According to Wells Fargo, it usually takes less than $10,000. The best book I ever read on how to STRETCH that money as far as possible is one by Arnold Goldstein called “Starting on a Shoestring”. There are 31 Used & New from $9.38 as of now.
From Wells Fargo:
Small business owners use an average of $10,000 to start their businesses, according to the latest Wells Fargo/Gallup Small Business Index study released by Wells Fargo & Company (NYSE: WFC). The new survey provides insight into one of the fastest growing segments in today’s economy.
While most small business owners would do it again if given the chance to start a small business, the Index illustrated key findings around the issue of start-up capital. Many small business owners started businesses with their own money, and with very small amounts. Seventy-three percent of business owners surveyed primarily funded their businesses with their own personal savings, while 37 percent obtained loans and lines of credit. More than half of those surveyed (53 percent) indicated they would have had an easier time had more money been available at the outset. The study also revealed a need for business knowledge and information. Only thirty-one percent of small business owners surveyed started with business plans. Forty-nine percent say they would have had an easier time had they asked for more advice from experienced business owners, while an additional thirty-nine percent indicated a better understanding of financial management would have been an asset.
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