How Much Money Do You Need to Start a Business?
Add comment May 14th, 2009 09:55am Stacey Derbinshire
Many entrepreneurs are curious whether or not they can afford to start a business.The answer is yes, provided they take some time to do learn how to do things themselves.Find out what some of the typical costs are for starting a business.
A question I get asked frequently is how much money is required to start a business.It’s probably on e of the toughest questions to answer because there are so many variables involved. My usual answer is that it takes anywhere from a couple hundred dollars to several million.Why such a wide margin?Well if you are interested in opening a manufacturing plant such as a solar manufacturing company, it’s going to take millions of dollars.On the other hand, if you are planning to open a pool cleaning service it might only take a few hundred dollars.Let’s take a look at some of the variables of starting a business.
Technology
Obviously if your business is going to be online you will have technology requirements that where you will either need expertise or money to outsource.But even if your business is primarily offline, you will need to have some online presence via a website or blog. Let’s assume you sell products or services and need a 5 to 10 page website in the beginning.Here are the costs involved:
- Website development will be anywhere from 1,000 to 2,000 and maybe more.It just depends on what you need.One thing to keep in mind, however is that if you have some time, you can buy some really cheap, good looking templates and create the site yourself.It just takes time and a lot of patience during the learning process.If you can get by with creating a blog, the process using WordPress is extremely easy and they have tons of plugins you can add for additional functionality.Make sure you explore this option to see if you can use the technology.
- Domain name fee (more…)
