Findings from a new study on start-up businesses released by Wells Fargo indicate that you really don't need a lot of money to start most businesses.
The Wells Fargo report found that the average start-up financing for the new businesses they surveyed was $10,000. The study also finds that 73% of start-ups were fully self-funded. These findings are consistent with previous surveys that generally find that start-ups began with about $7,000 - $10,000, and that self-financing was used by 70-85% of all start-ups.
Hi Jeff
Have been lurker on your blog for quite a while, enjoying your insights, observations and resources you've highlighted! I like having an academic perspective on this exciting experience called entrepreneurship.
I thanked you today on my new blog, The Entrepreneurial MD, for raising my awareness about this study. I hope to stay in touch and share more of your words with my audience of entrepreneurial physicians.
Warmly,
Philippa