How to Start a Business with Little or No Capital

How to Start a Business with Little or No Capital

How to Start a Business with Little or No Capital


So you’ve got this awesome business idea but it’s difficult to gather funds…business people face this problem every time. Although it’s true that a team of venture capitalists or a family member with large money in their bank account can make starting a business easier, still not having money shouldn’t be an excuse. If you have the motivation to start a business, alongside with a great idea and an incredible determination to succeed, you can start a business with little or no capital. You don’t need a miracle, but you need to follow certain steps to successfully start a business with little or no capital.

One key thing you should always have in mind is that if your idea and plan of implementation aren’t well planned from the beginning, no amount of money can turn it into a front-runner. If you are sure that you have a product or service people want, don’t allow the lack of capital to discourage you from your business goals. By being relentless, getting creative, and making yourself unique, you can make your way to a successful business. Funding isn’t always necessary. Following the few basic rules in this article makes starting a business with almost no money entirely possible. This start a business with little or no capital tips can help you get your idea off the ground with partial funds.

1. Start a service business

Alongside that amazing business idea of yours, you can start a service business. The money you make can then be used to sponsor your dream business. To start a service business you virtually need no money. The plain skill needed here is your ability to knock on doors and make sales. To start with, here are 22 service businesses you can start today.

  • Affiliate marketing – you don’t need to own the product. You earn commission from selling other people’s products.
  • Amazon reselling – in this case, you may or may not own your own product. You sell on Amazon’s platform.
  • Baking – why not turn your passion for baking into a side business.
  • Buy and sell domain names you don’t have to sell a domain name for millions for turning it into a successful business.
  • Disk Jockey (DJ) – if you have the skills, love to party, and can work on weekends, this should be a good job for you.
  • Ebay sales – This is similar to reselling on Amazon. You may or may not own your own product. You can make a lot of money from this.
  • Ghostwriting – There are people out there who would pay a ghostwriter to write articles, projects, and so on for them. If you enjoy writing, then you should consider doing this to raise capital for your business.
  • House painting – A lot of people out there don’t have the time to paint their own homes. If you’ve got the skill, don’t hesitate to throw yourself out there. You can earn a lot of money doing this.
  • Instagram marketing – Register for an Instagram account. Study what’s trends at different times. Grow your fan base. A lot of businesses would pay you a lot of money to advertise their products to your fan base.
  • Interior designer – a lot of people would hire interior designers to work on their homes. If you have the skill, you can make a lot of money doing this.
  • Mobile hairstylist – If you have hair styling skills, why not make money offering this service to people?
  • Mobile make-up artist – Many people want make-up artists to visit them before big events, such as weddings.
  • Mobile laundry service – You can make money by doing this.
  • Mobile mechanic – If you understand a car engine, then you can make money being a mobile mechanic.
  • Modeling – If you love doing this, then why not get paid to do it? There’s a lot of money to be made in the modeling industry.
  • Music instructor – teach music and earn money from it.
  • Personal chef – if you enjoy cooking, offering personal cooking services might be a great way for you to earn extra income.
  • Website designer – there’s a lot of money in this business if you have the skills.
  • Web development – If you have the skills, throw yourself out there. A lot of web developers out there are making big money doing this.
  • Wedding/Party/Event planner – If you can do this, then get paid to do it.
  • Wedding photography – There’s a market out there for wedding photographers. You can make money doing this.
  • Weight loss consultant – being a weight loss consultant is a good way to earn money. If you have the skills, then dive into it.

2. If you have a Job, don’t quit it

Starting your business in your spare time is the best. Do not quit your job unless your project is able to pay your salary. If your business doesn’t work out, you will still have your job. If it does, the transformation to being your own boss will be less risky.

See Also: 6 (Six) Ways to Raise Start-Up Capital for a Small Business

3. Get customers to pay you upfront or at worse, half upfront, half later

This way, your costs are always covered. One thing with starting a business with little or no capital is that you should always make sure you get paid fast. That should help you generate income faster. You can get paid fast in various ways:

  • Ask for at least 50% payment upfront.
  • Offer incentives.
  • Meet your clients in person if they are local.
  • Send invoices at least once a week.
  • Get your customers to pay with a credit card or electronic bank transfer.
  • Get rid of customers who are chronic late payers.
  • Set up automatic payment.

4. Build your business on the skills you already possess

Instead of venturing off into uncharted territory, why not build your business on your skills and knowledge? The less you have to rely on outside sources, the better. When your business is built on your own personal expertise you can eliminate consultants and outside assistance. What can you do that someone else might be prepared to pay for? Can you make clothes, paint and decorate, programming a computer, speak Italian? Do you think you can turn your hobby into a business? If you have a skill that other people don’t, or would need to invest time and money into while learning, that immediately puts you at a big advantage.

5. Get help

You can’t do it all alone. Nobody can. If you are starting a business with no money, you will need all the help you can get. Asking for help can help you in several ways:

  • Some people in your network might be entrepreneurs who could give you some pointers about starting your business.
  • You could find a co-founder. A lot of successful businesses are not started by one founder. With two or more founders you will also improve your chance of success. Tell people in your system that you are looking for a co-founder. Work with someone you trust. It’s a bit like getting married.
  • A friend, family member, or coworker could teach you skills you don’t have and you might even find a free office space.

6. Do all the work yourself

Do everything yourself. Return all income earned straight back into the business. This way, you will be able to build up enough cash assets to finance in new kit or buildings, and so grow the business.

7. Use the free tools around you

Grow a website for little or nothing using an online website builder such as, or Get social and promote your business spending very little. Try signing up for Twitter, or create a Facebook page, and join LinkedIn.

To be successful in business isn’t about starting with a lot of money. It is about implementing the right approach, thinking your way around problems, and having the willpower to put the effort in and give it your best shot. What are you waiting for? Don’t let inadequate resources prevent you from taking a great idea and running with it. Will it be difficult and will you have some stressful situations? Of course, but that is part of entrepreneurship. Have you started a business with little or no capital? Then, let me know about your experiences in the comments section below.

See Also: Still Growing? Top 9 (Nine) Small Business Mistakes You Should Avoid

Sleak Entrepreneur | Financial Consultant | Blogger


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