How do I start a sustainable business with no money or loans?
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Question by lost in translation: How do I start a sustainable business with no money or loans?
My husband and I want to start an organic nursery business but neither of us have money and I still have a lot of college loans to pay off. Where can we get money to start and what is our next step?
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2 Responses to How do I start a sustainable business with no money or loans?
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You can try to get a small business loan. I think there are government grants as well to help you get started. However, most small businesses fail within the first year and it is always recommended you have a year’s worth of finances in the bank for the start up and possible slow sales in your first year.
WiserAngel
November 22, 2012 at 7:21 am
To get started, I suggest contacting the Small Business Administration Financing Page (SBA) – links below. Entrepreneur also offers a great site dedicated to money & finance – see below.
Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you’ll inevitably have as well as many you haven’t anticipated yet. See the source box for some relevant links.
Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:
Finance Related:
* Free Money for Small Businesses and Entrepreneurs by Laurie Blum
* Finding Money: The Small Business Guide to Financing (Small Business Series) by Kate Lister, Tom Harnish
* Financing Your Business Dreams With Other People’s Money: How and Where to Find Money for Start-Up and Growing Businesses by Harold R. Lacy
* No Cash No Fear: Entrepreneurial Secrets to Starting Any Business with No Money by Terry Allen
* Starting on a Shoestring: Building a Business Without a Bankroll by Arnold S. Goldstein
Nursery Related:
* The Complete Guide to Garden Center Management by John Stanley
* Establishing and Operating a Garden Center: Requirements and Costs (Nraes (Series), 161.) by Agriculture, and Engineering Service Cooperative Extension Natural Resource
* So You Want to Start a Nursery by Tony Avent
There are plenty of free informational resources out there. Check the source box for links to articles.
Hope that helps! I wish you much success & happiness in all your ventures!
TradeMark Express
November 22, 2012 at 7:57 am