How much money should you have to start a business?

[SeeMeInTheMorning]

How much money should you have to start a business?
< $500
$500 - $1000
>$1000

Somebody told me that It is just under $500 to set up an online business easily, so how about an offline one?

 

[uplana]

It's an odd question actually. The question is more like why you need to such a question?

What business are you going to start and what are your goals?

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[rafeusx]

In many jurisdictions there are zero overheads required operate a business as a sole-trader, no business license or company registration necessary, banking is free in many cases (even without requiring minimum account balances) or has low per-item fees, accounting software is available for free or you can simply do 'cash basis accounting' in a notebook, tax filing can be done for free.

Even with fairly straightforward businesses you can easily end up with $2000 per year of overheads if you're not careful, including: software licenses, domain registration, hosting & email, monthly catch-up with an accountant, statutorily required insurance, company registration and licenses, bank application fees or monthly account fees, yearly filing costs etc. And then out of the blue something could come along and doubles that number, like needing a lawyer.

 

[Sols]

Write a business plan and a budget. What will it cost to start your business? How much more will it cost until you break even? Then make sure you have more than that, so you're prepared in case business is slow or something unexpected happens.

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This is the probably the answer to your question.

 

[pesto]

Sols said:
Write a business plan and a budget. What will it cost to start your business? How much more will it cost until you break even? Then make sure you have more than that, so you're prepared in case business is slow or something unexpected happens.
Click to expand...

best idea, your question sounds more like a bot.

 

[Ready Offshore]

SeeMeInTheMorning said:
How much money should you have to start a business?
< $500
$500 - $1000
>$1000

Somebody told me that It is just under $500 to set up an online business easily, so how about an offline one?
Click to expand...

It depends then there are also financing options available to open a business in the UK.

 

[clemens]

OP don't even bother to reply! @Admin should close this thread.

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[alexpor]

Certainly, it depends on what business are you trying to start? You should save no less than a half year of everyday costs prior to stopping your normal everyday employment and running a startup. That is on the grounds that it'll take some time - something like a half year - before enough cash comes in to start paying yourself compensation. (Generally speaking, it'll take more like 12 to a year and a half.) You could also do research over the web.