How much capital did you use to start your business?

by nimble_fox. Posted on Sep 13, 2020    4    13


How much capital did you use to start your business?


How much capital did you and your partners (if applicable) use to start your business? You can include financing if that also was a part of your start up capital.

Comment below if you would like to explain what it was for or how you spent it.


Vote Button Poll Options Current Vote Count
Vote $0 9 Votes
Vote $1-$1000 12 Votes
Vote $1,001-$10,000 6 Votes
Vote $10,001-$50,000 14 Votes
Vote $50,001-$250,000 7 Votes
Vote >$250,000 0 Votes

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Comments

madkungfu 2

$18k Laptop, legal fees, some expensive software and salary for one month. Industrial automation.

  nimble_fox 1

But can it run Crysis?

Thats awesome

85north 2

I’m looking break into industrial automation as I did that as my last job for 2 years and really enjoyed it. Can I pick your brain ?

Stoic-Chimp 4

Exactly 1 USD. Knowledge based business

  nimble_fox 1

What exactly does that mean? Consulting?

Stoic-Chimp 1

Private tutoring, but sort of a brokerage service

CHR1ST00 3

20k working capital returned at the end of 12 months, was drawing wage at month 3.

  nimble_fox 1

That's awesome, was the working capital primarily inventory?

CHR1ST00 1

No, it was just capital for funding customer orders. I had to pay my suppliers before my customers paid me on 90 day account. The key to succeeding is good margins

  nimble_fox 1

I get this, when we started we were cash up front with our suppliers and net 30 with our customers

Bekolina 4

We started with about 20k and then invested an extra 10k about 3 months in and another 5k about a month after that, and it was mainly on stock and staff costs. We wanted to grow fairly quickly to start with and we could have waited to get our first 20k back without expanding but it made more sense to invest the extra 15k and have the growth there and then. The first 20k obviously covered a lot on initial investment items like storage and website design etc.

  nimble_fox 1

You started with employees right away or very early on? Very cool