How can you start a business without money in hand?
Starting a business requires capital, and the investment amount differs based on the business’s nature, plan, and model. Startup businesses are often ineligible for a Business Loan, which is often available for existing businesses only. However, the invested amount has little to do with a business’s size and success. One may start a business without money in hand and grow to become an industry leader over time. So, instead of pondering how to get a Business Loan, find ways to start a business with no money in hand. Here are a few tips that will help:
LLP registration with the EMI option, a low-cost business registration option, with which a business can open a business account, obtain tax registration, and invoice clients.
Sell online, which does not require capital for inventory, warehouse, staff, and other overhead costs.
Provide services like tutoring, web development, coding, medical transcription, content writing, etc. These services do not require much capital for investment and help establish a business without a Business Loan.
After running the business successfully for a few years, one may know how to get a business loan and apply for extra capital.