How to Start a Business with No Money: The Complete Guide

You Don’t NEED a lot of Money to Start a Business

When we think about starting a business, one of the first things to come to mind is usually MONEY.

We want to start a business to MAKE more money - but we also think it costs A LOT of money up front to start a business.

And it definitely does,

BUT if you're smart about it, you can start a business with NO money.

Benefits of Starting Your Own Business

Will it be easy? No

Will it be worth it?

Well, does:

• Flexibility,
• Creative freedom,
• Personal satisfaction
• Unlimited income potential
• (And a bunch of other benefits)

...sound worth it to you?

The answer is likely yes.

Everyone has had a business idea come to mind at least once in their life, but not everyone actually takes that leap and puts that idea into action.

A big reason for this hesitation? Funding.

If that's you, and you dream of becoming a business owner, but you're scared to try because you think you need crazy amounts of money to start - I'm here to tell you that you don't.

If you've read this far, something in you wants to make it happen. For real this time.

Keep reading to find out how to start a business right now with...

• Zero experience
• Zero connections
• Zero ideas
• Zero money

And with a whole lot of grit (and all the best insider tips and tricks)

It’s Going to Take Some Time (and some HARD work)

Now, be warned: This is going to take some hard work. It won't happen overnight - making a quick buck is NOT the same as building a business that can sustain and last.

If you’re looking to get rich quick, this article is not for you (and neither is building an actual business)

But if you’re ready to roll up your sleeves, build something awesome that you can be PROUD of, and reap the rewards for your efforts?

Well, then keep reading - because I'm about to show you exactly how (step-by-step) to start your dream business with no money…

First, you’ve got to know what you’re getting into –

The pros and cons of starting a business without any funding:

Pros & Cons of Starting a Business with No Money

Let's look at the Pros:

1. You’ll have TOTAL control over your business.

You won’t be accountable to shareholders, lenders, family or friends because you wouldn’t have borrowed any money

2. There’s not a lot of risk involved.

If the business works out – great, you gain a LOT from it.

If it doesn’t, you won’t lose out on a huge investment.

3. You have a real shot at achieving your dreams regardless of what financial situation you’re in right now.

That is incredibly inspiring, and you can feel proud knowing you’re taking your future into your own hands, even if it is hard at first.

The Cons...

1. You’ll probably have to run things by yourself at first.

With capital, you can hire people to help out, whether freelancers or employees. But until you start earning some money, you’ll have to fly solo.

2. Growth might be slow.

A bit of capital goes a long way in kick starting your business’ progress.

You’re going to need to be VERY patient.

3. You’ll miss out on some opportunities.

You won’t have built up inventory / supplies and your website will likely be very basic

You’ll have to make the most of a “bare bones” marketing approach, and it’ll require you to be very strategic.

Finding a FREE Business Idea (That’ll Make You Money)

Now, first thing's first, you’ll need an idea – a good one.

And in your case, a “free” one; one that doesn’t require capital to start.

Let’s brainstorm with a little activity…

Grab a sheet of paper and a pen (yes, you have to do this by hand – your creativity will thank you). Try to do this when you know you have 15 - 20 minutes where you won’t be distracted or interrupted.

Split your page into 3 columns.

And in each column, write the following lists:

• List #1 - 10 Things You Enjoy Doing Involving Some Form of Work (singing, painting, writing, coding, helping people etc)
• List #2 - 10 Ways You Could Put Your Work Out There (making an online course, an online website, a real life shop, a series of books, videos, face-to-face classes etc)
• List #3 - 10 Business Ideas Based on Lists 1 & 2 (eg teaching people how to paint, an online artsy furniture store, an errand service for people etc)

Don’t overthink too much – just jot down ideas as they come. It doesn’t have to be perfect, by any means - and you might not even find your big idea the first time doing this, and that’s okay.

This phase is the same as the first draft of anything – it will probably suck. It’s just to get ideas flowing and start thinking.

If you’ve tried it a couple of times and you STILL don’t like any of your ideas (dont be hard on yourself, all ideas are good ideas) here are some ideas…

Low cost business ideas you could start right now, with no money:

Freelance Writing:

Write content (anything from blogs to web content to social media posts, brochures or even ebooks) for businesses and publications.

Virtual Assistant:

Offer admin services to busy people; they might ask you to make phone calls to their suppliers or customers, plan meetings and events, schedule their calendar, book travel for them, draw up documents / spreadsheets / presentations, or even manage databases.

Social Media Management:

Help businesses promote their products and services with content on social media platforms like Facebook, Instagram, LinkedIn, X – even TikTok. You can also manage their communities by interacting with their followers.

Graphic Design:

Design aesthetically pleasing, eye-catching designs for marketing materials like posters, brochures, packaging, logos or even social media.

