How to start a business with no money FAQs
It’s not uncommon for a ton of questions to come up about gathering money for starting a business. Here are some answers to common questions you may be wondering the answer to.
What is a good business to start with little money?
There are many different business ventures you can embark on with little to no capital needed. Here are a few easy ideas to help get your business ideas flowing:
- Internet-based businesses: drop shipping, blogging, affiliate marketing, virtual assistant, graphic designer
- Service-based businesses: dog walking or pet sitting, grocery delivery, handyman services
- Talent-based businesses: photography, art, personal training, music lessons
How much does it cost to start a business?
This can vary and is dependent on the type of business you plan to start. Research from Shopify found that on average, small business owners spend $40,000 in their first year of business. However, it is possible to start a business with no money with funding options like loans, grants, and crowdfunding—or, depending on the type of business, no capital may be needed up front at all.
Do I need to get a business license?
Yes. In order to legally do business in the state in which you reside, you must register your business, which entails obtaining a business license. Aside from getting a business license, there are other steps you’ll need to take to register your business—like registering your business name, registering with the IRS and receiving an EIN number, registering with state and local agencies, and applying for any additional permits your business may need.
Many people dream of owning their own business but still wonder how to start one with no money. Fortunately, a lack of capital doesn’t need to hold you back. Today, there are plenty of free resources and funding options available that can make starting a business with little money a reality. QuickBooks Capital can help you get business funding and qualify for a small business loan that’s right for you.
QuickBooks Online Payroll & Contractor Payments: Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services, subject to eligibility criteria, credit, and application approval. For more information about Intuit Payments Inc.’s money transmission licenses, please visit https://www.intuit.com/legal/licenses/payment-licenses/.