No money? Not an issue. We have found creative and effective ways to help you set up your business without money. Have a look below:
1. Get government funding
Grants and loans in Canada are probably the fastest way that will help fund your small business. The only requirements you need are to ensure you check the interest rates, and repayment policies, as well as appropriate documents.
2. Choose an inexpensive location
With a tight budget, it can be difficult to pay off the rent. For this reason, you can first set up your business in your home office or opt for a shared one.
3. Lost-cost or no-cost businesses
If you are low on money then it is not logical to opt for large-scale businesses since they require the use of high capital. Some of the businesses you can launch include online services, knowledge-related businesses, or creating a website and advertising.
4. Marketing strategies
You might also need to look at your marketing strategies if you want to start a business without money. With that in mind, you can promote your business by making use of different social media platforms, LinkedIn, or content writing.
5. Do not eliminate your day job
If you still have a day job, it can help you gain extra cash as you wait for your business to succeed.