Can you start a business with £25k?

[ProseccoSupernova]

No idea what yet but any inspiration would be amazing! Was thinking perhaps a franchise (not a MLM). I have marketing experience but am out of touch with many new ways of doing things (digital/social). I could spend some on a course to update my skills but definitely don’t want to be a freelance marketer! Any success stories would be particularly appreciated!

Well, of course you can, but usually people would start with the business idea.

You can start a business with £1k or even less. You need to have an idea and a business plan though.

You don't need much at all to start a business. I pretty sure dh didn't spend more than about 2-3K, and he's now bringing in over 100K a year 7 years later. But it does take good business skills, a business plan, and knowing the numbers you're working with so you know what you're getting yourself into. Also, I think digital marketing and social media skills are absolutely critical.

I started a business with nothing but my car and an ad on gumtree.

I guess it depends what type of business as to how much set up costs are or if you're a shop, how much the stock will cost you upfront maybe and whether you need to rent premises etc....

What type of business is it?

I always wanted to start my own business but never had the 'idea'.

Mine happened during lockdown when I had more chance to do something I loved, then realised I could make a business out of it.

I want my business to stay small and flexible and have set it up with £1k. I would like to develop my workshop space but am waiting until my business has made more money before I reinvest it.

I am very happy to not be employed and love what I do.

I started my business in March with nothing but my car and a bunch of Facebook posts as promotion.

It all depends on what you want to do!

Depends on what you want to do, it's a how long is a piece of string situation. You can start on a lot less, or nothing or need loads more depending on the idea.

I started my business 5 years ago with no money whatsoever. Me and my friend registered as a partnership and we make approximately 40k a year which we split. So no, it doesn't set the world on fire but we don't have to do an awful lot which suits me 😀

So this all depends on the business idea you have.. before you think money, think what it is you want to do