If you have ever dream of running your own business but have no money, maybe this guide is your starting point. Being your own boss has its own perks privileges. A general idea about starting a business starts from having a hefty amount of money at hand. Whereas, many successful businesses, started from a penthouse, tell dramatic stories about their success. ” However, the truth is most of them started with little to no money!

Starting a business takes effort and years to be successful. Starting a business with no money is different from starting with no resources. Having more resources means the lesser amount you need to start a business. We mean intelligence, social circle, imagination, studies, knowledge and experience, time availability, and so on by resources.

There are countless legit reasons to start your businesses. The pandemic of COVID-19 has taught us a lesson of saving more and having a ‘backup’ should you lose your day job! If you have not yet started a business, this is probably the right time to do it.

8 Effective Tips To Start A Business With No Money

Well, now you might have an idea of what do you need to start a business. Now let’s read to find how you can start your your small business with no money.

1.Business Idea

Unless you have any idea at hand, you cannot start any business. There are so many ideas or say inspirations around you. Even a single phrase can trigger some good business ideas. For instance, you can think creatively about ideas whenever you hear ‘quick service’, or ‘customized’. You can tweak these ideas to create your own exclusive business idea. But keep your idea simple.

2.Devise A Business Plan

Well, we have touched on this aspect a while back. However, it needs more clarification. Your business plan is a roadmap to follow while running your business. Without a roadmap, you will be running blindly with no direction.
To have the right business plan make sure it is precise and specific. It should explain your business well and clearly. An ideal plan should be of a single line. That means it should be easy to understand. Your product or service should not be complicated.

A good business plan also has a simple budget. Okay, we know we are talking about how to start a business with no money. But some ideas will require some of the cash. Depending on your business idea, you need to see how much money you need and what resources you have to kick off your business. These resources can range from experience, time, partners, clients, etc.

And above all, you desire and determination to take action. Unless you are willing to take quick action, you cannot start your business at the right time.

3.Think About Financing:

When you have no money and need to start your business, you have to look for financing options. If you are really out of cash, you can think of only one thing: look for options to get funds. Be it from your friends, family, or financial institution such as a bank. However, you need to be mindful of this option. If you have already experienced in your field, then you can think of different financing options. Because when you are borrowing money, you are putting yourself under debt.

Although borrowing money from friends and family can seem attractive but not very recommended. You will never want to jeopardize your relationships over money matters.

You can consider small business funding opportunities from the government. The government offers various funding opportunities for startups to encourage them. This can be a good option for you to start. Or you can take a loan from banks and financing companies. But you have to be careful before signing the agreement because they charge interest as well.

4.Save Every Cost:

In case you find no other option, you can start your business online. The biggest benefit of starting your business online is to save on the cost. You can let go of unnecessary rents, services, and even salaries. Your internet can do much more than you think. It can be your sore, marketing tool, your mentor, in fact, everything.

Do tasks yourself whatever you can. This can be a good way to learn many new skills. The more experience you will have, the better entrepreneur you will become.

5.Get For Free, Whatever You Can:

Looking at the obstacle of no money is easy. Looking at the solution is difficult. If the idea of starting a business with no money scares you, it is important to focus on the things you can do without money. Focus on what is essential for your business; for instance, do you really need a website, or you can do the job using an FB page? Does it make more sense to design your marketing flyers on Canva yourself? So, when you carry out different tasks yourself, you develop multiple skills.

6.Have At Least 6 Months Saving In Backup:

It will not be an ideal situation to use your savings accounts. But you have to be honest with yourself about how much money you will spend. Also, how much profit you will generate. And then you have to analyze how long it will take to generate those profits.

In general, it takes six months to see the profits. So during those six months, you should have enough cash to meet your expenses. And you should focus on your business.

7.Sell Your Product Or Services To Your Family And Friends:

Your first market is the people around you. It costs $0 to market your services to them. You can reach them through WhatsApp, FB, or any other social media channel. Moreover, you can ask for their feedback to improve the quality of your product or service.

So, before selling your product to a larger audience, you will already be testing your product.

8.Take Advantage Of Angel Investors:

You must have heard about angel investors. Well, they are there for a good reason- when you need some cash to scale your business. Unlike financial institutions or other business capitalists, they are ready to give their own money. These are the investors from your contacts providing financial back to your business.

Biggest Challenges To Learn New Skills Along The Way

Lets’ accept one fact: while working for someone else, you don’t learn as much as you do while running your own business. Reason? While working with someone, you can have an excuse not to learn something. And send the work to the relevant; person. Whereas in your own business, you need to wear different hats. As well as you have to learn different skills to lead your whole company. When you learn new skills, you remain mentally sharp and active, which can positively impact you and your company.

1.You Become An Expert!

Your passion for learning more and more about your industry makes you an expert. In a full-time job, you have a very limited chance to do what you love and also be paid for it. Whereas, in your own business, you can learn what you love as much as you can and charge for your services.

You can take training and certifications and keep your portfolio up to date. When you showcase yourself as an expert and prove it, you attract more business opportunities. Moreover, depending on yourself only to grab those opportunities and not on someone else.

