What type of money do an entrepreneur need in other to start up a business ?

Blessing Inyang

When starting a business, entrepreneurs need to consider the various types of money required. First and foremost, there is startup capital, which includes funds needed for renting or purchasing office space, buying equipment and inventory, paying for licenses and permits, and other essential initial expenses. In addition to this, entrepreneurs must think about operating costs, such as employee salaries, marketing expenses, utilities, insurance premiums, and rent or mortgage payments. Having a contingency fund is also crucial to cover unexpected expenses or bridge financial gaps during slow periods. Moreover, entrepreneurs might seek external financing sources like loans from banks or government grants to supplement their own funds. Finally, it is advisable for entrepreneurs to have personal savings as a safety net in case the business encounters difficulties initially. Hence, understanding these different types of money and having a comprehensive financial plan in place are key elements for successfully launching a new venture.

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Mandu Udoh

Every entrepreneur needs a good start up capital.

Esther Williams

•Start up capital for
•Shop rent
•Purchase of goods
•Funds for setting up the business and necessary registration
When starting a business, the entrepreneur should try to avoid using a loan for the start up

Ruth Zaccheaus

Good start up capita

Asuquo Okon

Capital and planning


communication, empat

Gift Uke

unexpected expenses

Esosa Ogiugo

Determination is key

Christian Njoku

Practice self-care.

Ekaette Asanga

An entrepreneur needs a startup capital for funds and renting of office space etc

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