How to Start a Business with No Money

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How to Start a Business with No Money

Do you have an idea for a business but no money to invest? If so, you’re not alone.

Many people have great ideas but don’t have the funds to start. Thankfully, that doesn’t mean you can’t start a business. There are plenty of ways for an entrepreneur to do it with little or no money. Here are some tips on how to start a business with no money.

Ways to Get Funding for Your Business

Later on, we’ll look at some business ideas that require no upfront investment at all, whether it’s your money or someone else’s. But if you have a specific business idea and need to find the money for startup capital, here are your options.


Crowdfunding has become a popular way to raise money for all sorts of causes and projects, including businesses. With crowdfunding, an entrepreneur can solicit donations or investments from a large group of people, usually through an online platform.

There are several types of crowdfunding, but the most common for businesses is rewards-based crowdfunding. With this type of crowdfunding, backers give you money in exchange for a reward, such as a product or service your business will offer.

Another option is equity-based crowdfunding, in which backers receive equity in your company in exchange for their investment. This is more like traditional venture capital investing and is generally only used by businesses that are further along and have already proven themselves to some extent.

The advantage of crowdfunding is that it allows you to raise money from many people without going through traditional channels, such as banks or investors. It can also be a great way to build buzz and excitement around your business before you even launch.

The downside is that it can be difficult to reach your fundraising goals, and you may not raise as much money as you need. Additionally, rewards-based crowdfunding means you’ll have to deliver on whatever rewards you offer, which can be challenging if things don’t go quite as expected.

Incubators and Accelerators

Another option for funding your business is to apply to an incubator or accelerator program. These programs provide mentorship, resources, and sometimes even funding to help businesses get started and grow.

There are incubators and accelerators for all sorts of businesses, so you should be able to find one that’s a good fit for your company. The application process can be competitive, but it’s worth checking out if you think you could benefit from the resources and support these programs offer.

Friends and Family

One of the most common ways businesses with low startup costs are funded is through friends and family.

The advantage of this option is that you usually won’t have to give up equity in your company. You also won’t have to dedicate the time and effort required by other methods of finding investors or lenders. Additionally, these loans can often be less formal than ones from a bank or another lender.

Of course, borrowing money from friends and family can also strain your relationships. It’s important to ensure you’re prepared for that before you go down this road. If your business idea fails and you cannot repay the loan, it could damage your relationships beyond repair.

Small Business Loans

If you have good credit, you may be able to get a small business loan from a bank, another lender, or the Small Business Administration (SBA). The advantage of this option is that you’ll likely get more money than you would from friends and family, and you won’t risk damaging your relationships.

The downside is that you’ll have much less flexibility, and the interest rates may be higher. Additionally, the application process can be time-consuming and bureaucratic. You may not be approved even if you have good credit. Getting a bank loan for a startup usually isn’t easy. You’ll likely have to provide a personal guarantee (which means you’ll be personally responsible for the debt if the business can’t repay it).


Grants are available from various government agencies and private foundations to help businesses get started. But be aware that business grants are not very common, and they’re hard to get.

These grants usually come with certain requirements, such as being a member of a disadvantaged community, being located in a specific area, or serving a certain population. The application process can also be very time-consuming.

Find a Partner with Money

One way to get around the issue of not having any money to start your business is to find a partner with money. This can be a great option if you have complementary skills and a good fit between you and your partner.

Of course, this means giving up some control and decision-making power over your company, as well as part of the equity. You’ll also need to make sure you’re on the same page with your partner about the direction of the business and that you trust them implicitly.

How to Start a Business with No Money

Now, let’s look at the steps you can take if you’re ready to start a business with no money or with capital acquired through any of the above methods.

1. Build Up Your Savings

If you’re serious about starting a business, you’ll need to start saving up. This will give you a cushion to fall back on if things don’t go as planned and will help ensure you have the resources you need to get your business off the ground. Even if your new business is going well, cash flow can be an issue. With some business models, you won’t get paid immediately, so you’ll need that cushion.

The more savings you have, the longer you’ll be able to go without making any money from your new business. And the more time you have, the better your chances are of success.

2. Create a Business Plan

One of the most important steps in starting a business is creating a business plan. This document will outline your business goals and strategies and your plan for achieving them. A solid business plan is essential for attracting potential investors and lenders, so if that’s the route you plan to take, this step is necessary.

If you’re not sure how to write a business plan, don’t worry. There are plenty of templates and online resources that you can use as a guide.

3. Don’t Quit Your Day Job… Yet

If you’re starting a business on the side while you still have a full-time job, it’s important not to quit your day job until your business is up and running and generating enough income to support you.

Quitting your job too soon can put unnecessary stress on your business and make it more difficult to succeed. It’s important to have a Plan B in case things don’t work out as you’d hoped.

With certain types of businesses, this may not be possible. But most online and service-related businesses can be started part-time to reduce risk and stress.

