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What Are the Best Tips for Starting a Business with No Money?

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  • Written By: B. Miller
  • Edited By: Andrew Jones
  • Last Modified Date: 30 November 2016
  • Copyright Protected:
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    Conjecture Corporation
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Starting a business with no money is certainly a challenge, but it is not impossible. The best way to go about doing this is to make a list of your absolute necessities for starting a business, and attempt to brainstorm creative ideas for obtaining the funds for these necessities. Then, try to take advantage of free business opportunities as much as possible; social networking, for example, is a prime opportunity to advertise your business for free. Another possibility is to approach people who might want to invest in your business, provide sponsorship in exchange for advertising, or even become a business partner.

It takes creativity and determination to go about starting a business with no money, though this also depends on the nature of the business. Some home based businesses, such as writing and editing, telemarketing sales, or data entry, don't require much other than a computer, phone, and reliable Internet connection. Others, such as medical or legal transcription, might require a certification program before being able to get work, but it may be possible to get a loan for this program. Personal or small business loans might be a good option for people who are starting a business with no money, if student loans aren't available for additional education.

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Other people might want to start a business to provide a specific service, to sell a developed product, or to even start a larger company such as a restaurant or hotel. These are just a few options of the larger businesses that will require more funds to get started. In this case, it might be necessary to look for investors or for people who want to provide sponsorship to the business. Advertising is often used in exchange for sponsorship. For people who are starting a business with no money, especially a larger business, it will often be necessary to pursue business partnerships. Ideally, these people will have additional funds to invest in the development of the business, and will then have an influence in the way it is run.

When starting a business with no money, it is also important to take advantage of every free opportunity there is. Social networking and web sites offer many opportunities for advertising a business for free. It may even be possible to build a web site for a business on a free hosting site, though some hosts do not allow this so be sure to read the terms of agreement. If not, it does not take much to purchase a domain name and build a web site for the business that way.

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