Pixabay – CCO Licence

One of the best ways to take your personal and financial life into your own control is undoubtedly to start your own business where you are in charge. However many people do not feel able to do so because they do not have a huge pot of savings they can use to fund their fledgling company.

Today, I want to let you know that it is possible to start your own business on even the tiniest of budgets, providing you want it enough, and below are a few tips to help you do that.

Look for a low-cost business

It’s pretty obvious, but if you’re looking to start a small business on a shoestring, then choosing a company that doesn’t require lots of expensive equipment to mountains of office space, for example, is sensible, Things like dog-walking and accounting, which require little more than insurance and marketing to get started are sensible options, for example, which you can scale and grow as you start making money and have the funds to so so.

Consider a franchise

Whether you want to how to open a tax office or start your own food truck company, one of the simplest ways to get into business is often by purchasing a franchise, which can often be done for under $1000. You’ll get all of the basics you need to get things off the ground, lots of helpful hints and tips, and an established brand name that will help you grow your own business fast.

Crowdfunding

If you have a great business idea, but you don’t have the money you require to get it off the ground, write a business plan, film a proposal and put it up on a crowdfunding site where anyone who is interested in your idea can pledge you some cash in return for various incentives or the finished product. As well as being a great way to fund your business, crowdfunding sites can really help you to see if there is an actual market for your stuff before you sink your time and money into it, which is always a bonus.

Rent what you need

If you do need various equipment to get your business up and going, renting or buying used is a great way to save money and hopefully get your company off the ground. You don’t have to pay thousands of dollars for machinery or office equipment upfront, you really don’t.

Use social media

If your marketing budget is zero, then get yourself on social media and start being funny or interesting or otherwise shareable in some way. Build up a following and then start mentioning your amazing products and services and you should be able to pick up at least a few clients to get you started that way.

As you can see, it is perfectly possible to start a business on a budget, but it will take some ingenuity and a lot of dedication on your part, I wish you every success!