LOS ANGELES, Feb. 20, 2019 /PRNewswire-PRWeb/ -- Public perception is a little out of line with reality when it comes to startup businesses. Yes, there are a few companies in Silicon Valley that sold for billions of dollars. Everyone from the owners to the first employees made millions. However, what about the rest of the startups in the US? How much money is needed to launch and sustain a new business in the manufacturing or the health services industries?
The overall findings of the survey indicate that the industry significantly impacts how much money is needed to start and sustain a business. For example, in the healthcare industry, the median startup cost is between $50,000 and $99,000, whereas in the manufacturing industry the median startup cost is between $25,000 and $49,999.
The study highlights the startup capital needed for companies in the following industries: utilities, oil and gas extraction, agriculture, real estate, rentals and leasing, management of companies and enterprises, arts, entertainment, recreation, information, educational services, transportation, warehousing, wholesale trade, finance, insurance, construction, professional services, administrative services, manufacturing, food services, retail trade, health care and social assistance.
The report also indicates that the vast majority of new businesses fund operations through a combination of personal savings, bank loans, and credit cards, all depending on the industry.
The report breaks down each industry by the most overrepresented sources of startup capital, median startup costs, number of establishments, total employment and the five year survival rate.
To read the full report by Seek Capital click here.
About Seek Capital
Seek Capital is the leader in startup business funding and small business loans. Launched in 2015, Seek Capital has helped solve the challenge of early-stage business owners obtaining capital to launch or grow their small business.
The company has grown by combining the Seek Capital proprietary lender matching platform, Capital Seeker®, with its dedication to providing a hands-on, consultative approach to each client. By utilizing the Capital Seeker® the company is able to provide real-time underwriting decisions allowing business owners to instantly know their funding options.
To date, the company has matched over 20,000 successful applications across the United States. Seek Capital has an A rating with the Better Business Bureau, is a consistent Top 3 rated or Winner of LendingTree's Lender Award and was Ranked #44 by Glassdoor Best Place to Work 2017. For more information, visit Seek Capital.
SOURCE Seek Capital
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