Starting a Home Business When You Can’t Risk Your Finances

Starting a business will NEVER guarantee you 100% success. However, starting a business will allow you to be successful. What you do with that opportunity is up to you. If you’re serious about starting a home business but cannot risk your finances, options are still available. You can start by looking for creative ways to finance your business.

Start Your Own Website

Starting a website is by far the best way to get started with a home business. You can create a website for less than $100, and there is no risk involved. The only thing you need to do is find a way to drive traffic to your website. Once you have traffic, you can start selling products or services.

A website of your own will allow you to control your destiny. You can make money 24 hours a day, seven days a week. You can also work from anywhere in the world. All you need is an internet connection, and you’re in business.

A simple site costs you $100 to $500 to get started. If you’re not ready to invest that much money into your business, you can create a free blog at You won’t have as many features, but it’s a great way to get started without risk.

Start an Online Store for Digital Products

Here’s another great idea for starting your home business: If you have digital products to sell, for example, e-books, templates, or graphics, you can start an online store with very little money. An integrated WooCommerce plugin for your WordPress site could be all you need to start.

This option is great because there’s very little overhead. You don’t need to worry about manufacturing, shipping, or customer service. All you need to do is create your products and set up a way for people to pay you.

There are several different ways to do this. You can use a service like Gumroad, which will handle all of the payment processing for you. Or, you can set up your payment processing using PayPal or Stripe.

Both of these options are low-risk because you’re not investing a lot of money upfront. And, if you don’t make any sales, you’re not out anything.

starting a home business

Starting a Service-Based Home Business

You can start a service-based business if you don’t have any products to sell. This could be anything from dog walking to housecleaning to lawn care. Anything that people are willing to pay you for.

The great thing about starting a service-based business is that you can often do it with very little money. In most cases, all you need is a website to get created. From there, you can use online marketing to attract clients. Once again, there’s minimal risk involved in starting a service-based business; and if you don’t make any sales, you’re not losing any money anyway.

Of course, the downside to starting a service-based business is that it’s more hands-on than other types of companies. You must also be willing to work odd hours, weekends, and holidays. If you’re not prepared for that, it’s probably not the best option.

Open a Separate Bank Account for Your Business

Keep your finances away from your business finances by opening a separate bank account for your business. This will help you keep track of your expenses and income and make it easier to do your taxes at the end of the year.

You can open a business bank account with very little money. Some banks require a minimum balance, but you can usually open an account with less than $100.

After opening your account, you can apply for a business credit card. This will help you build business credit, which can be helpful down the road if you ever need to borrow money for your business. You can use it to pay for expenses like web hosting, advertising, and office supplies. And, if you pay off your monthly balance, you won’t have to pay any interest.

Cut Back on Personal Expenses if Possible Before Starting a Home Business

For some reason, many people think they need to spend a lot of money to start a business. This isn’t true. The less money you spend, the better off you’ll be.

If you’re serious about starting a home business but cannot risk your finances, you must be very careful with your spending. Cut back on all of your unnecessary expenses. For example, if you have a gym membership that you never use, cancel it. If you eat out every day for lunch, start packing your lunch. The less money you spend on non-essential things, the more money you’ll have to invest in your business. And the less debt you’ll have to worry about.

The Bottom Line

There are many ways to finance your home business if you cannot risk your finances. By taking the time to explore your options, you can find the best way to get started. With a bit of creativity and effort, you can be on your way to creating a successful home business.

By Lauren Hunter

I'm Lauren, and I've been on a journey to earn money and save money for most of my life. As the editor-in-chief of, and as a freelance writer, coach, musician, and entrepreneur, I love looking for new ways to make money and better ways to keep it. I'm also a wife and work-at-home mom (WAHM) to four kids, so budgeting is my middle name. I'm excited to be on this money journey with you!