You can offer your services to agencies looking to outsource design projects, and even businesses themselves.

Tutoring:

If you have patience and a lot of knowledge in a certain subject or topic, you can teach others about it by tutoring.

You can do this virtually, in your home, do home visits, or even meet in coffee shops & libraries.

Bookkeeping:

This is a tedious and time-consuming task that most business owners don’t have the time (or the WANT) to perform - and they are usually more than happy to pay someone else to do it for them.

You can reconcile bank accounts, draw up income statements / balance sheets and tidy up general ledgers for other business owners.

Home organising:

Yes – there is an ACTUAL market for this right now. You can help clients sort through their clutter and tidy up for them to have a clean and organised space – and some people are willing to pay very well for the peace of mind that comes with an organised home.

You’ll visit their homes, come up with a strategy to get rid of unnecessary / unwanted things, and come up with a neat and tidy way to store and organise the things they want to keep. You might do the whole house, or even just a room or two.

Photography:

This is a great way to express your creative side, and is an especially affordable option if you’ve already got a camera / do photography as a hobby.

You can offer diverse services or even niche down and specialise in something like family photos, professional headshots, or maternity shoots (for example).

Dropshipping:

This is when you sell things without buying inventory. It seems complicated at first, but we’ve put together a simple guide on how to start a dropshipping business.

Basically, a customer will pay retail price for an item from your online store, then you’ll send their order to your supplier (paying them the wholesale price) – you keep the profit.

These are just SOME of the many business opportunities out there that don’t require crazy amounts of capital to start. You can use one of these ideas, or one of your own.

Once you’ve got an idea, something you have to consider is…

(you might not like this)

Don’t quit your day job

When you think of starting a business, it might be tempting (very tempting) to immediately quit your 9-5 and go all in on your business.

As a concept, it SOUNDS like it’s a great idea – and you’ll feel great.

But…

It is SO risky; especially with little to nothing in terms of funds available.

So, it’s a good idea to keep going at your job - at least in the beginning. Focus on your business in your free time – evenings and weekends, and whenever else you’re not at work. Your business can still grow and thrive as a side hustle.

This way, you won’t have to live off your savings or credit cards. Plus, having a steady income will actually allow you more flexibility in your starting-up stages of business.

Then, once your business is up and running and you’re confident you’re making enough to cover your business expenses and comfortably live, you can work less hours, or even quit.

In the beginning, it’s just a good idea to keep that stability in your life, especially if funding is already an issue. A side hustle approach to business is your best bet here.

This applies if you already have work, but if you don’t, you can go full-sweat and hustle hard, with full focus on your business in the beginning.

Then, once you've got your idea and you've gotten real with yourself about how you're gonna go about this...

You need a business plan

This part can get pretty technical and overwhelming and you're proooobably going to be BOMBARDED with buzzwords online and… it's a lot – and it's definitely a turn-off for many people thinking of starting a business.

Which isn't a good thing. Starting your own business could quite literally change your life, not to mention how massively it'll benefit your community.

FREE One Page Business Plan Printable

We WANT people to start businesses - and for their businesses to THRIVE.

Which is why we've made this FREE one page business plan template

If that's not your cup of tea and you're a more hands-on kinda entrepreneur

we've got something pretty cool to show you…

The 4 Sticky Note Business Plan

You read that right.

An ENTIRE business plan, fully thought out – in just 4 sticky notes.

PERFECT for the ambitious entrepreneur with ADHD,

The budding founder with a dream in their heart, working on it in bits and pieces after work,

or the busy parent trying to change things for the better, in between day to day chaos at home.

Whoever you are

Wherever you're at

It's worth a shot

And here's how it works:

This is a business plan exercise created by a Canadian Entrepreneur named Colin C. Campbell, but it can be quite confusing and full of terminology that is hard for people with no business background to understand.

We’ve broken it down A LOT to make it as understandable as possible, so that you can come out of this exercise feeling like you’ve gained something, not just confused yourself.

This exercise helps you outline your business idea in just 30 minutes, using only 4 sticky notes and a pen.

Why Use Sticky Notes?

Sticky notes make you focus on the MOST important things as they are small, so you can't write too much. You can also stick them on a board to see your whole plan at once.

What to Write on Your 4 Sticky Notes:

1. Story

2. People

3. Money

4. Systems

What Each Sticky Note Means:

1. Story

Your Story is a quick summary of your business and it should answer these questions:

• Why: Why are you starting this business?
• What: What problem are you solving?
• Who: Who are your customers?
• Where: Where will you sell (online, in a store)?
• When: When will you start and reach your goals?
• How: How are you different from others?

