How To Start A Business With No Money?

It can be exciting when you think of an entrepreneurial idea that you believe in. Starting your own business can lead to many opportunities; before you know it, you could be running a profitable business that patrons love! Still, to achieve this goal, you need enough money to get your business up-and-running. Many first-time business owners fail to gather adequate funds to start their business, leaving their bright ideas behind. Luckily, that doesn’t have to be the case for you!

In this post, we’ll explain a few ways to get the money needed to start your business. You might have to try a few of these ideas to attain the amount you need, but ultimately, these efforts will be well-worth it.


Start a crowdfunding campaign


Many businesses turn to crowdfunding communities like Kickstarter and Indiegogo to execute their ideas. So, if you have a business idea that you think has promise, start a campaign!

To do this, you’ll need to comply with the site’s guidelines, such as setting a fundraising goal, sharing your business’s story, providing a detailed timeline of how long it will take to start your business, among other information. If you really want to catch the attention of potential donors, consider providing rewards to individuals that donate a certain amount of money.

Hopefully, your idea will gain enough eager donors, so that you can earn funds to get your business up-and-running.


Borrow money from friends and family

If your pockets are empty, you can always turn to family or friends for assistance. Consider borrowing some money from them to get your business off the ground, and then pay them back once you’re in a better place financially.

If you have a family member that you think you could work well with, you might even consider asking them to be your business partner. This way, they can provide some financing for your business, but will have the benefits of being a partial owner.

Whether you borrow money from a loved one, or ask them to be your partner, you should consider the pros and cons prior to deciding. Some business owners regret asking a loved one for money, because it can create unwanted tension. Still, others swear by it, and wouldn’t have been able to start their business without help from their family or friends. Ultimately, you should do what is right for you and your potential business!

Start small

Majorly successful companies weren’t built in a day. Companies like Starbucks, Apple, and McDonald’s all started out as small ventures that eventually grew into household names. So, you might be discouraged if you have limited funds, but don’t give up hope just yet.


Start by creating a budget, where you determine what your nonnegotiable expenses will be. By taking this organized approach, you can gather enough funds to pay for your initial operating costs, and then invest in other initiatives once your business starts generating revenue.

Don’t quit your day job (yet)

If you’re an aspiring entrepreneur, but you’re currently working in another career field, don’t quit your day job just yet. You might be ready to move on from your current job, but if you’re low on funds, you’ll need the paycheck to begin your business. It might be wise to keep your existing job until your business is up-and-running. Once you start earning revenue from your business, you’ll hopefully be able to focus on this venture full-time.

Hold a garage sale

You might be surprised at the items laying around your house that you don’t use. Whether it is clothes that don’t fit, old electronics, books, movies or other items, you likely have some things that are worth value.

If you are serious about starting a business, but are lacking funds, try to sell things that you no longer use. More than likely, these items are just collecting dust, and the funds you earn will be better used when they are put towards your new business.

Apply for a business loan


If you’re in need of financing, consider applying for a business loan from an alternative lender.  This way, you can work with a lender, who can provide you with an amount and term that will meet your needs. To do this, you’ll need to research lenders that provide money to startups, as many do not. Still, don’t give up hope. We suggest starting your business with the funds you have, and apply for a business loan a few months after you’ve become operational. That way, you’ll likely meet the lender’s time-in-business requirement, and can receive the financing you need to continue growing your business.

Starting a business should be an exciting time. If your lack of financing is bringing you down, don’t give up just yet. The eight ideas mentioned in this post could allow you to collect funds, so that you can bring your business idea to life. Good luck!

About the Contributor

Katie Alteri is the content marketing coordinator at Fora Financial, a company that provides small business loans to businesses across the U.S.

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