How much money do I need to set up a business?

When estimating your startup costs, it’s crucial to conduct thorough research and create a detailed business plan that outlines all potential expenses and revenue projections. This will help you determine how much capital you’ll need to get your business off the ground and sustain it until it becomes profitable.

Keep in mind that securing financing through various sources, such as personal savings, loans, investments, or grants, can help cover your startup costs. Additionally, you may be able to reduce initial expenses by starting small and gradually scaling your business as you generate revenue and gain traction in the market.