There isn't a specific amount you need to start a record company but you ought to have a business plan which is sustainable in the long run because the music industry is constantly evolving with advancements in technology and how people consume music nowadays.
A business without a sure strategy to generate revenue is definitely gonna tank real hard. Almost anyone can start a record label. It's not rocket science just like setting up a new company. The challenging part is turning a new company into a reputable business.
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