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Want to start a small business with no capital

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  • 24-10-2012 4:58am
    #1
    Xios
    Registered Users Posts: 2,073 ✭✭✭


    Hey, I'm a part time student in 3rd year of a business degree. I have a few business ideas that i'd like to start, but i've no money and no real means of saving at all.

    I'm currently get my living from the welfare, so its pretty much in one hand and out the other. I'm aware that there are some local grant authorities, but they seem to require that you have capital of your own, which i don't.

    Can anyone give me advice?


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    #2
    daigo75
    Registered Users Posts: 389 ✭✭daigo75


    One way could be finding one or more partners who are willing to invest in the ideas. Since you're studying business, it shouldn't be difficult, for you, to write a business plan. Of course, that means that you will have to give away a share of your businesses, but, at least, you can get them to take off.
    One word of warning: the main difficulty you will face will be negotiating how much to give away and for how much money. Business ideas are just ideas and, as such, they can be risky, therefore an investor might want a significant share to take that risk.


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    #3
    riveratom
    Registered Users Posts: 964 ✭✭✭riveratom


    Xios wrote: »
    Hey, I'm a part time student in 3rd year of a business degree. I have a few business ideas that i'd like to start, but i've no money and no real means of saving at all.

    I'm currently get my living from the welfare, so its pretty much in one hand and out the other. I'm aware that there are some local grant authorities, but they seem to require that you have capital of your own, which i don't.

    Can anyone give me advice?

    Hey OP,

    Do a search for 'Swequity NDRC'...


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    #4
    rude awakening
    Closed Accounts Posts: 621 ✭✭✭rude awakening


    In this position myself OP.
    Applied to http://www.businessangels.ie/ today.
    Hoping something good comes of it


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    #5
    lucky john
    Registered Users Posts: 838 ✭✭✭lucky john


    depending on your idea something like this might help http://www.fundit.ie/browse

    There are other sites like this as well so google crowd funding.


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    #6
    Xios
    Registered Users Posts: 2,073 ✭✭✭Xios


    Thanks for the responses.
    You've given me a lot to research :)


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    #7
    rude awakening
    Closed Accounts Posts: 621 ✭✭✭rude awakening


    ill keep yea posted if I have any success with the business angels


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    #8
    just pete
    Registered Users Posts: 126 ✭✭just pete


    How much ballpark?
    Could family or friends be an option for a loan rather than having to give away a percentage of your business?


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    #9
    capefear
    Registered Users Posts: 774 ✭✭✭capefear


    www.revenue.ie/en/about/publications/supporting-job-creation.pdf

    have a look at the above link there might be something of interest to you.

    depending on your previous circumstances etc you might be eligable for Seed capital Invest or employment incentive initiative.

    Also check your tax credits etc for the last four years you might be due a refund. Pm me if you want more details.


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