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Starting A Home Business When Strapped For Cash

Gordon Milton

June 14, 2007

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If you are considering borrowing a large amount of money for starting a home business, it may be preferable to find other ways of financing your business without submerging yourself in a pile of debt. There are many ways of starting a home business even with very little money.

Offering Services

An ideal way to eliminate the huge start up capital required, is to start a home business that only requires you to invest your talents and your time. For instance, if you have some special skills and training on dealing with children with learning disabilities, you can set up a tutoring service. There are many people, country-wide, that offer home tutoriing for children with learning difficulties and it pays handsomely. Alternatively, book-keeping skills and experience, are usually in great demand by small local businesses.

Use your current resources

Using your present resources when starting a home business can help you conserve capital. For example, if you have a big house with an extensive lawn, you can turn your house into a child minding center or a day care center. Many parents need a safe place to leave their children while they go to work or to the shops. Generally, a day care center can be child's play (excuse the pun) to promote in the neighborhood. Once your local community discovers that you are offering this type of service, they will start arriving on your doorstep.

Working Online

Consider starting a home business online that requires no capital investment. For instance, if you are a good writer, you can offer your services online. The advantage about working as an online freelance writer is that you can work where ever you are. So long as you have a computer with internet connection, it doesn’t matter if you are working inside the mall, the coffee shop or by the beach for that matter. However, if you have no writing skills, you can always join an online affiliate marketing program and be rewarded from the sales generated from your site. Most online affiliate marketing programs do not require you to put up capital to get started. The "edge" these online affiliate programs have, is that they pay big commissions. If your site generates a lot of traffic, it is odds-on that you will be generously rewarded by these affiliate marketing programs.

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