Find the Money to Start Your Own Business

It takes money to make money. While it is true that a few people have been lucky enough to start their own business for an extremely small amount of cash, most are not able to fulfill their dreams of having their own business without some start-up money. Fortunately, even if you don’t have a substantial amount of money in your savings or were not born with a silver spoon in your mouth, there are resources available for finding the money you need.

Small Business Loans

Look into getting a loan. In the U.S., the Small Business Administration works with several loan institutions to offer low-interest loans to entrepreneurs with a fair to good credit rating. According to the SBA’s website, you should know everything there is to know about making a business plan, dealing with finances and managing a business. The site even offers free training in planning your start-up, beginning the process, and managing finances.

Alternatively, your local bank or another institution may loan you the money you need if your financial accounts are in good standing and the bank sees the potential in your venture.


Grants for Small Businesses

The SBA does not offer grants, but there are other institutions that do. Grants are a fantastic way to get started because you do not have to pay back the money. On the downside, you will have to compete with others for grants. Here is where a grant proposal comes in. If you have a good idea and there is a market for it, the next step is to write a persuasive grant proposal or have one written for you.

When dealing with the government, the chances of being awarded a grant are much better when the business you wish to start has a beneficial social and/or economical effect on the area in which you are starting your business. The CDFI Fund is one such grant and loan institution.

How to Write a Grant Proposal

Read Up on Finding Grants and Writing Winning Grant Proposals

There are a plethora of books on the market that deal with finding grants and developing grant proposals that outshine the rest. No matter where you choose to apply for grants or loans, it is a good idea to have a well-written business plan ready to show the organization(s) through which you hope to get the money to start you own business.

Family Investment

Another way of raising money is to talk to family, friends, and work associates. There are those who may be willing to help you with the stipulation that you pay them back with a small amount of interest. The typical arrangement is to make payments from a certain percentage of your profits or to offer a percentage of ownership in the business from which they would receive revenue.

The idea of getting a loan from a family member may be a touchy one for you, but if you have shown yourself to be responsible, a family member may be willing to loan you some start up money. The best way to go about obtaining a loan from a family member is to draw up legal documents and/or go through a professional institution such as Virgin Money, a place that deals with social loans.

Money for Growing Your Business

Starting it up is not always enough. The sad fact of the matter is that many new businesses fail. Some fail because they were bad ideas in the first place. Others fail for socioeconomic reasons. Still others fail because turning a profit took a little longer than anticipated and the money simply wasn’t there. When asking for loans or grants, be sure to ask for a little more than you need to get started. You need to have enough money to fertilize and ensure consistent growth.


There is good news for those whose businesses are in danger of falling by the wayside due to inability to grow for lack of money. If you have been consistent with payments and kept the rest of your credit in good standing, there are companies (including the SBA) that offer loans to breathe life into a dying entrepreneurship.

Low Overhead Affiliate Marketing

Depending on the type of business you wish to start, the cost may be minimal. If you already have a computer and internet connection, the beginnings of an online business are right at your fingertips. Affiliate marketing and freelancing services may cost you in time at the beginning. As your business grows, you can put a little more money into it.

Make Some Money through Affiliate Marketing

You can start making money without even owning a website or domain name. If you can write and have the ability to put in the time that is necessary for keeping up with content and building back-links with social networking and article marketing, you can get your start right here at HubPages. Blogger.Com allows for some affiliate marketing and even has a specialized widget for easy interaction with Amazon.Com. There are sites that offer revenue sharing for posting interesting links and descriptions as well as for adding content. The trick to making money "for free" is in spending time doing research and in writing -- a LOT. The more you make, the more you will be able to put into marketing and expanding your affiliate business.


You can generate some money through Google AdSense and other contextual advertising in this manner as well.


Writing, designing, virtual assisting, presentation creation, SEO, internet marketing, web content - all of these can be done through freelance bidding sites. Over time, you can put some of the money you make into a freelance business of your own.

