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Find the Money to Start Your Own Business

Updated on December 9, 2015

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.

Ownership Interest

Do you own your own business?

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    • BizVT34 profile image


      6 years ago from USA

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

    • businesstrader profile image

      Natalie Watson 

      8 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 

      8 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


      8 years ago from Mequon, WI

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

    • profile image


      8 years ago

      thank you for this information.

    • callentx profile image


      8 years ago

      Very helpful information, thank you

    • Neil Ashworth profile image

      George Poe 

      8 years ago from United Kingdom

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

    • SEO IT! profile imageAUTHOR

      Karla Whitmore 

      8 years ago from Tucson, AZ


      I'm so glad this helped you! :)

    • Tamarii2 profile image


      8 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


      8 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 

      8 years ago from South East Asia

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

    • abalinga profile image


      8 years ago from South Australia

      Well done.

      Thanks for the info.

    • festersporling1 profile image

      Daniel Christian 

      8 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.

    • profile image


      8 years ago

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

    • cogzidel profile image


      8 years ago from India

      Entrepreneur must listen

    • profile image


      8 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 imageAUTHOR

      Karla Whitmore 

      8 years ago from Tucson, AZ


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

    • SEO IT! profile imageAUTHOR

      Karla Whitmore 

      8 years ago from Tucson, AZ


      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


      8 years ago

      Awesome hub! Thanks :)

    • Enginesrme profile image


      8 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


      8 years ago

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

    • HealthFreak2009 profile image


      8 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


      8 years ago from Idaho

      Great tips. Thanks!

    • SEO IT! profile imageAUTHOR

      Karla Whitmore 

      8 years ago from Tucson, AZ


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

    • profile image

      temesgen akele 

      8 years ago

      I'm looking for help

    • truly1 profile image


      8 years ago

      I found helpful and informative, thanks.

    • SEO IT! profile imageAUTHOR

      Karla Whitmore 

      8 years ago from Tucson, AZ

      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


      8 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 imageAUTHOR

      Karla Whitmore 

      8 years ago from Tucson, AZ


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

    • Trademelove profile image

      Wade Hartley 

      8 years ago

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

    • mwatkins profile image


      8 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

      Dr Kulsum Mehmood 

      8 years ago from Nagpur, India

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

    • SpiritLeo profile image


      8 years ago from Europe

      Very useful! Thank you!

    • sean.rutger profile image


      8 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 

      8 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 imageAUTHOR

      Karla Whitmore 

      8 years ago from Tucson, AZ

      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 

      8 years ago

      Thanks for sharing, nice hub.

    • Chaotic Chica profile image

      Chaotic Chica 

      8 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


      8 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.

    • profile image


      8 years ago

      Very helpful for new people like me. Thanks

    • hisham2020 profile image


      8 years ago

      Very good article, I like it

    • festersporling1 profile image

      Daniel Christian 

      8 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


      8 years ago from San Juan, PR

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

    • fdoleac profile image


      8 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

      Daniel Christian 

      8 years ago from Los Angeles, CA

      Solid tips. Thanks. :)

    • Trusted Marketing profile image

      Trusted Marketing 

      8 years ago from Charlotte, North Carolina

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

    • profile image


      8 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


      8 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


      8 years ago from USA

      interesting hub

    • profile image


      8 years ago

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

    • Greenheart profile image


      8 years ago from Cambridge

      Thanks for a great hub!

    • rosecobra profile image


      8 years ago

      A winner! Very informative.

    • profile image


      8 years ago

      This is great information for upcoming entrepreneurs.

    • nadp profile image


      8 years ago from WEST PALM BEACH, FLORIDA

      This is great information. Thanks!

    • drpastorcarlotta profile image

      Pastor Dr. Carlotta Boles 

      8 years ago from BREAKOUT MINISTRIES, INC. KC

      GREAT HUB!! Blessings!!!

    • Ian Ganahl profile image

      Ian Ganahl 

      8 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


      8 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!

    • profile image

      Mark Jenner 

      8 years ago

      Excellent post - thanks

    • K4yl4 profile image


      8 years ago

      i like this article

    • profile image


      8 years ago from Dorset, UK

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


    • Handmade-Crafts profile image


      8 years ago

      Some useful information. Thank you for sharing.

    • Janna Jones profile image

      Janna Jones 

      8 years ago

      Very good article, I like it

    • SEO IT! profile imageAUTHOR

      Karla Whitmore 

      8 years ago from Tucson, AZ

      You're welcome :)

    • tal g mel profile image

      tal g mel 

      8 years ago



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