Most times the major set back people experience after making up their mind to start a small scale business like the ones listed in our previous post “10 businesses you can start with less than 20k” is the problem of raising capital needed for the business. This is why I decided to share simple tips you can use to start your business and grow over time .
Starting a business without capital is really possible but it doesn’t work for everyone because you need a good sense of honesty and integrity to succeed if you chose to trade this part.
I call this give a word method:
How does it really work? this method is simple and works 100% provided you keep to your word .
This method will work perfectly for those who wants to start business like; frying akara/yam, baking, mama put etc.
What you have to do is meet anyone who sells the major products you need for your business like yam, rice beans, groundnut oil etc reach an agreement with he/she to give you the products on credit and you pay back in 2-3 days time. Some shop owners may agree to this especially if they already know you why some will not buy the idea but you will need to try as many shops as possible and “do not” fail to make payments for the goods as soon as you finish selling for the day so that you can collect more for the next day’s business.
If you are honest enough some shop owners will trust you with more goods and your business will grow faster if you develop the habit of saving your profile and if possible join weekly or daily contribution (more on this topic in another post).
Least I forget;feel free to tell the person you are collecting the goods from that you want to start a business because that may be a good reason for the person to give you the product since he/she is sure you can pay for the product after the day’s business.
Don’t be afraid to try even big businesses do it .
Finally, the success of this method as I already said depends on your level of honesty and ability to keep to your word.
Borrow from a friend/ Family member:
If you have a friend/ family member who is willing to lend you some cash, then you can borrow from them and pay back within the agreed period.
I wish you success as you give it a try and don’t forget to share your experience with us so other people can gain knowledge from also.