If you want to find the money to get started on a slightly larger scale, start with a minimal amount. A few hundred dollars will get you a website, domain name, a start with pay-per-click ads and the ability to outsource some of the necessary marketing.

It is a cinch that borrowing a few hundred dollars is easier than borrowing a few thousand, even if you are borrowing from Aunt Joy.

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Comments 64 comments

BizVT34 profile image

BizVT34 4 years ago from USA

Here's a Hub on using an SBA Loan to buy a small business

businesstrader profile image

businesstrader 6 years ago from Sydney, Australia

This is a really great hub and I have now put you in my watch list.

Bimendra gun profile image

Bimendra gun 6 years ago from Sri Lanka

Thanks seo it

great idea

i'm not miss your articles ever, because they're very useful

kerisilk profile image

kerisilk 6 years ago from Mequon, WI

Thank you for giving a realistic approach. It is tough but it can be done!

Andy 6 years ago

thank you for this information.

callentx profile image

callentx 6 years ago

Very helpful information, thank you

Neil Ashworth profile image

Neil Ashworth 6 years ago from United Kingdom

Very good article. You write well and provide some valuable information..

SEO IT! profile image

SEO IT! 6 years ago from Tucson, AZ Author


I'm so glad this helped you! :)

Tamarii2 profile image

Tamarii2 6 years ago from NEW YORK

Your hub is easy to understand and read.VERY helpful!Thank you for responding to my question it lead me to your hubs.Enjoy your journey.

harryinc profile image

harryinc 6 years ago from India

It's not easy to get loans here in India. Not that I have required one but yes, it is not as easy as US or any other developed country. Nice article and really helpful for someone who is confused about getting money to start a business.

Peter Dickinson profile image

Peter Dickinson 6 years ago from South East Asia

Very useful info. If ever settle down in one spot I will give this consideration.

abalinga profile image

abalinga 6 years ago from South Australia

Well done.

Thanks for the info.

festersporling1 profile image

festersporling1 6 years ago from Los Angeles, CA

Time and money are both key ingredients in making anything work. Having the proper investment gives you time to hold off the bills to make the money.

mistersurgen 6 years ago

very impressive i see that this is going to help my vorparation i thank u very much

cogzidel profile image

cogzidel 6 years ago from India

Entrepreneur must listen

Ingo 6 years ago

Wow - great article. IMHO you can`t start your own buisness without your family and friends - whereever you live and work.

Thank you SEO IT

SEO IT! profile image

SEO IT! 6 years ago from Tucson, AZ Author


Most of the advice is for the U.S., though the idea of talking to family and friends is universal!

SEO IT! profile image

SEO IT! 6 years ago from Tucson, AZ Author


Great point, but for those who need to do something now or are in danger of losing the job they have, a great business idea could really help them prepare for the worst. The best advice may be to save money for starting a business, but I think people who can do that wouldn't be looking for a loan or grant.

kjetil profile image

kjetil 6 years ago

Awesome hub! Thanks :)

Enginesrme profile image

Enginesrme 6 years ago from Chesapeake, VA

In this economy, I found that keeping debt low and preparing for the worst works best for us. Thanks.

stavgeor profile image

stavgeor 6 years ago

Nice information.But is it a global or an USA application?

HealthFreak2009 profile image

HealthFreak2009 6 years ago from Texas

Great hub! We've been running our own internet business for over a year. It's crazy sometimes but we enjoy it. Thanks for posting such a great article!

webverification profile image

webverification 6 years ago from Idaho

Great tips. Thanks!

SEO IT! profile image

SEO IT! 6 years ago from Tucson, AZ Author


You don't have an account, so I could not email you. What type of help do you need?

temesgen akele 6 years ago

I'm looking for help

truly1 profile image

truly1 6 years ago

I found helpful and informative, thanks.

SEO IT! profile image

SEO IT! 6 years ago from Tucson, AZ Author

Time... Oh yes, TIME -- and time is money! I shudder to think of how much time I've put in. In fact, if I were to go back and look at my hours and the amount of money, I've made, I am a SLAVE.

