It’s never been easier to start a business. From an e-commerce store that you run from your home to a tech start-up that needs a team of grads, people are launching new brands every day and selling to the public. The process of starting a new business is always going to be hindered by financial limitations. The larger the scope of your new business, the more financial backing you need. For entrepreneurs with a low credit score, getting access to those finances can be very challenging. However, with a wide variety of solutions available, it might be easier than you think to start a new business with a low credit score.

1. Have a Business Plan

All businesses need to have a business plan, and for entrepreneurs with poor credit ratings, a plan is vital. Make sure that your plan goes deeper than a profit analysis. List your resources and potential options for funding the basic requirements of your new business.

2. Know Your Credit

You’ll be able to manage your money a lot more easily if you have a very clear understanding of your existing credit score. Make sure that you have a copy of your credit report, and that you have checked it for errors. You might find that your credit score isn’t as low as you might have thought, and that opens many new possibilities for financial support.

3. Finance Options

Once you have a firmer idea of where you stand financially and what you need to run your business, start looking at finance options. There are loans available to people with bad credit, and loan types like equipment financing can be very useful. If you need a vehicle for your business, then applying for car lease from companies that specialize in bad credit car leasing is the smart option. Never assume that your bad credit will prevent you from getting access to the equipment and resources that you need.

4. Bootstrapping

While it is very difficult to start a new business without spending any money, a bootstrapping mentality can help you keep tighter control over your expenses. Use the resources that you already have or that you can access. Bootstrapping a business launch has pros and cons, but can be a smart way of getting started.

5. Sell Your Skills

Don’t assume that all new businesses need to sell a product. If you have a skill set that other people value, then you have something to sell that costs you nothing to buy. From basic computer skills to language lessons, and garden work to your favorite hobby, look at what you can provide others.

6. Stick to Your Job

If you're already working, then you have a safety net in place should your business idea fail to land. Although juggling full or part-time employment while launching a new business can be challenging, having the security of a regular wage can be very beneficial. Don’t burn your employment bridges just because you can’t imagine your business failing. Many do, and by keeping your current job, you make it easier to recover from any potential loss.

It’s certainly more difficult to start a new business when your money situation isn’t ideal. For those entrepreneurs with bad credit, all it takes is some smart thinking, an awareness of your financial options and a plan. Know the potential barriers and create solutions. You could be running your new business sooner than you think, no matter the state of your credit score.