Although many small business owners mistakenly think that they need money in order to make money, it is actually quite possible to start a business without funding. Here are some of the ways that you can create a business of your own without much starting capital.
If your business falls under certain criteria, then you may be eligible for grants from many organizations who are looking to utilize the private sector. Make sure that you call your local small business regulation authority in order to become aware of all opportunities that may be available for you to use government or angel investor funding.
Many of the functions of business that money helps out with can be paid for in sweat equity; that is, simply doing it yourself. Although you may take more time to administrate and operate your business on your own, a startup consultant with an online bachelor of business degree says doing so will save you a lot of money. There are many free tools online, including automation and operational software packages that can help you to simulate an administrative assistant and a marketing department until you are able to afford a real one.
There is no substitute for getting out into the real world and testing a prototype of your product on real people. You can also do this online if you are dealing with a digital product. If this testing is done for any money is put into the marketing campaign, you may actually be able to generate word-of-mouth from the street level. This will give you an influx of orders, and you can begin your business based on receipts.
If you have all the hardware that is taking up space in your home, you may be able to take out a loan that is secured by that hardware. If you are not able to obtain any other kind of funding, this can be a great way to give yourself some leverage until you can generate some sales from your product. It is also a great way to use old hardware and assets that would otherwise have no use for you because of the age or the condition of the product.
There are always new options for business owners being created in the new, exciting digital space. The options above will definitely get you started on the right foot, but always keep your ear to the street for new opportunities that may be available.