You have the idea – just not the money to get started. Here’s what to do.
They say money makes money – but there are some ways you can get around this when you’re looking to start a business with little or no money.
Here are five things to consider:
1. Borrow from family: Chances are there is someone in your family who has the means to lend you the money you need. It could be a parent, a sibling or another relative. The perks in this scenario are that you can usually negotiate when you pay them back – plus you won’t likely be charged interest. Just be careful that you do pay the cash back because you don’t want to ruin a relationship.
2. Save, save, save: Don’t have enough money yet to get started? Be patient! Putting away a little money every month or week is the best way to start a business – that way you don’t owe anyone. And all the money you make you can keep or use it to grow your business.
3. De-clutter to make money: Got clothes that you’re not wearing anymore, books you’ve read but can live without? Host a little sale and sell to friends and neighbours. If you don’t have stuff to sell, ask your mom, dad or a local business owner if you can clean up their cluttered storage space – like a storeroom or pantry. If you find anything that’s still usable and that they no longer want or need, ask if you can sell it. Hello easy cash!
4. Get it for free: Is there a rent-free space you could borrow from a family member or friend? Ask your siblings to help you with things, and in return you do their chores. If you don’t have supplies or equipment, think of something you could barter. A basket of wild spinach you picked could equal an hour using a neighbour’s sewing machine. Don’t be afraid to ask – all they can say is no.
5. Use word of mouth: Your friends and family are a great, free way to spread the word about your products or service. Ask your friends to post about your business on social media. Give family members small samples of your product or a free service, tell them to share and to tell all their friends and family.
You don’t need lots of cash to start a business. Be creative, think of new ways to save money. That way you can spend the money you make (no matter how little) for the things you absolutely can’t do without. That’s the stuff that makes your product or service great!
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Your thoughts
Family!family! Family! What if I don't have a family?
March 20, 2022, 8:04 p.m.
If u don't av family definitely u got frnds
March 20, 2022, 8:03 p.m.
all this examples are great
March 20, 2022, 8:02 p.m.
please I need an idea of what kind of business I can do as a teenager
March 20, 2022, 8:01 p.m.
Latest Reply
Hey Blessing! There are so many businesses that you can do but we cannot suggest one to you because you need to be passionate about the business that you want to do. So you need to think about what you are passionate about and work towards it. We hope this helps.
nice
March 20, 2022, 8:01 p.m.
.give me examples of wat i can engage mysef in?
March 20, 2022, 8:01 p.m.
pls me too i dnt knw wat buisness i can do
March 20, 2022, 8:01 p.m.
Latest Reply
Hey Morenikeji! There are so many businesses that you can do but we cannot suggest one to you because you need to be passionate about the business that you want to do. So you need to think about what you are passionate about and work towards it. We hope this helps.
Pls what can I do, I want to learn tailoring but my mum wants me to learn event decoration
I ENGAGED myself in many bussisness but find know one to suit my desire. Wt wys shld i folowined?
March 20, 2022, 7:59 p.m.
Latest Reply
Hey EMMIRYS! We have given you tips in the article above. Please read it and follow the steps. We hope this helps
Yeah, I'm kinda actually working on starting a little business just to kill time
March 20, 2022, 7:58 p.m.
Tnx alot...Big Sis
March 20, 2022, 7:58 p.m.
Exactly, big sister, one has to start from somewhere to get to the peak!
March 20, 2022, 7:58 p.m.
i am someone with a shy nature
March 20, 2022, 7:57 p.m.
I want to start a fruit juice business pls what should I do
March 20, 2022, 7:56 p.m.
Latest Reply
Hey peace! Thanks for the comment. That's great to hear. You need to find a way to get fruits that are ripe and also know how to store them. You also need to get a clean space (this can even be in your house) to produce the juice. You may also need to get a juice extractor or a blender (depending on how thick or how light you want the juice to be). Finally, you need to get bottles and find a way to package your juice. Please note that starting a juice business will require that you have money. We hope this helps
Big sis, I need more tips to make money
March 20, 2022, 7:56 p.m.
Hello big sis, I don't really know what I'm good at, please help..
March 20, 2022, 7:55 p.m.
Hello, big sis. I don't know myself can you pls help me
March 20, 2022, 7:55 p.m.
Latest Reply
yes ,big sis , I want to discover myself, please help me.
The first group of friends here were misty and fortune later on it was jbaby and cutie and fortune who changed her name to Paris 2 joined in. Now the new group of friends is besty an prince_jnr aka micheal usher. The thing all of them have in common is their closeness of age
March 20, 2022, 7:55 p.m.
Hello big sis..I just concluded on starting a hair product (hair cream).and my capital is just #5000..I was told by a relative to register my business with #15500 in C.A.C Lagos which I don't av..plz aw do I go abt it? Shud I carry on with my production without reg num or what? M confused!
March 20, 2022, 7:55 p.m.
i want to start a cloth business bt i dnt really knw how to get customers
March 20, 2022, 7:54 p.m.
Good evening friends...am bumper-this is my first time
March 20, 2022, 7:54 p.m.
Latest Reply
Hi Buper you are welcome.
Pls any good business ideas, please share thank u
March 20, 2022, 7:54 p.m.
Latest Reply
Hi how are you
You are right but what of those that doesn't have source of getting little money at all??
March 20, 2022, 7:54 p.m.
That's a nice one.
March 20, 2022, 7:54 p.m.
Guys , i love singing and I've been trying to open an anonymous YouTube acct but i don't just know where to start from because I'd need to learn an instrument . And i love guitars
March 20, 2022, 7:54 p.m.
Really want to run an open space restaurant,cause I can't afford to pay for shop rent now,just need motivation
March 20, 2022, 7:54 p.m.
Latest Reply
Ok what can we do for you
Hello a new here how is everyone doing
March 20, 2022, 7:53 p.m.