How much capital, in terms of time, is needed to start a business?

[Tinaconcept]

The time needed for a business depends on the type of business in the first place. Some businesses might require huge capital and equipment and then little amount of time to let it run but which e er type of business I think starting up requires your time and attention of which if it stands you can leave it to run if its a type that require little time

 

[Ryeetar]

No amount is to small to start up a business, you can always start on a small scale then over time you can expand your business. With as little as five thousand naira, you can start up a provision business in school with the aim of making profit. No amount is too small to start up a business, you can start from somewhere.

 

[Alexandoy]

When I had my start up the first problem I encountered was the lack of fund. The capital that I estimated was quite accurate but I pursued the opening of the business even without the needed amount based on the estimated capital. That was a big lesson to learn because the business would suffer when there is lack of fund. Borrowing money is not the solution albeit it compounds the problem in the finances.

 

[kayode10]

The capital and time needed to build a business depends on the type of business you are intending to start. There are some businesses that require low capital but needs lot of time to yield good result. There are some business that all you need is huge capital within short period of time you are going to make all your money back. In my own opinion, there is no one-size-fits-all when it comes to be build businesses.

 

[Abelcairo43]

COncerning the amount of time needed, it also depends on what kind of business you're going into. Different businesses only takes time to plan, execute, and begin and then there is no need for so much time to run it continually.

 

[Mikomataracy]

Capitatal said to be the resources put together to start a business. And time you dedicated for depends on the volume or the size of the business. Therefore time management is very important in business.

 

[Shahid Abbas]

Of course when it comes to a business the amount of capital that you will need in order to start that business will vary based on the business model that you have. For example someone that is looking to sell clothes may need a small investment and someone that is looking to sell electronic items because the cost of each item may be lower for their business. So in that regard the amount of capital that you need is going to be dependent on what type of business you own.

However, in terms of a time period, how much capital do you think is needed in order to start a business? In my opinion starting of a business is always a slow venture as you build up your customer base, and they always initial capital investment such up to pay off before you can start earning a profit. Therefore, I think that when you start a business you should have at least six to eight months worth of capital that can give you going through all this time in order to cover your operating costs and possible losses through this time.

What do you think will be a suitable time period that you should account for when starting up your own business?

It depends that you step into what kind of business and what kind of audience you want to target and if you going into big business then required heavey capital in the business then you get some positive result from it.

 

[GIFTMICHAEL]

You really made a good point there.
People need to give their business sometimes to stand before trying to touch the business money. For me 5,6,7 months is okay to set some money apart from touching your gain or the basic money in business.

 

[Maliha]

In terms of time you need the capital so you can imagine that starting business will be suitable there because I have seen many of the starting business gone failed due to not having capital at the best of thei4 time.because as the tile goes on and you Start getting development in your business so your needs and requirements will also be increase.so you would have different capital requirements at different time or stages of business

 

[Seun4luv]

It depends on the business you want to do. For instance, in my country you need big capital to start up a business if you want to make a good profit. Such business like poultry, Fish pond, water factory etc.

 

[BrolySSJ]

In terms of time you need the capital so you can imagine that starting business will be suitable there because I have seen many of the starting business gone failed due to not having capital at the best of thei4 time.because as the tile goes on and you Start getting development in your business so your needs and requirements will also be increase.so you would have different capital requirements at different time or stages of business

This is a very good point and I think that people fail to realise that expenses to change in a business from month to month. In fact the amount that you moved to operate the first month of your business may be significantly different from the subsequent ones especially when you take into account the fact that there is inflation that happens on a constant basis and that they may be certain circumstances that you have not accounted for. Therefore, when planning for the months in advance in terms of capital you have to consider these factors as well.

 

[Hasan Raza]

No doubt your points are very valuable dear. But it all depends upon the nature of the business. Either you are going to start a small scale business or large scale business and with all this you must have knowledge about the market where you are going to start business.

 

[Erik4150]

It is good that you are looking at the capital from that perspective of time. Most business owners don't consider time before using the capital to set up businesses. But this depends on the kind of business you are doing. Some business would take a few months to set up, some might be set up in just a month.

 

[Adexgrace]

Considering capital for start of a business in terms of time varries, depending on the business you are going into. Some businesses like food selling requires maximum of 3 months provided its in a good location and there are no competitors within.

 

[Zubair]

Of course when it comes to a business the amount of capital that you will need in order to start that business will vary based on the business model that you have. For example someone that is looking to sell clothes may need a small investment and someone that is looking to sell electronic items because the cost of each item may be lower for their business. So in that regard the amount of capital that you need is going to be dependent on what type of business you own.

However, in terms of a time period, how much capital do you think is needed in order to start a business? In my opinion starting of a business is always a slow venture as you build up your customer base, and they always initial capital investment such up to pay off before you can start earning a profit. Therefore, I think that when you start a business you should have at least six to eight months worth of capital that can give you going through all this time in order to cover your operating costs and possible losses through this time.

What do you think will be a suitable time period that you should account for when starting up your own business?

Well capital time for a business which I heard from my elders and their experiences is three years. I know some of you would be surprised too. But let me explain why? My grand father says, first year is for your investment in business, 2nd year is to make customers and your name with low or sometime no profit. Then there comes third year to make a reasonable profit. I hope you get my point.

 

[BrolySSJ]

Well capital time for a business which I heard from my elders and their experiences is three years. I know some of you would be surprised too. But let me explain why? My grand father says, first year is for your investment in business, 2nd year is to make customers and your name with low or sometime no profit. Then there comes third year to make a reasonable profit. I hope you get my point.

I do understand the line along which were thinking and does make some sense however 3 years does seem like a bit of a long time. Would it not be possible to combine the first and second year so that you were able to work on your business investment and build a customer base at the same time? This will quicken the time that is required in order for you to sart making a profit as well.

 

[Zubair]

I do understand the line along which were thinking and does make some sense however 3 years does seem like a bit of a long time. Would it not be possible to combine the first and second year so that you were able to work on your business investment and build a customer base at the same time? This will quicken the time that is required in order for you to sart making a profit as well.

That's a good question. I would say when we are already in business and starting it in any other area, you don't need too much time to get success because you are aware of demands of the people. But when you are totally new in it, you don't know about the demands of the people, and in first year, customers demand you for those products and you try to avail them in your business place. So it ma take more than year because of low attraction but second year makes your customers due to availability of all the products, and gradually you appear as a successful businessman in third year.

 

[Zamaney]

Estimate your costs.
According to the U.S. Small Business Administration, most microbusinesses cost around $3,000 to start, while most home-based franchises cost $2,000 to $5,000. While every type of business has its own financing needs, experts have some tips to help you figure out how much cash you'll require

 

[BrolySSJ]

That's a good question. I would say when we are already in business and starting it in any other area, you don't need too much time to get success because you are aware of demands of the people. But when you are totally new in it, you don't know about the demands of the people, and in first year, customers demand you for those products and you try to avail them in your business place. So it ma take more than year because of low attraction but second year makes your customers due to availability of all the products, and gradually you appear as a successful businessman in third year.

This is why I am thinking that research is probably very important before you get into the business because if you have this research you are able to understand the demands of the people and how to utilise that demands so that it is the best for your business. Also during the research stage because you are asking so many people about your business you are also essentially marketing it as well which can help to make people more aware of what you were doing.

 

[Setfragil]

The most important thing before you venture into any business is the knowledge or experience you have for it. This will go a long way in determining when to start the business, either to start small or wait till you get huge capital to start it big. Also the type of business and the location you want to locate it matters a lot in determining how long you will start it.