In my opinion seeing a site similar to yours its called competition, and may not be a problem.
It's all about being the best in that field, or the most known, it's almost impossible to be the only one doing any kind of business, so if you see a similar site just try to make yours much better.
Money will always be an issue, think about your business as an investment.
There may be a lot of reasons for giving up on (or maybe changing) your project:
If people just don't like it at all, or no one uses your product or service maybe you have to start thinking about it.
If you are confident about your idea and passionate about your business, you should never give up because of competitors or money issues.