How to start a business in Australia with no money

A lack of money shouldn’t be a barrier to dream big and start a business. If you’re overflowing with ideas but overwhelmed at the potential cost involved, there are ways to ease the financial burden and start building a lean, competitive business from scratch in 2025.

Let us explore take a look at some factors to consider if you’re looking to kickstart your business journey, but short on the capital front. You can find a few business ideas that are relevant to the Australian market and ways to scale your business when it’s up and running.

Table of contents
Starting a business with no money Business opportunities with little to no startup funds Ways to grow your business capital Grow your business with Wise FAQs

Starting a business with no money - guide

Starting a business with no money is daunting, but it is possible to build a startup by being smart with finances, leveraging low-cost tools, and looking for investment opportunities.

Identify the right business model

One benefit of a lack of funds is that it streamlines your options and focuses efforts on doing more with less. Business models that require lots of upfront investment — brick-and-mortar retail stores, franchises etc. — should be ruled out as these require too much capital.

You need affordable and scalable options. To find the right model, you should:

• Identify your unique skills and expertise and how you could monetise them.
• Consider scalable models based on subscriptions, selling services online, and earning commission from promotions.
• Test your business idea with surveys and gauge interest with free social media accounts and cheap landing pages.
• Create a business plan that details how you will make money, reach customers, and deliver value.

Build a platform

Every business needs a platform. You won’t get far if your target audience can’t find you. Establishing an online presence isn’t expensive — just think of how many personal social media accounts you have for free. To build a platform, you can:

• Register a domain name for around $10 to $20 and start building a basic website using free tools like WordPress and Wix.
• Sign up to social media apps relevant to your target audience and start posting content.
• Register at marketplaces and job boards like Upwork and Airtasker where you can advertise your services.

Start networking

The old adage ‘it isn’t what you know, but who you know’ is especially true for startups. Forging connections with the right people can lead to a crucial investment opportunity or unearth a valuable business partner. You need to put yourself out there and get involved.

• Attend free online webinars and local business events to get to know people in your prospect industry and potential clients.
• Join relevant LinkedIn communities and Facebook Groups and start engaging with them via posts and messages.

Sort business registrations in Australia

You can’t skip the essentials for legally registering and setting up a business in Australia). Fortunately, the costs are relatively low. Some of the primary registrations required to start a business in Australia include:

• Register for an Australian Business Number (ABN) via the Business Registration Service. It’s free and you’ll need it to pay tax¹.
• Register your business name with the Australian Securities and Investments Commission (ASIC) for either $44 for 1 year or $102 for 3 years².

Check out our guide on business registration in Australia.

Use affordable tools to lower initial costs

You’re going to need a suite of digital tools to manage your daily operations and finances. Many of these tools have trial versions that you can sign up for and use for a limited time.

• Productivity and communication - Slack, Teams
• Project management - Trello, Notion
• Graphic design - Canva, Adobe Express
• Accounting - Quickbooks, Xero

Wise Business is also an excellent option for service-based startups that manage overseas staff or serve international customers. When making payments to your suppliers, contractors, or even freelance employees, you can leverage Wise to make money transfers in over 40+ currencies with no markup on the mid-market rate. For a one-time fee of 65 AUD, you will get be able to get local account details for 8+ currencies to receive payments.

In addition, Wise Business integrates with accounting software like QuickBooks and Xero to streamline financial management by syncing transactions and maintaining accurate records, reducing manual entry and errors. Its invoicing feature lets you send professional invoices and receive payments in local currencies, ensuring you get the exact amount without hidden fees. This enhances cash flow management and allows you to focus on growing your business.

Business opportunities that require little to no startup funds

Not every business idea needs to cost a fortune. Starting a business with a small amount of capital can reduce risks and make you more agile, ready to leverage affordable tools and resources to thrive and grow.

Let’s look at a few examples of how to start a business with no money.

Starting a dropshipping business with no money

Dropshipping is a form of retail where you don’t hold any inventory or stock and instead forward orders to a supplier who will ship the product directly to a customer. This eliminates many of the overheads and capital costs that make many startups so difficult to fund and manage.

The key to dropshipping is finding your niche — an area you can excel in through your knowledge and passion — and identifying market demand for it.

You can then focus your efforts on forging relationships with a reliable supplier, and building a website and marketing to differentiate yourself from competitors and attract customers.

Dropshipping businesses typically make money by paying a supplier at a lower, wholesale price after selling goods at a higher, retail price.

Starting a consulting business with no money

You can also turn your expertise into a consulting startup. Businesses need professional guidance and support across multiple industries including finance and accounting, marketing, graphic design, web development, HR and leadership, and more.

First, you need to identify an area where you can deliver ‘added value’ for clients and bring something new to your target market — a unique value proposition. Then, the onus is on you to deliver exceptional customer service and slowly build a network of contacts.

Consulting firms make money by charging clients either hourly or per project. The costs of running a consulting business can be low initially. You can use free tools — social media accounts, WordPress blog etc. — to build an online presence and start pitching your proposals to clients.

Starting an online services business with no money

Focusing on online services rather than selling goods can vastly reduce startup costs and operational expenses. There are no physical premises to rent or purchase or inventory to manage. These costs can be a burden on small businesses.