Starting part-time also helps financially. You can use the income from your day job to cover your living expenses, which allows you to reinvest everything you’re bringing in through the business. In turn, this allows a successful business to grow faster.

4. Vet Your Business Idea

You may have what you think is the best business idea in the world, but that doesn’t mean it will be successful. Before you dive in headfirst, it’s important to do your research and make sure there’s a market for your product or service.

As part of the vetting process, you’ll want to talk to people who fit the profile of your ideal customer or client. Ask questions to gauge their level of interest in your product or service. If you get enough data that shows demand for your business idea, the people you’ve talked to may wind up being your first customers, so it’s a really helpful way to get started.

5. Take Advantage of Free Resources

When you’re a bootstrapped business owner, it’s important to minimize expenses in any way possible. There are a lot of helpful free resources available, from online business plan templates to library books to volunteer entrepreneur mentors from SCORE.

Regardless of what type of business you start, you’ll need a brand identity, including a logo and brand colors. The free brand kit generator from HubSpot is an excellent resource.

Utilizing these resources can save you a lot of money and help you start on the right foot without breaking the bank.

6. Create a Minimum Viable Product

Instead of trying to create the perfect product or service from the start, focus on creating a minimum viable product (MVP). This is the bare-bones version of your product or service that you can get out into the market quickly to test demand.

Creating an MVP doesn’t have to be complicated or expensive. It could be as simple as a landing page to gauge interest in your product or service. Or it could be a basic version of the product you sell at a discounted price.

The important thing is to get something out there quickly so you can start collecting data and customer feedback. This will help you refine your product or service and increase your chances of success.

7. Be Willing to Put in Sweat Equity

If you’re short on cash, one of the best things you can do is put in some sweat equity. This means working on your business for free without taking out any money.

This can be a great way to get started if you have a solid business idea but no money to invest. Be willing to work hard and do whatever it takes to succeed.

8. Focus on Generating Revenue

One of the most important things you can do when starting a business with no money is to focus on generating revenue from the start. This will help you attract investors (if that’s something you want to do) and show that your business is viable.

Generating revenue quickly will also help reduce your financial risk and improve the chances of your business succeeding through the first year or two. This goes hand-in-hand with creating a minimum viable product, as that’s often the best way to start generating revenue quickly.

There’s also a psychological benefit to making money quickly. You’ll have more confidence in your business, and you’ll gain motivation to keep pressing forward.

9. Leverage Your Existing Network

As you’re looking for your first customers and clients, your existing network is an ideal place to start. These people know you and (hopefully) already think favorably of you.

Reach out to your family, friends, neighbors, and anyone you know, and tell them about your business. Ask if they’re interested in what you’re offering or if they know anyone who might be. You may be surprised at how many people are willing to help you, especially if they believe in your product or service.

10. Focus on Free or Low-Cost Promotion

When starting a business with no money, it’s important to focus on free or low-cost promotion. There are many ways to do this, including word-of-mouth, social media marketing, content marketing, and search engine optimization (SEO).

All of these strategies can be incredibly effective when done correctly, but they do require some time and effort to get started. But once you start seeing results, they can be well worth the investment of time.

Going back to the previous point, it won’t cost you anything to start talking to people you already know. And if you can get them to spread the word about your business to potential customers, that’s even better.

11. Reinvest as Much as Possible

Once you start generating revenue as a small business owner, it’s important to reinvest as much of that money back into the business as possible. This will help you grow quickly and reduce your financial risk. If you’re not reinvesting in the business, it will be very difficult to grow.

Types of Business You Can Start with No Money

Using the ideas and tips covered so far, you may be able to find an investor, loan, or grant that allows you to start your business. But if you’re not interested in that and want to start a business that requires no upfront expense, here are some ideas.


One option is to start freelancing. This can be the perfect business if you already have some skills that others are willing to pay for. And there are many ways to get started, such as through online platforms like Upwork, Fiverr, and Freelancer. You can also approach businesses directly and offer your services.

Many people use freelancing to transition into starting their own businesses. Once you build up a base of clients, you may be able to quit your day job and focus on your business full-time.


Another option is to start a consulting business. This can be done in many industries and usually requires no upfront investment. Instead, you simply need to find clients and provide them with the services they need.

The experience you already have may be very valuable as a consultant. Think about the work you’ve done through your current and past jobs to see what you can offer.

Many consultants start working part-time and then transition to full-time as their business grows. This can be a great way to get started without having to quit your day job right away.


If you’re passionate about a certain topic, you may be able to start a podcast and generate revenue through advertising and sponsorships. This can be a great option if you enjoy talking and sharing your knowledge with others.

To get started with this online business, all you need is a microphone and some recording software (Audacity if free). You could use an existing laptop and free software, so there’s no need to spend money to start.

As your audience grows, you may be able to attract sponsors or run ads on your podcast. This can generate significant revenue and allow you to eventually make a full-time income from your show.

YouTube Channel

Alternatively, you could start a YouTube channel. This is an excellent way to share your passion and generate revenue through advertising, sponsorships, and affiliate marketing.

