Believe it or not, it is possible to start a business in Ohio with little to no capital. However, in order to do so, you may need to scale back some of your grand ambitions for your business. There is nothing wrong with starting small if you can build momentum when the time is right. Some of the biggest and most profitable companies in the world had humble beginnings in garages and basements.
Forbes recommends utilizing current resources when starting with little or no money. For example, English major graduates who spend a lot of time writing probably already have a laptop and internet access. If not, there are libraries that may provide this. A programmer would have similar resources. Both of these professionals could start an LLC, freelancing their services to clients. This may require no additional capital investment on their part.
As the clientele grows then they may outsource some of the work to colleagues and friends who are qualified and skim off the top. These additional freelancers would also have their own resources, thereby eliminating the need for additional capital investment. When the company has saved up enough money, then building apps, corporate websites and a brick-and-mortar business may make better sense later on. Some may even use money from these smaller activities to fund a bigger and more profitable type of business.
The internet generation are not the only ones who can convert their skills into cash with limited capital investment. Here are some other successful business opportunities recommended by CNN that may require only marginal initial capital investment:
- Xeriscaping or landscaping
- Private yoga instructor
- Ukulele instructor
- Food truck
When many people think of starting a business, they think of brick-and-mortar businesses with 10 or more employees at the ready. However, with some creativity, talent and a little bit of luck, entrepreneurs can start microbusinesses and turn a profit to create something bigger and better in the near future. The key is to avoid stagnation. Always look for new opportunities for growth.