What's The Minimum Capital Needed To Start A Reasonable Business? - Business - Nairaland
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| What's The Minimum Capital Needed To Start A Reasonable Business? by gbeborun(m): 7:46pm On Feb 09, 2007 |
Just keen on having my own business along side my current job. Fellow nairaland users, what in your opinion is the smallest amount needed to start. Although i know that it partly depends on the type of business. But i'm talkin on an average level. Thanks |
| Re: What's The Minimum Capital Needed To Start A Reasonable Business? by LoverBwoy(m): 8:22pm On Feb 09, 2007 |
even on average level it depends on the type of business you want  |
| Re: What's The Minimum Capital Needed To Start A Reasonable Business? by naijacutee(f): 10:24pm On Feb 09, 2007 |
I was just going to say that, Loverbwoy.  If you wanted to go into pure water business on a basic level, you won't need more than =N=100. If you want to go into department stores, you'll need a few millions. . . so it depends |
| Re: What's The Minimum Capital Needed To Start A Reasonable Business? by gbeborun(m): 11:10pm On Feb 09, 2007 |
thanks and very sorry for my ignorance. What about an upscale boutique and departmental store (supermarket if you like!) |
| Re: What's The Minimum Capital Needed To Start A Reasonable Business? by naijacutee(f): 4:29pm On Feb 10, 2007 |
Well, I don't know how much these things cost, actually. Since it's your vision, I guess you have to do some legwork and specifically find out the costs of starting up your business venture. I guess you will have to take into account even the smallest detail as it gets easy to overlook things that look minute but mean a lot. Things you'll have to take into account are : Renting/leasing/building your store Electricity, water (whether it's a borehole, well etc) Inventory Any registration you might need to practice Telephone connection/rental Shop furniture (Display racks, carpeting, tills etc) Shop office furniture (Chairs, Desk, Computer, Fax machine, Printer, filing cabinets etc) Employees - You should be able to pay employees until you actually start making profit. This might take a few months. . . Etcetera. I wish you all the best |
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