How to Start a Business Without Money

Video Transcript

"Hello, my name is Emily Gasner, and I'm with Working Solutions, and I'll be talking about how to fund a business if you have no money. The first thing that you should do if you're thinking about starting a business is you figure out how much money you'll need to start that business. It's a great idea if you have a job or some kind of income that you can actually start saving so that when the time comes you can invest your own personal money into the business. If you don't have that option, you can also ask friends, family members, and other people who might be interested in the type of business that you're doing, to lend you money or to get you money so you can get started. If that's also not an option for you, one of the thins you might consider doing is looking into what is called an individual development account. These are savings programs that match, for every dollar you save, they have you dollars match, and then you can take the money that you saved and use it to start a business. There are nonprofit organizations around the United States that actually offer individual development accounts. So that's a great place to start if you don't have your own money, and friends and family aren't willing to lend or gift you money."