To get started, all you need is a camera and some editing software. You can use the phone or laptop you already have, as well as free software. There’s no need to spend money on expensive equipment as a beginner.

Online Publishing

Launching your own website will cost some money, although it can be done for less than $100. But if you’re looking to spend no money at all, you could start by writing on Medium, which is completely free.

Once you start making money on Medium, you can use those funds to launch a niche website or start a blog. This is a very low-cost online business idea that provides virtually unlimited income potential.

Create Online Courses

If you’re an expert on a particular topic, you may be able to create an online course and sell it for profit. This can be a great option if you have knowledge that others are willing to pay for.

And to be honest, you don’t have to be a true “expert” on the subject. As long as you have more knowledge than the people buying the course, you’ll be able to help them. With that in mind, you could create a course based on a hobby if you’d like.

Your course could be sold on your own website, but it costs some money to set up a site. If you want to spend no money at all, you can offer your course through a platform like Skillshare or Udemy. These sites already have existing audiences, and course creators can start making money without the need to invest or build their own sites. (It’s still a good idea to create your own site for your course later, once you’re making money.)

Graphic Design

If you have experience or interest in graphic design, you may be able to start a business with no money by offering your services to others. This can be done through online platforms like 99designs or Fiverr.

These sites allow you to create a profile and list your services. Once you get started and build up a portfolio, you may be able to attract higher-paying clients.

This can be a great way to get started without any upfront investment since all you need is a computer and some software, which you probably already have. And if you’re starting on a platform like Fiverr, you won’t need to spend any money to get started.


Another option is to start a photography side hustle. This can be done with very little investment, as you probably already have a camera and some basic equipment if photography is your hobby.

This is a great option if you enjoy taking photos and are looking for a creative way to make money. You may already have some photos you could submit to stock photography websites or sell as prints through sites like Etsy and Redbubble.

Social Media Marketing

If you’re good at social media, you could start a business by helping others with their own social media accounts.

You could offer your services directly to businesses. Many companies are looking for help with their social media presence, and they’re willing to pay for it.

This is a great option if you’re already familiar with social media and have a large following. It’s also a low-cost way to start a business. All you need is a computer and an internet connection.

Virtual Assistant

Another option is to become a virtual assistant (VA). This is an ideal business if you’re good at administrative tasks and are looking for a way to make money online.

Virtual assistants provide administrative support to businesses and entrepreneurs. They can answer emails, manage calendars, manage social media accounts, etc.

And best of all, it’s something that can be done entirely online around your existing schedule.

Self Publishing

If you’re a writer, you may be able to start making money with no money by self-publishing your work. It’s also extremely flexible. You can do the work whenever it fits into your schedule, and you can work from home, at a coffee shop, or wherever you are.

Thanks to Amazon’s Kindle Direct Publishing (KDP) platform, it’s easier than ever to self-publish a book. You can upload your book directly to Amazon, and they’ll handle the printing and shipping for you.


Another option is to start a business using print-on-demand (POD) services. This business model is ideal if you want to sell physical products but don’t want to deal with the hassle of manufacturing and shipping your own products.

There are many POD services available, such as Printful. With these services, you can create your own designs and have them printed on t-shirts, mugs, phone cases, and more. The POD service will then handle the printing and shipping for you.

You can sell your products through your own Shopify website or platforms like Etsy. And best of all, you don’t need to invest any money upfront, as you only pay when someone makes a purchase.

Cleaning Houses

If you’re looking for a hands-on business that doesn’t require an upfront investment, you could start a home cleaning business.

All you need to get started is basic cleaning supplies, which you may already have. And you can start by advertising your services on online platforms like Craigslist or by word-of-mouth.

Once you get started, you may be able to attract regular customers and build up a solid reputation as a reliable and affordable house cleaner.

Lawn Care and Mowing

If you enjoy working outdoors, you could start a lawn care business. This is a great option if you have basic equipment like a lawnmower and an edger.

Again, you can start by advertising your services on online platforms like Craigslist or by word-of-mouth. As you make some money and reinvest in equipment and tools, you’ll be able to take bigger jobs that pay more.

Dog Walking

Another option is to start a dog walking business. This is a great option if you love animals and are looking for a way to make some extra money while exercising.

You can start by advertising your services on online platforms like Rover, using local bulletin boards, or reaching out to pet owners you already know.

Handyman Services

If you’re handy around the house, you could become a handyman and offer your services to others. This is an excellent option if you have experience with home improvement projects and are comfortable working around other people’s homes.

You can start by advertising your services online or by word-of-mouth. And as you get more clients, you’ll be able to expand your business by hiring additional help.

Final Thoughts on How to Start a Business with No Money

Starting a business doesn’t have to be expensive. There are many businesses you can start with little-to-no cash, and we’ve laid out how to start a business with no money.

So if you’re looking to become your own boss but don’t have much money to invest, consider one of the options above. With some hard work and dedication, you can turn your small business into a success.

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