44% of Americans Say They Don’t Have Enough Money To Start a Business: 3 Ways To Get Help and Start Building Your Wealth

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Starting a small business gives people the opportunity to become their own boss. They can set their own hours, fill a need in the market with a service or offerings and potentially earn more money than they would working in a traditional office setting. However, a lack of startup money is the biggest hurdle keeping many Americans from becoming entrepreneurs. 

For GOBankingRates’ 2023 Small Business Spotlight, 1,028 Americans were polled on whether they have considered starting a small business. When asked what prevents them from starting their own business, 44% said they didn’t have enough money. 

Fortunately, there are many financial resources available to future entrepreneurs. If you want to start a business, and build your wealth, explore these three funding resources.


Did you know companies like Amazon, Venmo and Visa all offer grants for small businesses? Applying for a grant is an excellent way to receive funding for your small business. 

Unlike small business loans, grants do not need to be paid back. You can search for and find grants available from government agencies and at the state level. Many corporations offer small business grants, as do organizations that offer specialty grants such as grants specific for women or veteran business owners.

If you find a grant your small business is eligible for, it’s worth applying to see if you can secure the funding. Not sure where to look? One helpful space for finding legitimate grants is visiting and conducting a search.

Investment Capital

Those who don’t have enough money to start a business may look into finding an investor. Depending on the type of business you run and its offerings, you may be a candidate for venture capital or an angel investment.

What’s the difference? Those who want a venture capitalist to invest in their business typically run early stage and highly specialized startups. Venture capitalists may invest millions into a startup if it shows signs of steady growth and the potential to yield huge returns. In return for their investment, the business owner will provide them with a stake in the startup. Typically, this is shares in the business or an equity position.

Angel investors differ slightly from venture capitalists. Angel investors take their existing wealth and invest it into businesses in need of funds. They cannot invest millions into a startup. Generally, angel investors have a cap of $25,000 to $100,000 they can invest since they use their own money. Angel investors also require a stake in the business, which may be shares or an equity position. 


Applying for a loan is another great way to get the funding your business needs. If you’re not sure where to start looking, the U.S. Small Business Administration (SBA) helps reduce risk and enable easier access to capital through SBA-backed loans. Some options borrowers may explore include 7(a) loans, 504 loans and microloans.

While there are other loan options available to borrowers, such as bank loans and business lines of credit, applying for an SBA-guaranteed loan means receiving competitive rates and fees comparable to non-guaranteed loans. Other benefits include lower down payments and flexible overhead requirements.

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