6 types of companies that you can start with little money

Who does not dream of starting his own business? Unfortunately, there are probably dozens of obstacles to stop you. Maybe you do not have enough motivation, too little time or you have no idea or great product until now.

If that’s not the case, then at the latest the moment you realize how much money it costs to build a business – money you do not have.

However, there are several ways to borrow money so you can get exactly what you need. So money is not a very good excuse to start your own business. In addition, there are some types of companies for which you need almost no money.

However, there are several ways to borrow money so you can get exactly what you need. So money is not a very good excuse to start your own business. In addition, there are some types of companies for which you need almost no money.

What you need to build a business

Your first step should be to find out what it takes to start a business – and which ones cost a little.

Planning: Of course you have to set up a financial plan. If you can do it for yourself, it’s even free.

An enterprise license: If you think about a partnership or cooperation, you need to do some paperwork. But probably it will not cost more than a few hundred dollars, depending on the licenses you need. If you cannot do it alone, you can turn to offices that will help you find out exactly what you need and what it will cost.

A domain name: You should invest early in your online brand. Although I recommend that you make it as professional as possible, you can reduce the effort to a minimum. Often, a memorable domain name is everything you initially need to define your brand. You get a domain name for about ten Euros (if you find one that is still free). I use “Go Daddy” to buy domains.

A website: Nowadays, programs that allow you to build your own website are free. The whole thing only costs you time. I recommend a simple program for the beginning, such as “WordPress”.

Marketing: While marketing has a reputation for being particularly expensive, there are a lot of really effective tactics that only take your time. Social media marketing, SEO and content marketing are all in this category – and, frankly, everything you need. If you need support, you should get the “Guide for Online Business”.

Domestic equipments: The equipment, an office and other tangible assets are true money-eaters. However, not every company needs that – some do not need it at all.

Products: Every company wants to sell something. But that also means that you have to invest in advance. But many services also work with a time investment rather than a money investment.

Which types of companies can therefore be raised in the upper areas without great financial burden?

1. Personal creations

There are personal creations, such as the arts and crafts. For example, you can sell your work if you are an artist. This only costs you the materials and time used. Platforms like “Etsy”, “eBay” and “Amazon” make it easy to make a profit from your work.

2. Offer services from home

Offering your services does not cost you any money in advance because it is immaterial goods. Also, if you work in other people’s homes or in your neighborhood, you do not need your own office. For example, you could offer to run dogs, take care of children or help your neighbors with snow shoveling.

3. Services for which you have the necessary skills

If you have certain abilities, you can use them to ensure your income. For example, if you are a craftsman, you can do repairs to homeowners of whom you have no idea.

Again, you do not need your own space and you do not have to invest much, apart from the tools or equipment you need for your work.

4. Consultation

Many workers only think about building a business after years of experience themselves. Think about your area and ask yourself how much you can learn in which time. Company founders may be grateful if they can pay you for your experience. Counseling is a service that only costs time, but can bring you a lot of money.

5. Resale

The idea behind resale is simple: you buy products and sell them to other people. You can use drop shipping or wholesale to purchase these goods. If you use third-party shops, the goods are delivered directly from the producer to the customer. You make less profit for it, but you need almost no money to build this service. If you use wholesale as a method, you need a lot more money and space, but you have more control and you can earn more.

6. Mini-entrepreneurship

Of course, you can also combine your own small business with other options. You can for example go for a service like Uber or rent your house via AirBnB. That’s how you make money with things you already have.

After starting your business and earning income, starting capital will not be a problem anymore. You can reinvest the money from your earnings or use it to grow your business.

I hope that you now realize that you can build and startup a business with no money. You can even start one without investing any money. You just have to know which type of business works best this way.

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