How to Open a Small Business with Little or No Money

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How to Open a Small Business with Little or No Money

Opening a small business with little or no money will require a business plan calling for virtually no overhead. Forget about a storefront or expensive television or radio advertising. Your success will hinge on your ability to leverage existing resources that can be used to start your business at no additional cost. Even after you are up and running you must continue to find creative ways to grow the business at a low cost.

Instructions

1. Create an idea for a home-based business. Working out of your house is one of the least expensive ways to start a new business. Chances are you're already paying rent or a mortgage payment and have a home phone or a cell and Internet service. For many businesses that's all you need to get started.

2.Review your idea for a home-based business with a business consultant from the Small Business Development Center. The centers are partly financed by the U.S. Small Business Administration (SBA) and there are more than a thousand branches around the country -- many on college campuses. Find a location near you by checking the website. Free consultations are available on starting a business, including help with writing a business plan. Ask your business counselor specific questions about starting your business with little or no money.

3. Start your business with little or no money based on the business plan developed with the free help of the consultant. Work out of your home and advertise your business for free on the Internet using social networking and free online classified sites. Don't overlook local advertising on bulletin boards and by word of mouth; get inexpensive business cards printed and carry them with you.

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