One of the worst phrases I've seen over and over... "make thousands without even trying! or another "I work part-time and I'm a millionaire!" PPPPPPHHHHTTTT.

The truth is that making money takes time and money. Good point on computers and webhosting, but some people can sit at home for free *sigh*. However, most of us cannot.

Most who get involved in affiliate marketing do it on the side at first and then build up... definitely hard work.

mwatkins profile image

mwatkins 6 years ago from Portland, Oregon & Vancouver BC

TrademeLove - computers cost money, web hosting costs money, time costs money because you can't sit at home for free and let your bills go. Good affiliate marketers have premier tools, the free ones are fine when you are starting out, but you can't compete with the best without investing time and money into being the best. 20 hour days are common in any startup business, no matter what it is and it takes time and a lot of hard work - and whether we want to hear it or not - it takes money. There is a 97% failure rate for this exact reason. The good side is that there is a 3% success rate! Again - Bravo to you on your hub!

SEO IT! profile image

SEO IT! 6 years ago from Tucson, AZ Author


Very true! In fact, I've been writing about that very thing on my blog. :)

Trademelove profile image

Trademelove 6 years ago

You don't need money to become an affiliate marketer... just time.

mwatkins profile image

mwatkins 6 years ago from Portland, Oregon & Vancouver BC

Excellent hub on money options for starting a new business. One thing you also might share is getting involved in a business with a low overhead cost ratio at start-up. What I mean by that is that there are a long list of businesses out there that involve little to no over head start-up costs and can pay off in a short amount of time. Bookkeeping, for instance, outdoor painters, handy men (or women), housekeeper, etc . . . If you need to find your niche, look at those things you have a passion for that you can get into with little to no initial cash flow. For more info on those things, check the internet - if it's bookkeeping you are interested in, check with AIPB - American Institute of Professional Bookkeepers. For $35 a year you can join their organization and you get enough information to learn how to be a bookkeeper, or temp until you figure it out. A bachelor Degree helps, so stay in school! If you have a great idea for a startup but need capitol - check with a party who would partner with you, but not steal your idea. And, always, get it in writing if you form a partnership because it is not "if" they end, but "when" (partnerships). You reap what you sow - hard work and tenacity are often what keeps a business going for the initial 5 years after inception of your idea (startup and creation). Grants are often already awarded up to 5 years in advance and with the economy, those are shrinking. So, I say again, Good job on your hub - Knowledge is Power!

Mischelle Watkins

Kulsum Mehmood profile image

Kulsum Mehmood 6 years ago from Nagpur, India

Great hub and very useful info for managing finances for starting a new business.

SpiritLeo profile image

SpiritLeo 6 years ago from Europe

Very useful! Thank you!

sean.rutger profile image

sean.rutger 6 years ago from USA

Great tips on how to get that much needed capital for a small business venture. I would just add that a close review of your personal finances is always a good idea prior to starting any new business.

starts business profile image

starts business 6 years ago from makati city

Capital is the most primary need in starting a business, you can make loans and borrow money from the banks but make sure you will spend it wisely. Thanks for the tips.

SEO IT! profile image

SEO IT! 6 years ago from Tucson, AZ Author

Chaotic Chica, I'm glad you found this hub useful! Do you have a website? Even local businesses can benefit from a website and depending on your type of business, a blog site might be helpful to you. Starting out in this way is much cheaper than it seems, especially when you concentrate on organic SEO. The web service I use is running a great special right now. I received my hosting EXTREMELY cheap and have had zero difficulties with it. While I know I'd have more traffic if I put more money into it, for now, traffic is growing simply through SEO, social networking and some article marketing. I don't know if I'm "preaching to the choir", but if you want more information, I'm willing to help out with that (no charge for info!).

Island Tropical profile image

Island Tropical 6 years ago

Thanks for sharing, nice hub.

