Starting an online business with limited financial capital may be difficult, but it’s not impossible. The Coronavirus pandemic has put a financial strain on many households, and people have had to get creative to bring in extra money. Starting your own business from home is the perfect solution to cash flow problems, and we have some suggestions for those starting with very little in their bank accounts.
An article in Enterpreneur.com goes into great detail about who to start a business with little to no funds:
Start where you are with what you have.
Take into account your existing set of skills and leverage those to start your business. Your current skillset is an asset; if you’re a skilled copywriter or web designer, it only makes sense to use those skills and start a business.
Leverage your network.
Take into account your connections and the people around you who can support or assist you in your business endeavours. Don’t be afraid to put yourself out there and ask for favours from your inner circle.
Only invest what you can afford to lose.
Being prepared to part with money is something you have to consider. A website is an easy and most cost-effective way of starting a business. Registering a domain name and getting one of our DIY Website Builder packages will not set you back by too much: registering a .co.za domain costs R89 a year and our DIY Website Builder packages start at R109 a month.
Be agile and experiment.
Starting a business requires agility, the ability to move and adapt quickly will set you up for success. Also, don’t shy away from experimenting and the possibility of failure.
Here are a few businesses that you can start with little to no money:
So you’ve just given birth to your first business, and an exciting entrepreneurial journey awaits you; make it official by registering your company with CIPC. In South Africa, all businesses, big and small, need to be registered with CIPC.
The benefits of being registered with CIPC are:
- Protecting your business idea and intellectual property
- Your business gets registered as a separate legal entity
- Attract investors and get funding
- To keep you focused
So, what is the Company Registration process?
Registering your business with 1-grid is not an arduous process at all. We’ve streamlined company registration into a seamless online process that takes the admin away from you.
Follow these five easy steps
- Find a suitable company name and domain to reserve
- Sign up or login as a 1-grid customer
- Add company address and financial details
- List 1 or more company directors
- Review your checkout and leave the rest to us
What documents are required when registering your company?
- Proof of address no older than three months
- Latest 3-month bank statement
- Proof of Identification
- Directors proof of identification
- SARS document including income tax number