How to start a business with $100 is what we shall be looking into in this post. Have you ever thought of starting a business but get constrained due to little or no capital? Do you know you can actually start a business today with just hundred dollar? I will show you as we proceed in this content.
A lot of people have been discouraged in pursuing their career in business because of capital. How can do I make more money to start a business of my choice. You may have been over labored trying to make money while the money money is not coming forth.
Sometime ago, I sat in my bed thinking the type of business one can actually start with $100. Another thought came into my head, how do I start this business? Which location and who do I need to target in this business? So many questions keep coming into my head but I resolved at a particular one.
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Sharing my stories with you here is a privilege to some people. I recently got a mail from one of my followers concerning one of my testimonies on becoming a high earning blogger. I think he got the message correctly and today doing great.
What is Business
My understanding about business may not be the way you perceive it. To some, business is just a mere buying and selling of goods and services to consumers who are in dire need of the products or items. In my own definition, I define business as any transaction that puts money into your pocket.
I believe this definition will not be strange to you. Any transaction that helps you make extra benefits is purely known as business.
Why Do I Need To Start A Business?
This question should be the first thing that should come into your mind. Why must I venture into business instead of searching for a white collar job? I usually think this way before now until I found my path in business.
I have over heard some people discussing what type of business they are doing and how they are making much money from it. Before we proceed let me advice you on one thing first. DO not venture into any business because a friend of yours is into the business. First learn it and choose the type of business you have a passion for.
As I am now, I can not open a physical store rather I will open an online store. Why do I say so? Online store does not require you to keep talking to customers especially in area of price negotiation. Am not good in that area. But if it online store, once you set up your prices, it remains like and any buyer will buy without asking for price reduction.
Now, you need to start a business to help you make more profit with the little capital you have at hand.
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8 Legal Requirements for Starting A Business
You can’t just get up one morning and start a business with $100. It needs you to plan it before you start up. There are requirements that one need to consider before starting a business under $100.
These are some of the things you need to start your own business legally:
1. Create a LLC or Corporation – This means you need to create a Limited liability Company or a Corporation which is a business legally owned by an entity.
2. Register Your Business Name – Your business must have its name registered in Corporate Affairs commission. This particular point reminds me about the time I wanted to register my business name. I never knew it requires some amount of money before that could be done. I spent close to fifty dollars in registering my business name.
3. Apply for a Federal Tax ID Number – To make sure nobody harass you in the process of doing your business, make sure you apply for the Federal tax ID number. This number will let the Federal inland revenue officers know that you pay your tax at every of the business year.
4. Determine If You Need a State Tax ID Number – You may decide to only apply for the State tax ID number instead of the federal. This means that your business could be limited in the particular state you established it.
5. Obtain Business Permits and Licenses – License gives you the privilege to run your business without fear of any form. Example: Patent shops has licenses that grants them permission to administer drugs to patients.
6. Protect Your Business with Insurance – Eventually your business collapse today, you can apply to your Insurance company to pay you certain amount of money which you have been remitted to them over the years. and this payment comes with a good amount of interest.
7. Open a Business Bank Account – Every business owner must have a bank account which should solely be for the business. Some people makes this mistakes of using their personal bank account as a business account as well. It is very wrong to do. Your business needs its separate account.
8. Consult the Professionals – With the help of professionals, your business can always be analyzed and proper recommendation made after finding out certain lapses. A professional consultant will guide you on what to do to improve your business profit.
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How To Start A Business With $100
To the main business of today, let us see how to start a business with $100. To many of you, it is impossible to achieve that. But I want to tell you that it very possible to start with just $100 depending on the business you wish to start.
I will share my own secret with you here. If you like you can give it a try and see if it works for you as well.
Start A Blogging Business With $100 Today
How does this sound? Do you know that I just start a blogging business with less than hundred dollar. How did I do that?
Follow this steps here to start your blogging business:
- A shared hosting server will not cost your more than $40 including a free domain if you so wish to go for a free domain that comes with the shared hosting account.
- Register the domain and install WordPress.
- Start creating quality content. See how to create quality content.
- When you get about fifty (50) content with not less than one thousand word (1000), apply for Google AdSense.
- Wait for Google AdSense Approval. If you are lucky to get approval, then you are good to go. Start earning and enjoy your business.
I believe this helps. In case you want to learn how to host and own a website, do let us know through the comment section. We will be glad to assist you.
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