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Starting a new business can be a great way to make extra money but many people think that it will cost a lot to do and therefore they avoid it. This need not be the case.
Provide a service
If you are selling a service, then there is no stock to buy. This means that you do not have to pay out any money for this. You could sell consultancy, freelance services and many other things. Think about what skills you have that you might be able to sell, whether you are creative, artistic or knowledgeable, there is something that you will be able to do that you can sell. Take a look at what other people with those skills are doing so that you can do something similar or do it better than them!
Get a free domain and hosting
It is still possible to get a free domain and web site hosting. This means that you can easily advertise your services for nothing. There is a selection of places that offer this. Websites are now easy to set up and you can get free templates which make your site look really professional and you can do everything yourself. There are many videos and posts which you can look at to find out how to do this so that you can easily do it all for free.
Use a grant/loan/crowdfund
If you want to do something that does cost money, then there are ways to fund it without you having to pay out. It is rare, but there may be some grants that you can apply for to start you off. You may be able to get a small business loan to start things going. You may prefer to use crowdfunding as a way to start things going. All are worth looking in to if you need to invest money in stock or premises before you can start.
Use social media
Social media is a great way to promote your business for free. Many people use it these days and businesses are beginning to understand how it can be a really useful way to reach out to potential customers. If you make up a page for your business and ask your friends to share and like it, it could be a good start for you.
If you need help with areas of the business that you are not experienced in then you could offer to exchange skills. If you can offer them some time doing something, then they may return the favour by doing something for you. This works especially well if you have friends or family members that have skills that you could use but you have talents that you could lend to them as well.