There’s no doubt about the fact that the most vibrant of economies are built on the backs of small business owners, those who take the initiative to pursue opportunities to get their start-ups off the ground. Governments are fully aware of this and in a lot of countries their awareness is attested to by the support structures they have in place to create an enabling environment for entrepreneurs and small business owners to thrive. Be that as it may however, sometimes it’s still really hard to get the funding you need to get your start-up off the ground, whether it’s a proven business model that has proven to have a high chance of success or indeed if it’s a new business model that has a higher risk but also has the potential to bring in much higher returns.
While getting funding in any one or more of the available ways would naturally be the ultimate goal of someone looking to get their business off the ground, conventional funding can take a really long time to materialise, not to mention all the hoops you’ll have to jump through as part of the due diligence process. The truth is though unless it’s specifically a high capital business you want to get off the ground, just about any business can be started without what is initially perceived to be the required capital to get that business up and running. You can indeed start your business with very low start-up capital, and in some instances you can even start your business with no start-up capital at all.
Obviously it all depends on the type of business you want to get off the ground. Either way, it’s about putting processes in place so as to be able to produce and deliver the product or service you want to sell at the lowest production cost possible. Just to make a simple example, if you’ve spotted what would appear to be a great spot in town for a business and personal admin service centre and all you really have is some money to pay the rent maybe, proceedings can still go ahead if you take out a photocopier lease for instance as opposed to trying to raise some capital to buy an industrial grade photocopier outright. This leasing approach is surprisingly available as an option in many industries, so it’s simply a matter of delving deeper into your research related to the start-up costs as more and more primary service providers and manufacturers are seeking out creative ways to boost revenues.
In addition to the leasing option one can also explore the upfront payment model as a means through which to get the ball rolling. Again, this can only work in some businesses, like digital services for instances or those businesses which require your labour and the sourcing of raw materials.
The bottom line is that starting your business with low start-up capital is indeed possible and you don’t necessarily have to wait for a big capital injection to get things off the ground. Often just going up the supply-path will reveal to you just how you can go about getting the ball rolling without having to invest huge amounts of money to cover your production costs.