Set “milestones” (important goals) to track your progress. Make sure these goals are clear and realistic to reach. You can check out this video on the art of goal setting.

2. People

Who do you need to help you? This could be…

• Team members
• Vendors
• Mentors or advisors

Think about who can support you, even if you’re starting alone.

3. Money

How will you fund your business? Yes, you’re starting it without money – but you’re going to need funding sometime down the line to grow. Consider:

• How much money do you need?
• Where will the money come from? (Savings, loans, investors, customers)

4. Systems

What will help you run your business smoothly?

Especially in the beginning when you don’t have money to hire people and you’ll be doing everything by yourself. Automation will become your best friend.

Think of:

• Email and accounting tools
• Ways to track your progress and performance
• How to make things easier for yourself

Systems are the tools and processes that will help you manage your business.

Free Tools to Start & Run a Business With No Money
Here are some free tools to help you get going and run smoothly, without a lot of help:

Make a Logo for Free:

LogoMakr: You can design a logo in a couple of minutes with their simple website and free logo templates.

Free Tools for Naming Your Business:

Shopify Name Generator: This is a great place to find creative and catchy business name ideas based on keywords you provide.

Once you have ideas, you can double check your Business Name is available with this FREE Company Name Search tool.

Free Tools for Branding – Colour Palettes & Fonts:

• With Coolors, you can put together a consistent colour scheme to reflect your brand's personality – a matching colour scheme in all of your content will make your brand much more memorable.
• FontPair is where you can choose fonts that complement each other for a professional look and a better aesthetic appeal in your visuals.

Free Tools for Creating Your Online Presence

Free Website Builders:

Wix offers free options to help you make a visually appealing website. Plus, if you don’t have any coding knowledge, it is helpful because it has super easy drag-and- drop controls.

If you want to dive in deeper, there are a lot of ways for you to build the website of your dreams for FREE.

Free Tools for Social Media Management:

• MetaBusiness Suite: Here you can manage your business’ Facebook and Instagram pages, schedule posts (saving you time), AND interact with your audience, all in one place.
• Buffer: Here you can schedule posts for free across ALL of your social media platforms (Choose the Free Plan)

Pro tip: Scheduling your social media posts in advance allows you to consistently engage with your audience, even if you don't have time to post every day. Over time, this can bring in new clients.

Free Design Tool:

Canva: Not just for logos, you can also use Canva to design social media graphics, presentations, flyers, and pretty much all other marketing material with easy-to-edit templates (there are a lot of templates available, even on the free plan).

Email Marketing & Content Creation:

Why Communication Matters:

Communicating with your audience through email marketing and content creation can help you:

• Grow your brand
• Build relationships with potential customers
• Get sales

3 Free Tools for Communication & Collaboration:

• Slack: One day when you have a team, you can communicate with them in real-time, share files, and pair it with other tools.
• Zoom: You can use Zoom to do video meetings, webinars, and conferences for free (up to 40 minutes)
• Mailchimp: Build your email list and send emails for marketing and updates to your audience (choose the free plan option)

Running Your Business Smoothly

Free Tool for Project Management:

Trello is a free app to organise your tasks, set deadlines, and collaborate with team members (one day when you have a team).

Why It's Important to Stay Organised as an Entrepreneur on a Budget:

Staying organised from the start will help you:

• Save time
• Reduce stress
• Gain control
• Focus on priorities
• Meet deadlines
• Improve decision-making

It is important for all business owners to stay organised and on top of things, but it is ESPECIALLY important for you starting out with no money, as you will probably run things alone in the beginning.

Free Productivity Tools to Stay Organised as an Entrepreneur:

• Todoist: A user-friendly to-do list app
• Notion: A note-taking and project management tool with a free planand a huge library of free templates, including special Notion templates for entrepreneurs.
• Focus Keeper: A free Pomodoro Timer for productivity

“So, can you start a business without any money?”

Absolutely.

DON'T let lack of cash hold you back - you CAN do it.

It'll require some hustle and creativity on your part, but you can definitely start a business with no money.

Absolutely. A lack of cash shouldn’t hold you back.

It'll require some hustle and creativity on your part, but you can definitely start a business with no money, especially if you take advantage of all the free tools and free tips and guidance online.

It is going to be hard work, you're going to have to put in hard work.

But the freedom and fulfilment that you'll get from starting your own business will be so, so worth it.

There are also a lot of formalities required when you run your own business…

Registration,

Taxes,

Accounting…

It’s a lot, but you don’t have to worry about any of it – Govchain can handle all of this for you, and at a fraction of the cost of a traditional accountant, so you can just focus on your business.

When you're ready to start the journey, we're here to help you register your business.

If you need any assistance or advice along the way, we’re here for you, just reach out to our Support Team.