Can You Start a Business with Savings?

[Spencer]

Starting a business with Savings is dicey depending on your income level, if you're a low income earned, it will take you a long time to be able to save anything tangible that'll enable you to save money that'll be enough to start a business, most times you'll have to use a loan.

But if you're determined to start with your savings and you're willing to be patient with it then it's possible, savings can be augmented with grants and also family and friends donations, when starting a business it's important to start with zero debts because nothing is guaranteed in a new business.

 

[Highs]

You can start a business with your savings infact so many people did. It just depends on the kind of business you want to start, this will determine the amount you want to be saving and how long you are going to do that too. When you establish your business with your savings, it's a good thing as no bank, family, friends or any institution will come running after you to pay their money or lose your properties or licence. This will give you the peace of mind to make the right decision and channel back your profit into your business for growth and significant expansion. Savings is the best way to get capital for your business but it will only happen if you plan well.

 

[Mika]

Well, I started my business with my savings. I invested money to build a blog and then add a store on the blog. Now I make money from my blog from ads as well as by selling digital and physical items. If you have managed to build savings, that the best way to start a business. You can even start investing from your saving if you do not want to start a business. Actually, I managed to grow my crypto portfolio by saving crypto that I earn form various websites