2.You Become More Determined Towards Your Goals

Running your dream business does not only take love and passion. Determination is the drive that keeps you going towards your goals. When you realize that you can do more and deserve more, you simply have to prove yourself. And when you do that, your determination takes you through all those tests successfully.

3.Respect Yourself

When you make decisions on your own, you learn to respect your decisions and yourself. As opposed to it, in a job, you might have at some stage put your self-respect aside and fulfill what your manager or boss says. No doubt, in your own business, you have to make some concessions, but it becomes your decision to do it entirely. You have no pressure to do it. You will know when and how to give concession and how much of it.That being said, the higher level of responsibility makes you respect yourself more.

4.Create Job Opportunities

When you have your own business, you need a team to run it. Being your boss means you create more job opportunities ditching unemployment. Moreover, if you want to work on an idea, you do it yourself and take the reward instead of letting your boss do it. When you find the right talent, you benefit your own company and provide a platform for others to have practical learning.

5.Bigger Financial Independence

Today, everyone is looking for some kind of financial independence in one way or the other. It is a dream come true. Financial independence does not come easy. You have to take risks. You have to make decisions on investment expenditures etc. But you will also reap the benefits of your risk and hard work. You don’t need to wait for the bonuses given your boss’s wishes.
You will be the owner of your financial success.

6.Creating Your Own ‘Brand’

When you establish your business and become an expert in your industry, you become a ‘brand’. Regardless of the industry, you have your business in; people start trusting you. They always look for someone to follow in a particular niche. So, if you have an idea and your boss does not approve of it, you simply lose a big opportunity.On the other hand, in your business, you have full freedom to test those ideas and lead from the front.

7.Freedom Of Self-Expression

When you are a brand, you have complete freedom to express yourself and your creativity. You will have the resources to bring your ideas into reality. You can take risks and hold yourself responsible for it entirely. And when your ideas strike the cords, the success and recognition are immeasurable.

8.A Legacy For Generations To Come

Your own business is a legacy for your children and then their children. When you pass, your efforts will not go in vain. You put the foundation, but your kids don’t have to go put in the same efforts. They only have to run a machine you created.This can turn into a family business that runs into generations. Apart from setting up a business for your kids, you can set an excellent example of handwork, passion, and determination.

Types Of Businesses You Can Start With No Money

Now you might be feeling motivated after knowing why you should start your own business. That’s great. But nothing comes easy. There will be many obstacles in your way when you plan to start your own business.

One of the biggest obstacles is having no money- or too little to start a business with. However, what if I tell you there are so many ideas you can try without having too much money? Not only this, but also there are many sources to seek funds for your business if it requires some money. In either case, money does not seem to be a good excuse. That being said, you can consider the following types of businesses that need little to no money:

1.You Can Provide Content

With the rise of the digital world, starting your business was never so easy. If you have no money, you can still make it happen by taking advantage of online platforms such as Fiverr or Upwork. These platforms provide works for skills such as writing, video editing, photography, artists, web designing and development, etc.

If you have these skills, you can start grabbing clients –for free. And then work for them. You can start by charging lesser rates. And then, with experience, increase not only your customer base but also your rates.

2.Selling Your Own Creations

If you are lucky to have a creative mind, you can sell it for a good amount. Your creations, such as your paintings, handicrafts, or even books, are a good way to start with. You can sell these on various online platforms such as eBay, Amazon, Etsy, etc. By selling your creations, you can make a good profit. And with time, you can add more to your inventory. Think about it!

3.Sell Your In-Home Services

Don’t you have tangible skills? No problem. Why not offering services to people within their homes? Yes. You heard it right. It takes zero money to offer your services. You can work in your neighborhood by offering them a babysitting service or pet-sitting services. If you love gardening and have a knack for it, you can offer them landscaping services.

Or, if your area gets hit by snowstorms, you can offer snow-plowing services. It is just a beginning. When you build relationships, you can increase your client base. Also, you can hire staff to fulfill these duties.

4.Skilled Labor Or Repairing Services:

You can serve as skilled labor in your neighborhood. And if you are passionate about your skills, you are lucky to start your business with zero money. For instance, if you are a carpenter or a handyman, you can cater to those homeowners who don’t know anything about home repairs.

This is similar to in-home services. The biggest benefit of these kinds of services is that they don’t need any physical space. It takes only you and your tools!


It is one of the rising business types that need little money. You might have to invest some of the amounts to purchase items to resell. However, it is still an affordable one. The concept of reselling is a simple one. You take or purchase products and then sell them to others. For this purpose, the dropshipping or wholesale method is best.

In a dropshipping method, you only have to take orders and place them forward to the manufacturer with keeping your commission in the price. And in the wholesale method, you will need money upfront, but you gain more control and money.

6.Consultation Services

Providing consultation services is another good way to start up your business with no money. Many people think unless they have years of experience in their field, they cannot become a consultant. However, if you are in your industry for some time, think about what you have learned so far.

