How to Start Your Own Business When You Have No Money
There are millions of people who can be classified today in the country as small business owners. If you ask them many of them would answer that they like being their own boss which is why they got into business. Having their own business means that they are the one calling the shots in their business. They dont have a boss to submit to that is why they enjoy full freedom in the conduct of their business.
It could be that you are also longing to be able to get out of the rat race and command your own future by having a business of your own. It is a fact that most businesses would require start-up capital in order to be started but there are things that you can do to be able to start a business even with no cash. Below are some suggestions that you can take on how to start one with no money.
1. Choose a Business That Doesnt Require Cash or Requires Low Cash Only
If you are willing to search hard for it you can a lot of example of businesses that dont require money or just a few money only. You will find some of these business ideas below.
*Door to door car washing
Get Investment Money From Friends and Family
Another way to get business funds is to pitch your business idea to family and friends and have them invest in it. Now this idea is not for everyone. If your family and friends believe in your business idea as well and you have shown them a detailed plan on how you will make it successful then you may get money from them. But you have to use well the seed funding that they are willing to give to you so that your relationship with them will not turn sour.
Find Commercial Loans
Now if you dont want to bother your friends or family for investment money then the next thing that you would have to do is to take out commercial loans for your business. When one talks of commercial loans there are many that you can choose from. In this article we will show you some sources of these commercial loans.
Banks and Credit Unions
This is usually the choice of many people when it comes to commercial loans. If you want this option then you need to research about their interest rates to see which one is the most favorable for you.
Online Commercial Lenders
Among the things that one can do now online one of those is getting a loan. There are companies online that give loans to people.
3. Peer to Peer Lending
These are the loans that are garnered from the money of everyday people.