Finding Start-Up Capital Without Loans

One of the obstacles to starting your own business is finding the capital to help you get up and running. If you don't want to get a loan, and I advise that you don't, then there are other ways that you can begin to fund your business.

Personal Budget Funds

First you can write down your budget. Go over it with your spouse. Are there extras you can cut? Perhaps you could reduce the minutes on your cell phone plan and save $20 a month. Perhaps you could get a bike and begin riding to close-by locations. That will save you money as well. Look at everything you can do and then make a pledge to commit that money to your business.

Putting your personal funds toward your business is beneficial in two ways. First you will be beholden only to yourself (and possibly your partner) for how the business functions. No one will be looking over your shoulder and critiquing your business procedures. Second, you will be using money you already have, which will reduce the stress of running the business.

Quick Extra Money

Look for quick money. While you won't get rich looking for a quick buck, you can earn enough money to support your business' beginnings. You can try online auctions, for example. Begin by selling off some of the things you have at home and then branch out if you'd like into purchasing items to sell. You can put all of that money toward your business savings account.

Have a yard sale. Go through your house and gather up everything that you don't absolutely need. You won't make much per item at a yard sale, but if you have a good location, you can make $100 or more easily in a one-day effort. You also can offer to go through other people's things and sell their items at your yard sale. Split the proceeds with them, and you can keep up the yard sales every weekend and begin to bring in money for your business.

Part-Time Work

Get a part-time job. The job need not be glamorous. After all, you're not planning to have it for long. Try local employment agencies as some of them have second-shift jobs. You may be able to pick up a job for a month and have the money to begin building your business.