Starting a small business with little or no capital

Posted by Felix Okoli on Monday March 24, 2014 at 16:27:22:

A lot People are afraid to start their own businesses because they have this mindset that for someone to start up and run a successful business the Person has to start with a huge amount as capital. That is not always the truth because, it is possible to start a business with little or no capital, and then gradually grow the business to a bigger level. There have been many instances of businesses that started small and expanded to multi chain stores.

Some examples of businesses that can be started with little or no capital are; offering any type services to people such as teaching, barbing, computer repairs, marketing and programming, anything you are good at can be rendered as a service to get paid.

Secondly, collecting goods in small quantities on credit or on commission basis from wholesalers to sell and return their capital, but for this to work out, it requires some amount of trust from both parties.

Some Tips to Bear in Mind While Starting up a Small Business;
-Ideas are more important than capital. Work on your idea and set clear goals. Then start small and watch your business grow.
- You must not wait to have a large amount to start out your business; you can begin small and expand later.
- Saving and reinvesting your profits into the business is one sure way to grow any business into a bigger structure.

Whatever your idea is, don’t wait for some big Sponsor that will give you all the money you need, start up with whatever you have with you now.