How To Start A Business When You don’t Have the Capital

How To Start A Business When You don't Have the Capital
Written by dondube8

This days so many people wants to start one or two businesses and become financial independent but the major challenge is that majority of this people do not have the necessary resources either in cash or materials or tools to use to setup their businesses running.

This alone has hindered so many business potentials from growing and achieving their dreams of building a brand for themselves.

This days business is very important, the era of looking for white scholar jobs is getting over because in the nearest two to three years majority of workers will loose their jobs to artificial intelligence controlled robots, who will replace the manpower.

The truth is that, if you have never thought about this it is better you begin now before it becomes too late.

Starting a business requires money, money to put some things in order, money to make things workout fine for you. In business money is everything, because we enter business to spend money and make bigger money. If you don’t spend, you will not get money and that’s one important factor in business.

Today, because they are so many people who wants to start a business but doesn’t have the resources to do that, we at ExplitGist have decided to put a guide through which will help you achieve Your dreams.


How To Start A Business When You don’t Have the Capital

To start a business, you need a capital, that is money to start-up the business and in a situations whereby you don’t have the capital, what do you do? So below, we will discuss on how to  get started and scale through ;

      1. Write A Business Plan:

Writing a business plan should be the number one thing you must do. in your business plans, let it contain the details of your business, how you want to run and grow it, how many people you will love to work with as in number of staffs and how much do you need to start and get to that stage you wish to reach. be very clear in writing out all about your business. what you do, who are your customers, why they must patronize you and what makes you different from your competitors.


      2. Do Apprentice :

Over the years people have been asking me why do i recommend people who do not have money to start-up business to do apprenticeship and my answer is that it is good way to learn the art of the business and still be empowered with some money from your boss to start-up your own.

In Nigeria, why we have so many Igbo billionaires under the age of 30yrs old is because majority of them, after secondary school, their parents will send them out to learn one good trade from a master who will train him for some years and after which the person is settled with both money and some material resources to start on his own.

     3. Look for Grants :

Another silent way to raise money is to apply for grants to run your business and the easiest way to get it is by registering your business with the corporate affairs commission of Nigeria and Federal Inland Revenue Services. With your company registered with this two Government parastatal , you’re good to go. This is because any Organisation that is either giving you grants or loan will be rest assured that you are a legal entity and you pay tax.


      4. Learn A Skill and Offer A Service:

the fourth way to start a business without having a capital is to learn a skill and at the end you offer a service to people who you think needs it. In this regard, one needs to be very active with social media and make sure you’re always updated every minutes.


     5. Social Media Skills:

The last on pour list is generating money through the social media. today so many people are making good amount of money from social media just by doing what others can not do.

Most of the ways in which people make money on social media includes

  • digital marketing using social media
  • building social media pages such as instagram page, facebook page etc
  • managing social media accounts
  • building active Youtube channnels etc

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