How much money do you set aside for your business?

[Shigobad20201]

Normally , since i realised my business has been well established , what i am doing presently now is trying tonhave a reserve fund for my business and i have been saving 30% of my online earning for that.

 

[jay]

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?

Personally, I don't have any specific amount of money that I set aside for my business but always make sure that the money that is needed to run the business has always made available.

 

[Syldan]

For now, I have not set anything or any amount of money in other to run a business because i am financially low even though I have a business plan which I want to achieve in the future.

 

[joy101]

Starting of business depends how much you have setting aside your business because starting a new business you have to saving enough money for that, before going into business.

 

[kayode10]

Ideally you should be able to said aside about 10% of your income to the business and investment. 10% should go into savings which you can use to cater for some other needs. But you should have it in mind that you will reinvest the profit what's the business start to boom.

 

[Kvngsammy]

Having learnt about the idea of dividing income by percentages and sticking to it, I've currently set aside 20% of my income to business development and also reinvest at least 40% of profits as well back into the business.

 

[Skysaint]

Well, luckily for me the business am planning to venture into ain't capital based as it's an online business that doesn't require you to make so much expenses but you will have to spend to learn the skill and perfect on it.

 

[Shaffy]

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?

Without a fixed income, it's hard for me to do that. I like how you've organized your savings. This is what I intend to do once I have enough to take care of daily expenses.

 

[Ogbest]

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?

Hahahahahaha, set aside? When I haven't held the one for my daily survival? Though people say one has to save first before spending, but all na motivational quotes. You don't save when you haven't eaten. Before saving, at least you must have to live first

 

[Heatman]

I usually set aside about half of my money aside as capital for business. I prefer investing a substantial amount of money in it after setting aside a little for savings and expenses.

This is actually why budgeting is very important for your business because it will help you to know exactly the required amount of money that you need for the facilitation of your business.

 

[Sotherefore]

For now I'm not really planning to establish a business , just concentrating to do any other things like investment in cryptocurrency and probably concentrating in my education . when I am done with that I may decide to establish a business.

 

[ahmedo24]

For now I'm not really planning to establish a business , just concentrating to do any other things like investment in cryptocurrency and probably concentrating in my education . when I am done with that I may decide to establish a business.

It is better because business require a enough capital to start and the time to focus and build the business is very important. Cryptocurrency Investment is also a good way to raise capital.

 

[Heatman]

I usually set aside about half of my money aside as capital for business. I prefer investing a substantial amount of money in it after setting aside a little for savings and expenses.

There are some people who actually more into investment than handling their own business in which they invest at least over 80% of their money into an investment projects that they trust.

 

[Shigobad20201]

As a small business owner who doesnt even have much to start the business , i started with all the fund I have , and i was later saving my earnings online for any impromptu on my business later,

 

[jay]

I usually set aside about half of my money aside as capital for business. I prefer investing a substantial amount of money in it after setting aside a little for savings and expenses.

The amount of money that I'm likely to keep aside for my business is directly dependent on the kind of business that I'm into because if my business requires 5 million naira to be set aside for it, I cannot keep 200,000 for it.

 

[Sotherefore]

It is better because business require a enough capital to start and the time to focus and build the business is very important. Cryptocurrency Investment is also a good way to raise capital.

Well you cannot be so sure because it's not every one that have been able to raise capital with cryptocurrency, it is only people with understanding that may be able to raise capital with cryptocurrency because they know how to do it to make profit.

 

[ahmedo24]

Well you cannot be so sure because it's not every one that have been able to raise capital with cryptocurrency, it is only people with understanding that may be able to raise capital with cryptocurrency because they know how to do it to make profit.

Offcourse I can't take everyone into consideration because the percentage of people into cryptocurrencies is still small when compared to entire population, however people that understand the trend are making money from it.

 

[Profwriter]

It takes alot of courage to transition from being an employee to an enterprenure and that requires great financial arrangements and planning, depending on the amount you earn, you can set aside up to seventy percent of your earnings to start a new business but if you are not earning much and you want to get your business running without much delay, you can simply take loan and get your business running.

 

[ahmedo24]

It is not even an easy task to become a successful entrepreneur but if you start from scratch and you're passionate about it you can easily grow but if you have a sustainable job then you can gradually is set aside close to 20% or 30% to start up your business someday.

 

[Sotherefore]

Offcourse I can't take everyone into consideration because the percentage of people into cryptocurrencies is still small when compared to entire population, however people that understand the trend are making money from it.

It is only few people that really understand how to do this perfectly , for people that don't really understand this the possibilities of making money with cryptocurrency is relatively low and it is even said that at least 90% of all traders will lose their money in one way or the other.