How These Four Women Launched Businesses With Less Than $5,000 

People are starting businesses at higher rates than ever before. According to data from the US Census Bureau, 5,481,437 new businesses were started in 2023, so far, that’s the highest year on record, representing a 56.7% increase from 2019, and the numbers are continuing to climb. 

If starting a business sounds appealing to you, then it’s a good idea to just do it.

Launching into entrepreneurship may seem overwhelming and expensive, but it doesn’t have to be perfect. The best way to learn is to just do it, that’s akin to what is known as the “lean startup model,” which according to the Small Business Association, is best suited for owners who want to start quickly and keep things simple.

Another way people can start, which is more traditional, is by writing out a business plan, which takes much more time to put together as it’s very detailed. It’s also a key document needed for people who may want to look for investors down the line. 

You can also apply for the Her Agenda Breakthrough Grant! Her Agenda is committed to helping women break through barriers in entrepreneurship and professional growth. In honor of our 17th anniversary, we are launching The Breakthrough Grant. The grant will award $5,000 to one ambitious woman entrepreneur who is ready to break through barriers and take her business to the next level. 

There’s no one way to start a business, but it helps to keep the costs down. Here are four women who started successful businesses with less than $5,000 in startup capital. 

Makaeda Gibbons started Brown Sugar Babe with $300, according to Side Hustle Pro, and turned it into a fragrance empire that now ships more than 10,000 orders a month. When the business began expanding, she began using credit cards to finance when necessary, didn’t take any investors, and put every dime she made back into the company, not even paying herself for the first two years of business, according to her embedded interview with Side Hustle Pro.

In said interview, Makaeda talked about how she made $6,000 in 2019, which was its first full year of sales. By its third year, it made $300,000. Gibbons attributes the leap in sales to relying heavily on influencer marketing. 

“Influencer marketing is a hornet’s nest of success. It can literally push you forward in a way that you’re not ready for,” Makaeda told Side Hustle Pro. “Listening to your community and formulating based on their desires is what I did as well as influencer marketing. When I started working with influencers, I saw a huge growth spurt.” 

Before Bobbie started her business, she was laid off in 2015 and faced challenges in finding her next position. That motivated her to launch the virtual assistance company, Virtual Gurus, with $300 and grew it to a multimillion-dollar business. 

“I couldn’t get a job no matter how many resumes I sent out,” Bobbie explained in an interview with Entrepreneur. “Interviews after interviews. And nobody would hire me.”  

Racette used that as fuel to launch and is now considered a leading voice in business. 

Keida launched Soulmate Customs with one $300 embroidery machine and a Shopify site, according to MSN.

The 19-year-old businesswoman scaled her business to $1m in 11 months by leveraging social media to showcase her designs and attract customers.   

Monroe Steele began blogging on a standard website over a decade ago and has since grown her online presence to hundreds of thousands of followers across Instagram, YouTube, e-books, and more.

The former physical therapist began her blog by discussing her thrift shop finds, budget shopping, and styling all her cute finds. Eventually, she was let go from her day job as a doctor and focused on becoming a full-time influencer. Today, Monroe lands major campaigns and brand deals and has made millions of dollars by curating a life she loves.