How can someone start a business without having anything
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Very doubtful they could..cash is mostly wanted upfront if you want a backer to help you or you've invented something miraculous
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Steve Jobs, Ralph Lauren, Roman Abramovich, Richard Branson and Oprah Winfrey started from nothing - they all went on to be Billionaires.
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Hi @Moji_sola123 and a warm welcome from me!
Is this something you are interested in? What sort of business would you like to set up?1 -
No body starts from nothing wibbles, they would need backing from a bank and they usually ask you what you're investing
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You don’t say what kind of business you are thinking of starting. A lot of people assume you need money behind you, but many people really do start from nothing. You also haven’t said which age group you are in, and that can make a difference to what support is available.
The King’s Trust, which used to be The Prince’s Trust, supports people under 30. I know a few people who started their own businesses when they were younger with help from the then Prince’s Trust. One now has a successful plumbing firm and another runs a plastering business.
There is also government support for all ages through the Help with moving from benefits to work guidance, especially the section on starting or running your own business. This includes things like the Universal Credit start up period, Start Up Loans for businesses trading under three years, and Access to Work if you are disabled or have a health condition.
To be eligible for a Start Up Loan you must be 18 or over, living in the UK, starting a new business or running one that has been trading for up to 36 months, unable to secure finance elsewhere, have a UK based business and have the right to work in the UK.
There are definitely ways to get started without needing a lot of upfront money, depending on the type of business you have in mind. I really admire people who are enterprising and I hope you can find a way to create your own business.
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Well I was thinking of starting a auto parts store or been a auto seller am 24 years
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Yes is something am really interested in , it auto spare parts and car dealer
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If I were you, I would get in touch with The King’s Trust. At 24 you are exactly the sort of person they aim to support, and they focus on helping young people get their ideas off the ground.
Even if you just want some guidance with a simple business plan for your auto parts idea, they can point you in the right direction and help you avoid the usual early mistakes.
They also offer grants and loans to some young people, because they know most do not have spare money to start a business. It is definitely worth seeing what support they might be able to offer.
I really do wish you all the best with this.
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If you're good at fixing used cars you can 'flip' them and trade up quite quickly from almost nothing. (Few hundred quid).
Unfortunately most used cars come with an unseen fault - and then you're left with the option of either losing the profit margin, or not fully repairing the fault before selling it.
I didn't have the conscience to keep doing it myself and obviously couldn't keep losing the profit margin. I preferred breaking up old cars and selling the parts instead. But you need space to do that, which does cost money unless you're lucky to live in a large house with a large garage like some of the 'started from nothing' people did!
I was never aware of the King's Trust or anything like that. I have recently seen specific trades being learnt through that on a TV program, but didn't realise they helped with the business side as well. Very interesting. 🙂
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Of course I need money
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Well I guess am here for the help too I have nothing to start with nor a place I believe I can get those when I see the help am looking for
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Aii thanks
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Non of it working
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Try this link below
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Sorry what is the link for?
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It’s just a link to the contact details for The King’s Trust. They help young people who want to start a business, so it might be handy if you want to look into it a bit more. I just thought it could be useful if you decide to explore things further now or in the future.
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