5 Ways To Start A Business Without Capital

5 Ways To Start A Business Without Capital

With little help from a seemingly stagnant unemployment rate and recent graduates flooding an already meek job market, job seekers are left with little to no hope for securing stable positions. However, the returning trend of “Mom and Pop” businesses has given many job seekers a way to control their own fate, even without having the start-up capital.
Here are some tips on how to start a business without money in the bank:

1. Partner Up.

Determine your business’s niche or specialty and develop a partnership with an already existing company that your business can compliment. For example, a graphic/web designer can align itself with a marketing company to enhance packages for potential marketing clients.

2. Outsource.

If working with tangible products, a start-up can eliminate the need for capital by outsourcing their products on a per-use basis. A company can wait until their product is purchased and then use that money to then manufacture the product.

3. Offer A Service.

A great way to start a business without any cash flow is to open a service-oriented company. Consultants and brokers have little need for office space and even less need for manufacturing products, leaving them with a company based solely on their expertise.

4. Angel Investors.

Sift through your network looking for financial backers who can help start your business. These investing enthusiasts tend to have a love for promising small business ideas and can often help an entrepreneur get on his/her feet.

5. Group Funding.

Group funding websites such as Kickstarter and Chipin.com have made themselves quite valuable in today’s “Mom and Pop” market. With a short profile video describing your business idea and fun perks for potential donors, entrepreneurs have a platform to raise funds without giving up control or percentages of their business.