How to Form a Business for Less than $1,000
So you’re interested in starting your very own business yet have limited finances. What are your choices? Good news is that you have many choices. Although they will be limited due to your limited finances, rest assured that you will be able to form your very own business for less than a $1000. This may mean that you don’t get to have everything you want right away, but that’s okay. Once you get started and establish your business, you can then begin to use your profits to buy all the additional items you want for your business.
The following information is a short-list of the necessary business essentials that will help you get your business started.
Free
Although it will take a lot of time and hard work, doing a lot of tasks yourself will save you lots of money!
Write your own business plan by using a free business plan template.
Take advantage of free business services, such as training and counseling.
Advertise/market your business using a few of the oh-so-popular social media options currently available, such as Facebook, LinkedIn and Twitter.
Low-Cost
Although you can do a lot to form your business for free, the following are either essential or deemed important when it comes to forming your very own business.
Register your Business: Depending on the state you register your new business in will determine how much the registration fees will cost you. Costs start at around $100.
Create a Website: The internet is here to stay, making creating a website to go along with your business essential! Costs for a domain name and one year of website hosting starts at around $60.
Create a Logo: Hire a freelancer to create a catchy business logo. Instead of hiring a big company, try one of the more popular freelancing sites, such as UpWork or Guru. Costs start at around $50.
Business Licenses/Permits: The cost of a business license or permit is minimal, normally ranging in price anywhere from $10 to $100, dependent on your particular state.
A Few Helpful Tips
If you need to buy any business supplies, ask for a discount. Promise the supplier that you will give them your future business. Also, look into one of the many available programs available that assist startups, small businesses, and/or minority groups