Like consulting, online services businesses generate revenue by offering either specialised skills or digital solutions to clients. The main focus initially is again on networking and generating new leads.

A few examples of online service businesses that you can start from home with no money include:

• Freelance writing
• Affiliate marketing
• Event planning
• Tutoring
• Virtual assistant

Ways to grow your business with no/low capital

Starting a business is an achievement in itself, especially if you’ve not been afforded the luxury of burning through large amounts of capital.

The next step is to manage your finances effectively so those critical funds aren’t wasted on needless expenses or hidden fees, and are, instead, funnelled back ‘bootstrapping’ style into your business to support continuity and growth.

1. Managing your incomings and outgoings

You are going to have a run a tight ship during the formative stages of business. Adopt a lean and conservative approach to spending. And track every dollar that comes in and out of your business. To avoid negative cash flow, you can:

• Set clear and achievable financial targets and realistic budgets.
• Review expenses to identify areas where you can cut back.
• Continually research low-cost alternatives for business processes.
• Always keep financial records organized and accurate.

2. Expand into new markets and innovate

Expanding into new markets and fostering innovation are crucial strategies for growing your business with minimal capital. While it can be overwhelming, it often presents with untapped opportunities where you can reach a broader spectrum of potential customers that would be relevant to your product or service offered. . and .

As you navigate the challenges of business growth, maintain a clear focus on your original vision and conduct thorough market research to understand the needs and preferences of potential customers. By remaining flexible and open to change, you can position your business to not only enter new markets but also thrive in them, ensuring long-term success.

3. Quickly unearth hidden fees

There’s no point in saving cents if you are wasting dollars. Hidden fees cost US small businesses a staggering $171bn every year³. It’s crucial as a startup to act quickly and decisively to cut any unforeseen expenses that are weighing your business down.

Imagine you're a budding entrepreneur, ready to take your innovative idea to the global stage. You've meticulously planned every aspect of your business, but as you begin to operate across borders, you quickly realize that hidden fees are eating into your profits. The dream of expanding internationally starts to feel like a financial burden.

For instance, traditional financial services seldom obscure the true cost of interanational transactions with hidden markups on the exchange rate. With foreign transaction solutions like Wise Business, you see exactly what you're paying, with fees pegged at the real, mid-market exchange rate and ensuring that every dollar is spent WISEly—no pun intended.

4. Get grants and business loans

Finally, don’t stop looking for new forms of investment. You’ll find it easier to apply and secure business loans when your business is up and running — many lenders include a 6 or 12-month trading limit as eligibility criteria.

You are also more likely to meet the requirements for business grants. These are run at the federal, state, and territory levels in Australia. Depending on where are you located and your business size and industry, you might be able to apply for grants that take your business to the next level. You can find available grants at business.gov.au.

Grow your business with Wise

Wise wants you to keep your money in your business. That’s why our services are as cheap for startups as for large corporations. Registering for a Wise Business account is free where you’ll be able to hold and manage money in 40+ currencies, to make payments at a low rate.

For a one-time fees of 65 AUD, you can get you account details in 8+ currencies that will allow you to receive payments. There are no monthly subscriptions that drain your resources further, and no hidden fees when sending money from your account to suppliers, freelancers, and employees.

You’ll need a business account with us to manage your startup expenses, even if you have a personal one. For just a one-time fee, you’ll get access to all of our great banking features including batch payments, invoicing tools, Quickbooks integration, multi-user permissions, and business cards.

What's more, you'll benefit from the following with a Wise Business account:

• Free to register — Hold and convert between 40+ currencies. Send to 140+ countries
• Debit and expense cards for you and your team, which you can use in 150+ countries
• Multi-user access for team members, with ways to control and manage permissions
• Pay up to 1,000 people at once with the Wise batch payments feature
• Integrate with your favourite cloud accounting solutions like Xero, Quickbooks, and more
• Get account details to receive in 8+ currencies for a one-time fee of 65 AUD

Sign up for the Wise Business account! 🚀

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How to start a business with no money FAQs

What is a good business to start with $1000?

A good business to start with $1,000 is one with minimal upfront investment and low overheads, such as dropshipping, freelance writing, or affiliate marketing. That budget gives you enough to cover essentials like getting an ABN, buying a web domain, and purchasing basic tools and software to run a business in Australia.

How do I scale my business after starting my business with no capital?

A lack of capital shouldn’t prevent a business from scaling quickly. You can reinvest early profits into areas of growth such as employees, marketing, or product development, and focus on leveraging affordable tools that automate tasks and help you to expand operations and enter new markets overseas. But it is also crucial to prioritize expenses based on how your plan to scale your operations.

How do I pay for my business expenses if I have no money?

To cope with day-to-day expenses, you must open a business bank account and document all of your incomings and outgoings. You can fund your business with a separate personal account initially — a small ‘loan’ that you pay back over time. There’s also the option of securing grants, business loans, and crowdfunding.

Is there a way to get investment if I am starting a business with no money?

Yes, the Australian government runs lots of grant programs to support startups. The eligibility criteria can be strict, though, and you’ll need to put forward a compelling case for why you deserve funding. You can also take out a business loan or secure investment from venture capital firms, angel investors, and crowdfunding platforms.

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Sources:

1. Business gov au - Register for an Australian Business Number
2. Business gov au - Register your business name
3. Wise - State of US SSMBs report