Modern Business Magazine October 2016 | Page 64

MODERN START-UPS Shoestring Start ups By Alan Manly A ll big companies start small. Taking heart from this adage it is obvious that if you have a great idea and no money you are embarking on a well-worn path. Sadly many fail not through lack of enthusiasm 64 ModernBusiness October 2016 but more from a lack of cunning. Assuming that money is in short supply how can you start a business on a shoe string budget? Many start-ups are realistic enough to appreciate that a bank will not lend them money for their start up. So let’s explore how to fund a start up on a shoe string budget. Step one: create a winning business plan A Business plan to clarify what