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How to Start a Business With No Money

Startup Launch

One of the biggest obstacles people face when trying to start a business is lack of funds. There are several start-up costs you have to consider to get your business up and running, but you can get established and start bringing in money quickly even if you don’t have much money to invest in your venture.

Start Online

Online businesses are flexible, and easy to start because they tend to be cheaper. You don’t have to worry about renting out office space or purchasing pricey equipment. If you offer a service that can be delivered online, or you can create a profitable digital product, you can establish your business without spending much at all.

Start with a free website or landing page so you can tell people more about your business and provide samples of your work. Then, market yourself for free on social media. You can also create an email list with Mailchimp which is free for the first 2,000 subscribers. Once you secure a few orders/clients, then you can invest some of your earnings back into your business to grow it.

Start as a Side Hustle

You may be under the impression that you don’t have enough money to start or sustain a business full time and that might be true. However, consider starting your business on the side of your full-time job so that you don’t have to take such a huge financial risk.

This is one of the best ways to start your business without giving up your steady paycheck right away. You can avoid using loans and credit cards and slowly funnel money from your day job income into your business. This process may take longer than if you had the money upfront, but it offers fewer risks.

Insource As Much As Possible

When starting a business, some of your start-up costs may involve paying other people to do things for you. Instead of outsourcing those tasks, you can insource and do as much as you can on your own if you don’t have the money to hire someone.

My business started as a blog, and I followed a short tutorial that showed me exactly how to set up my website. To this day, I still do my own email management, digital and email marketing, and I send my own invoices and fill out my own profit/loss statements each month. Insourcing may involve learning new skills but it can save you a ton when you want to start a business with little or no money.

Get a Loan or Borrow From Others

As a last resort, you can consider taking out a personal or business loan or even asking friends and family to borrow money to start your business. Borrowing money from others isn’t necessarily exciting, but before you consider this option you want to make sure you have a clear and specific business plan along with a clear plan for paying back the funds. Make sure both parties agree on the repayment terms and get it in writing. If you’re planning on taking out a loan, check your credit beforehand to make sure it’s good enough to land you a competitive interest rate.

Do your research, get clear on the mission of your business, define how your business will make money, and be honest about how much you truly need to avoid borrowing too much. Also, be sure to keep your day job in the beginning so you can pay back the money you borrow if it takes a while for profit to start flowing in.


Starting a successful business can be risky and difficult, but it’s not impossible even if you don’t have a lot of money. If funds are low, focus on minimizing costs and funneling in money from your day job or savings first before you consider taking out a loan or borrowing from family.

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Debt Expert and Financial Writer
Choncé Maddox is a debt expert. She helps ambitious millennials and Generation Z get our of the mounds of debt they are in following college. In 2015 she realized she couldn’t afford to do her own laundry, she was so broke. She had to make a change. Over the next three years she personally tackled $50,000 in debt and became debt free. She teaches others her passion since.

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