Chaotic Chica profile image

Chaotic Chica 6 years ago

My husband and I opened a small business a year ago with help from my parents. It was very small and even with moderate advertising and lots of word-of-mouth pushing we were in danger of shutting our doors last November. Instead we took my last unemployment check (I had not been working for the store) and invested in a small retail location in town. Our sales tripled and foot traffic increased 120%. We were excited. Unfortunately last month killed us and we're hanging on by a thread. We applied for a local loan designed to help small businesses that are community oriented. I have been searching for grants as well but come up frustrated. I am a female hispanic veteran and figured there would be loads of grants for someone like me to start a business. Thank you for renewing my hope and pointing me down another path I had not seen before!

charlesroring profile image

charlesroring 6 years ago

I just knew that there is grant for starting a business. The problem is that not every government has such scheme. During the current economic downturn, people really need financial support to begin their business. Thank you for sharing this.

sncalo 6 years ago

Very helpful for new people like me. Thanks

hisham2020 profile image

hisham2020 6 years ago

Very good article, I like it

festersporling1 profile image

festersporling1 6 years ago from Los Angeles, CA

That sounds very good. I am going this route down the road in the near future.

doitrightnow profile image

doitrightnow 6 years ago from San Juan, PR

Fantastic tips. Thanks for doing the spadework for the rest of us!

fdoleac profile image

fdoleac 6 years ago from Hollis, New Hampshire

Thanks for the advice. We are preparing for an SBA loan now and hope for good results.

festersporling1 profile image

festersporling1 6 years ago from Los Angeles, CA

Solid tips. Thanks. :)

Trusted Marketing profile image

Trusted Marketing 6 years ago from Charlotte, North Carolina

Resources are rarely the real problem. It's usually resourcefulness that's lacking. You can find a way.

Marios 6 years ago

I agree starting any business its very had and without any money its almost impossible. Social Loan is the best one, and asking your parents to help you out, if you believe in your business and you can prove it to your parents or friends thay might support you. Great article

ecogirl333 profile image

ecogirl333 6 years ago

Interesting. I guess the family loan thing could be a bit difficult for many. I would suggest even this be drawn up pretty formally to avoid any confusion in the future.

maribin profile image

maribin 6 years ago from USA

interesting hub

Illuminati 6 years ago

I am looking to establish a small scale business during the time i complete my grad.

Greenheart profile image

Greenheart 6 years ago from Cambridge

Thanks for a great hub!

rosecobra profile image

rosecobra 6 years ago

A winner! Very informative.

employmentnow 6 years ago

This is great information for upcoming entrepreneurs.

nadp profile image

nadp 6 years ago from WEST PALM BEACH, FLORIDA

This is great information. Thanks!

drpastorcarlotta profile image

drpastorcarlotta 6 years ago from BREAKOUT MINISTRIES, INC. KC

GREAT HUB!! Blessings!!!

Ian Ganahl profile image

Ian Ganahl 6 years ago from Fresno, California

I'm an up and coming filmmaker (with skills in writing, directing, and acting). This useful information will help me get my dream going. Thank you.

easybusinesslinks profile image

easybusinesslinks 6 years ago from UK

Finding money is something that I've been looking at for my own businesses in the past and it can be difficult to obtain some capital to create some future cashflow, but it is doable.

Cheers for a wonderful hub here!

Mark Jenner 6 years ago

Excellent post - thanks

K4yl4 profile image

K4yl4 6 years ago

i like this article

hubdog 6 years ago from Dorset, UK

Many thanks for a very infomative article, especially the government grants piece..


Handmade-Crafts profile image

Handmade-Crafts 6 years ago

Some useful information. Thank you for sharing.

Janna Jones profile image

Janna Jones 6 years ago

Very good article, I like it

SEO IT! profile image

SEO IT! 6 years ago from Tucson, AZ Author

You're welcome :)

tal g mel profile image

tal g mel 6 years ago


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