If you're at university or you've just graduated, now is the best possible time to start a business. Think about it: what do you have to lose? It's unlikely you'll own property, have a job to hold down or have a family to support - when will you get another opportunity to do this? This may be the only time in your life you have the freedom to make mistakes - so take advantage.

Businesses don't necessarily cost a lot to start - and they don't have to take up all your time.

It's not just about money, though - starting a business is great for your CV as well: think about how impressed prospective employers will be if you tell them you've started a business. During a time when graduates are finding harder and harder to get a job, starting a business will give you the edge over other candidates, providing you with skills from accountancy to sales to management and teamwork - and you'll be able to demonstrate to employers just how self-motivated you are.

As a student, it's important you choose the kind of business you run carefully. You'll need to be able to fit it in with your studies and, while we wish it were different, it's unlikely bank managers or investors will take your idea seriously before you graduate.

Try these:

Promotions If you like music, running a club night is a great way to make money: because you can often hire venues for free, as long as your punters spend an agreed amount at the bar, your overheads are low and because budding bands are usually so keen to get any exposure they possibly can, they'll sometimes accept a crate of beer and a promise of a repeat booking as payment. Just make sure you're good at marketing: you'll need to leverage your best social media and flyering skills to get the word out. Check out our sales and marketing section for more advice.

Freelancing From dancing to writing to coding, if you're good at something, you'll be able to freelance. Freelancing is flexible - you can do as much or as little work as you need to do, cutting down during exam time and building up more during the holidays. Take a look at FreelanceStudents.co.uk for opportunities.

Yes, making something does take an initial cost in supplies, but oftentimes, these products can be sold for many times over their actual cost. What you decide to make is up to you, but there are several places you can sell your handmade options online:

Abe’s Market deals in natural and organic goods, such as lotions, candles, granola, and more. Etsy is one of the largest online markets for almost anything homemade, from jewelry to wooden toys for kids. Bonanza is another growing handmade marketplace, similar to Etsy. According to PC World, it boasts over 10 million visits per month. eBay is one of the biggest online ecommerce marketplaces in the world, and its streamlined store options, easy checkout through Paypal, and customizable listing options make it a great choice for selling items.

Tough economic times call for drastic measures. With unemployment rates reaching an all-time high, job security is a concern for even the most seasoned worker. Rather than face an untimely layoff, why not join millions of savvy entrepreneurs and start a business of your own? For little to no start-up costs, you, too, can be your own boss and have the option of working in your pajamas! Here's how someone with no capital can create their own schedule and run a successful business venture in their living room. Here are 10 businesses you can start with little to no money today.

1. Freelance writing
2. Stock photography
3. Web and graphic design
4. Artwork or handcrafted items
5. Tutoring
6. Caretaking
7. Mystery shopping
8. Online teaching
9. Virtual assistant
10. Product demonstrations
11. List item

If your idea and plan of execution aren’t well thought out from the beginning, no amount of money can turn it into a winner. Have a great idea but very little money? Don’t let that stop you! Yes, there will be ridiculously long days with little to no sleep. Yes, you are going to be stressed. But those that want it bad enough will make it.