The easiest way to start a business with no money is to sell your services. Start by identifying the things you know how to do better than most people. “Since you don’t have the capital yet, start with the things that you have, like your experience, knowledge, skills, and resources you own,” says Kei Nishida, owner of Japanese Green Tea Co. Many startups fail because they build something no one is interested in.
Validating your idea is essential when learning how to start a business with no money. Editorial Note: We earn a commission from partner links on Forbes Advisor. Table of Contents. Bottom Line. Frequently Asked Questions (FAQs).
Big Companies, Humble Beginnings
Here are some giant companies that started with almost nothing:
- Start your business while keeping your job.
- Start a business that builds on your current skills.
- Learn new skills to help you start a business without money.
- You can start a service business without money or credit.
- Create a professional website for your business.
Financing and Bootstrapping a Business
One way is getting others to fund your idea by approaching partners or investors. Real estate is one arena where many started with none of their own money. Planning includes determining the capital you’ll need. It’s possible to start with little or no money, but doing so can test creativity and commitment.
Key Takeaways:
- Starting a business with no money is challenging, but not impossible.
- Exploring financing options and ways to bootstrap a business can help raise capital.
- Borrowing may be possible but consider if it’s affordable based on revenue projections.
FAQs and Business Ideas for 2023
What’s the easiest business to start with no money? There are plenty of home-based business ideas you can start with no money in 2023. Package your skills and resources into a service business, such as: Freelance writing.
Can I start a business with $0? Many businesses with low overhead costs can be started on a shoestring and then scaled up. If you want to get started for less, here are a few businesses that are relatively easy to begin with a small amount of capital:
- Freelancer: Any freelance business comes with low overhead, such as freelance writing, graphic design, web development, or software coding.
How much money does it take to start a business? According to the U.S. Small Business Administration, most microbusinesses cost around $3,000 to start, while most home-based franchises cost $2,000 to $5,000.
By age 25, you should have saved about $20,000. Looking at data from the Bureau of Labor Statistics (BLS) for the first quarter of 2021, the median salaries for full-time workers were $32,656 each year for workers ages 20 to 24 and $46,852 per year for workers ages 25 to 34.
Should You Start a Business with No Money?
There are advantages and drawbacks to starting a business with no money. Here’s what to consider:
Pros:
- You’ll have no financial obligations and total control over your business
- There’s little risk involved
Cons:
- It can limit growth and scaling
- Harder to hire, purchase inventory, advertise
You can start a service business with practically no money. Instead of money what you need is the ability to knock on doors and make sales. Use the service business to finance your dream business.