My thoughts:
If you can't, or don't want to. come up with $2776 from your own resources to do a startup, may I suggest that you are not yet ready to be in business?
Reserve float for transactions: $2000 (1500bitUSD and about 5500ZAR)
Banking account holding fees for 1 year: $120
Website hosting with SquareSpace for 1 year: $96
Gmail for business for 1 year: $60
Google adwords for year: $500
Total: bitUSD 2776
This is a super good point, its the first thing any venture capitalist would ask.
I have invested the majority my savings in Bitcoin and Bitshares. Which are currently heavily under water so I would really hurt myself financially to sell right now.
My day job is also a start up (bricks and motor though) and there is no salary there as we are all invested a property development project which will become ready for renting early next year. So no salary for me till then.
I am already in business for a number of years now and am therefore competant, its is just a case of seed money.
I would love to just put in my own cash as this would mean that I am not in any way accountable to anyone else which would be very relaxing. Unfortunately I just dont have the cash.
I am sure this is something you could understand, right?