How much

[Tiggy]

Hi All

Would anyone like to share how much 'start up' money they used to launch their business and keep it going through the early days before the millions started rolling in?
T :D

[Top Hat]

Started with £800

Our deepest hole was about 1 year later, when cash flow was at its most difficult, probably around £10K (mainly invested in stock), with some of that on the credit card.

[JoyDivision]

Top hat did you find a job and become misserable? Is that why you decided to run your own business? Or did you mind you own business knicking some lead of the holy name church while kissing under the iron bridge.

Sorry I am just a bit of a Smiths fan :D

I am hoping to setup my business with about £500.

[Jayne]

£37,500 it cost us for our first business.

Jayne :D

[mumper]

Same as Top Hat, about £800.

[free0870numbers.co.uk]

Around £500 for my first business. From then on I have just used profit to pump into new ideas.

[c4l]

Jayne - can i just ask - where did you get £37,500 from? Bank loan??

[MinuWeb]

I started my first hosting company with $400 and sold it 2 years later for $175,000 I then used that to finance my current businesses

[William Wilson]

My photography business cost £20k to setup on photographic equipment and post processing suite.

[Tiggy]

Thanks all

this thread is very interesting, though i do say it myself!

T :D

[clickprofits]

I started my first hosting company with $400 and sold it 2 years later for $175,000

Impressive!

[MinuWeb]

I started my first hosting company with $400 and sold it 2 years later for $175,000

Impressive! Not really, I worked the equivalent of 4 years in terms of hours put in during those 2 years.

[weddingcrafter]

I started with about £500 for stock and £50 for website but had to invest approx £4k after a year when I moved out of the back bedroom into a business unit and took on an assistant.

Already had PC, printer and phone.

[multilingual]

My first business venture (plant hire) was started in 1992 with about £4000, which I saved up whilst working away from home living in an old caravan for 9 months!

Needed more investment so started taking out finance on newer machinery about 1 year later, ended up after 8 years with assets worth about £400,000 (most of it on borrowed money)

Nearly had a nervous breakdown with the stress. Many sleepless nights worrying about making the repayments. :cry:

Sold that business about 3 years ago. My wife was a freelance translator and wanted to expand her business so I came in to help. Started out with a £500 PC, one phone and two desks from MFI.

Turnover now going through the roof, house paid for, no debts, new cars, no more sleepless nights.

Wish I had met her 15 years ago!! :D

JB

[gary]

About £500 for startup - initial site design was done by me, so most of the money was stock and advertising. It's paid for itself since then, though of course as you progress there are office and warehouse costs, staff, technical and development expenses, and so on. Now that £500 only lasts a couple of days!

[JoyDivision]

Hopefully I can manage on £500 but the multimedia side of my business requires some very expensive software so I will only invest in that if I can get customers for it.

Luckily I have used it at university so I know how to use it.

[bwglaw]

Started with £0! Had a part-time job on the side for a short while. Started as a partnership in Derby. Moved to London and was appointed Director for a charity and ran the business on the side. Left my post as Director and went full-time to MD. Now CEO of Hands On Group comprising of 3 companies. Still some way to go yet. Looking for potential Directors at the mo!

[Ozzy]

I borrowed £15k on a bank loan, had £10k in savings, and borrowed about an extra £25k on credit cards.
In June 2003 was maxed out all cards, spent all loan, and only had £2k left in bank. Was about to go bust.
Turned it around and paid off all debts in November last year ;)
Glad to say the company is debt free and moving on, but June 2003 was the real test of my faith in my business, and am glad I stuck with it!

[Jayne]

I borrowed £15k on a bank loan, had £10k in savings, and borrowed about an extra £25k on credit cards.
In June 2003 was maxed out all cards, spent all loan, and only had £2k left in bank. Was about to go bust.
Turned it around and paid off all debts in November last year ;)
Glad to say the company is debt free and moving on, but June 2003 was the real test of my faith in my business, and am glad I stuck with it!


Just like us...but don't you find, you are twice as chuffed when you've beaten the odds :D

Jayne

[MarkPearson]

I am just starting my personalised rose business(Roses By Design)

I have £3K but am looking for a further £3K of investment in return for 20-30% of shares.

I have a full business plan.

So anyone thats interested get in touch.

markpearson1980@aol.com

Mark