money you want to set aside for a business you have to know the kind of business you want to start and make extensive research about it and everything that to do with it's finances and many others before you can say a or know the amount to set aside

 

[Psalmseen]

For my business, i make sure I Make the necessary plans so as to know how much I'll really need to execute all the plans. It's very necessary to know the rough amount that one would need to make the business a success

 

[kayode10]

I said about 30% of my income aside for savings and investment. The service goes to the investment as well as the business I am running. I am doing this because it is difficult to raise money from other people for your business idea.

 

[Grandeur]

I don't just start saving money for something I'm not sure of, first I draft my idea of the business then I do a feasibility study about how much the set up may lijy cost before putting away funds from my income.

 

[kayode10]

I set aside the percentage of my income regularly in case I might come across an investment which I will need to put money into for maximum return. I also say for unforeseen circumstances.

 

[Skysaint]

Well, for now am just into cryptocurrency business or should I say trading so I actually direct most of my online earnings to it so I can earn so more while saving and trading in the platform.
Although I don't exactly understand what is happening in the cryptocurrency market right now.