How to Start Your Own Business When You Have No Money
There are millions of small businesses that are now registered across the country. There are many who choose to do so because they see that there are more benefits to having ones own business than working a 9-5 job. With a business of their own they get to set their own path and call the shots. They have no boss to answer to so they are in full control of how they want to run their business.
Now you maybe dreaming of leaving your desk job and being in full control too by putting up your own business. It is common knowledge that when you start a business you often need a lot of money to begin with but you can still start one even if you have no cash in hand. You can read further to find out what these things are.
Pick a Business That Requires Zero to Little Cash Only
There are many business ideas there that you can take and act upon that do not require any money to begin with. Below are a few examples of those.
*Door to door car washing
2. Borrow Start-up Money From Family and Friends
Another thing that you can opt to do if you really believe in your business and you need money to get it rolling is to ask of it from your friends and family. This route is of course not for everyone to take. If your family and friends believe in your business idea as well and you have shown them a detailed plan on how you will make it successful then you may get money from them. You just need to prove to them that you will really take good care of that start-up capita that they lent you.
Find Commercial Loans
Now if you are uncomfortable about the idea of turning your family and friends into investors then you need to search for commercial loans. Now when it comes to commercial loans there are actually different sources of it that you can apply from. In this article we will show you some sources of these commercial loans.
1. Banks and Credit Unions
There are many who choose to get commercial loans from these institutions. If you are going this route then you need to know about the interest rates that they charge and make a comparison of them.
Online Commercial Lenders
There are many things that you can do on the internet today and one of those is to take out a loan. You can find these online companies that give out loans.
Peer to Peer Lending
These are the loans that are garnered from the money of everyday people.