Make your experience work for you further. Offer your consultation services. Startups and professionals usually hire consultants. You will time to invest in it. Once you establish yourself as an excellent consultant, you can expand your business.


You can start your own business through micropreneurship opportunities. Such as drive for Uber or Lyft or rent out a portion of your home through Airbnb.

8.Providing Concierge Services

One of the business ideas to start with no money is to provide concierge services. You will be surprised to know how some people are ready to pay someone for doing boring chores. For instance, grocery shopping, dry cleaning, doctor’s appointment, or even booking travel itineraries. It is like becoming a personal assistant to a super-rich person.

9.Research And Fact-Checking

Every major magazine or website is obsessive about fact-checking. They check and recheck facts in their archives. As it is a tedious task, businesses usually don’t keep an in-house resource for it. People offer these services to businesses on a freelancing basis. So if you have a laptop or telephone, you can offer these services. After all, there is nothing bad in putting in some effort to earn extra cash.

10.Bookkeeping And Accounting: An In-Demand Business Idea With No Money

Bookkeeping and accounting are highly in-demand services. Small businesses look for these services from freelancers. In this type of service, you need to carry out data entry and paying bills. You can get some online training to start with it.

11.Offer Services As A Property Manager:

This is another yet interesting business idea with no money. In this business, people help our small to medium-sized property owners or landlords manage their real estate. They take care of their estate and carry out various responsibilities, such as receiving calls from tenants, carrying out maintenance like landscaping, etc.

12.Affiliate Marketing:

Speaking of online business with no money, affiliate marketing is one of them. It can look similar to dropshipping. However, there are differences. In this, you don’t have an inventory to maintain nor have the responsibility to ship the products to customers.

You simply pick a profitable niche and find an affiliate partner having those products. You sell the products on your blog or e-commerce platform. Each product has its own link. When a potential customer clicks on the link, the link takes the person to your affiliate partner’s shopping cart. There you check out, and after purchasing, you get the commission on each sale. You need no investment in it.

13.Blogging & Display Advertising:

This refers to the ads on a website. These are pay-per-click ads that appear on a blog. When a visitor clicks on these ads, the website owner makes a few cents.

For this, you simply need a code from Google and put it on your website. And then, the ads will appear on your blog automatically.

Side Business Or Full Time?

Well, you might have heard the term ‘side business’ or ‘side hustle’. A side business is your business your run in addition to your full-time job. It does not make as much money as a full-time business makes. In its true sense, it is more about your development and personal growth. As well as about earning some extra cash.

A side business is a great opportunity to supplement your existing work. For instance, if you are working as a full-time content writer somewhere, you can start your blog. If you are working as an e-commerce manager, you can try selling products in your free time as a side business.

Regardless of the idea, the main point is to follow your passion without quitting your day job.

Why Go For A Side Business?

Here are some reasons to convince you:

  • Earn extra cash: the most tempting aspect of side business is to have more cash apart from your current salary. Your side business always has the potential of bringing you extra cash. This way, you can think about saving more. Or else, a good way to pay off your debts. You can also reinvest this money in your side business and expand it.
  • Improves Skills And Experience: no matter what your side hustle is, it always improves your skills and expertise. You can improve skills such as client communication, marketing, pricing, etc. You can apply these skills to your existing job and open ways of annual increment.
  • Test The Waters!: A side business is a great way to test a certain idea or market. Since you are not involved full-time, you get an idea of what to do and how to do it. And even if you lose, you are not entirely at a loss. You will have your full-time job at hand to go back to.

When To Turn Side Business Into A Full-Time Venture?

The biggest motivating factor to begin a side business is leaving a full-time job and working for yourself. However, you need to consider certain factors before turning making your own business a full-time job.

So, if you want to be a full-time entrepreneur, consider the following things before resigning from your 9 to 5 job:

*You Are Financially Healthy

Unless you have enough money in your account, this idea won’t work for you. This means you should have at least 3 to 4 months of rent in your bank and some cash to fill the gaps. Remember, your side hustle will not start making money from day one. You might also need a loan to start your business.

*Your Work Is Attracting More Clients

When your side business stats is gaining more attention, you can think of taking it to the next level. If your work or projects are increasing your workflow, this is the time to expand your business.

*You Know The Basics Of Running Your Business

When you don’t know how to run your business, you will screw up your business. You should be aware of the mistakes that fail young businesses. You should know overhead costs, pricing, growth plan, and trends in your industry. You should understand your market to take the lead and ensure a smooth transition.

Which Side Should You Go For?

Taking extra work for your side business is difficult, especially if you can dedicate weekends nights only. Do you think you have spent a considerable time running a side hustle? Do you think you should take more projects and grow financially? If yes, then you can start a full-time business.


If you are willing to take some risk and start your own business even with little money, go for it. Don’t wait too much for the right time because the right time is when you take action.

Now that you know how to start a business with no money, you should start thinking about some good ideas. If you have your day job and don’t feel right to quit at the moment, try a side hustle. Eventually, you will be experienced enough to build your business empire. Good Luck!

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