No money…no problem!

by mike tombs
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People tend to think that you need a large chunk of capital to start your own business; however it is possible to get started without needing to invest large sums of money into it. You might have a great idea, or just want a change of lifestyle that running your business may allow. Whatever your motivation it is possible to start off with a small budget. Here are three great tips to get you going.

  1. Reduce your needs: You don’t need flash offices, or the latest laptop. Take a look at what you really need to get going, bearing in mind that you can upgrade later, once you are making money. Shop around, make sure that every purchase you make is the most financially savvy one.
  2. Bootstrap: Depending on what you are offering, whether it is a service or a product, you could start small and just offer one item, or a couple to begin with to reduce the initial outlay, then you can plough your profits back in to your business to grow your offerings. This also allows you the opportunity to test the market, and the potential to change direction rapidly as you learn more about the demands of your marketplace. Remember as a small start-up your main advantage over the larger companies is the speed of your reactions. Think sailing boat versus ocean liner.
  3. Funding: Just because you don’t have any money, it doesn’t mean other people don’t. Ask around. Your friends or family may be willing to invest (or not, as the case may be!) but there are lots of grants available. Ask around local business networks or the Chamber of Commerce for advice on grants. Consider going to the bank for a loan. As long as you are confident in your ability to pay the money back this can be a good route to take. Also, the bank will want to make sure that their funding is secure, so their seal of approval on a loan is a good indication that you have written a solid business plan.


At TLA Business Services we believe that you should work with your accountants throughout the year, helping you to grow your business into a successful enterprise. With help and guidance from our Business Builder Club we can work together to help your business achieve the goals set for it. To find out what makes us different contact us on 01905 21411

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