Even if you do not have a well-filled bank account, you can start your own business. Entrepreneurship is something you do to earn money. And because you like it. The type of business you want to start does of course play a role. This article helps you to start your own business if you have no (own) money.
The KVK Advisory Team regularly receives questions from entrepreneurs who think you can only start a business if you have money. 7 frequently asked questions about starting without money:
What kind of business can I start without money?
What does it cost to register my company in the Trade Register?
Does the KVK check whether I have money when I register?
Can I choose a free legal form?
How do I know if I need money to start my business?
Where can I save money?
I do need money to start my business. How do I get it?
1. What kind of business can I start without money?
Most start-ups start a business in something they have experience in, either from interest, education or work experience. If that’s the case with you, you probably already own equipment or tools, so you can start your business with minimal resources. In this type of work, your skill or knowledge is enough to help your client. Consider starting with yard maintenance, odd jobs in and around the house, construction work, administrative support for businesses, and coaching or consulting work.
2. What does it cost to register my company in the Trade Register?
A registration in the KVK Commercial Register costs € 51.95. You can deduct these costs from the profit when you file your income tax return. Sometimes suppliers or agencies ask for a certified extract from the KVK: the passport of your company. Organisations can also view the information in the trade register digitally. A paper extract is often no longer necessary. Make your business partners or institutions aware of this, it will save you money.
A paper extract costs € 15.60, a digital certified extract costs € 7.80.
3. Does the KVK check whether I have money when I register?
No. The KVK regulates the registration of companies and does not check whether you have a full bank account. When you come to register your company in the Trade Register, you specify:
what the name of your company will be
where your company is located
what activities you carry out
How you can be reached
4. Can I choose a free legal form?
Everyone who starts a business must choose a legal form. This is the legal jacket for your company and determines, among other things, the liability and your tax obligations. The sole proprietorship and general partnership are legal forms that you can easily start yourself without the intervention of a notary. You do have to pay the registration fee of € 51.95 at the KVK.
For the private company (bv) you have to go to the notary. The costs for this differ per notary office and depend on your wishes. Take into account an amount between € 300 and € 1,000.
5. How do I know if I need money to start my business?
If you want to start a business it is advisable to write a business plan. With that you prepare the entrepreneurship step by step. Part of the business plan is an investment budget: an overview of the minimum financial resources you need to start. If you do not need to buy anything for the start, the amount you need can be 0.
It is a good idea to make a forecast for several years. You can start without money, but after a while you may need money to grow or replace items for example. Reserve money for this.
6. What can I save money on?
If you have no money, you can save in many ways. With some extra effort and creativity much is possible. Think of free advertising, a workspace at home or do your own administration.
Use your network and people around you. You do something for that one zzp’er and he does something for you in return. Networking is an important entrepreneurial skill. Daring to speak to people comes in handy in networking. It can bring you customers and maybe even collaborations. An additional advantage: you can learn a lot from others.
7. I do need money to start my business. How do I get it?
The most obvious way is to go to a bank. But banks expect you to take risks by investing. If you don’t have any money, this option is often dropped. If you do need money for your business plans you can work and save in addition. This may mean that you can spend less privately for a while. You can also start small and then work on growing your business. This can be done by starting your business part-time next to a salaried job.