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How To Start A Business Under 18

More complex because companies are governed by boards of directors. You will have extra challenges ahead of you because until youre 18 youll have barriers to setting up your own business bank account getting credit and raising business finance.

18 Under 18 Meet The Teen Entrepreneurs Who Are Changing The World Fortune

It also means that you will be unable to borrow money or have a credit card so if you need to raise finance for your business this needs to come from an alternative source.

How to start a business under 18. A guide to starting a business while under 18 starting a business can be challenging at any age but starting up when under 18 years of age involves additional challenges. The simplest business to set up because it has less legal and tax obligations. Bank accounts and raising finance people aged under 18 are legally considered to be a minor and unfortunately this means that you cant open a business bank account.

To start a business as a kid start by thinking of a product or service to sell like selling homemade cookies. You need to be at least 18 years of age to be a director of a company. Follow this guide to get your business plan off on the right foot.

Involves a number of people who carry on a business together. Or if youre going to university and want to start a business part time view our guide to the best business opportunities for university entrepreneurs. Now read the inspiring stories of 20 young entrepreneurs who are all aged 25 and under and running great uk businesses.

As well as balancing business with education you will be limited to the type of work you can do as a minor. Starting a business can require a lot of work time and money. These include the specific legal status of minors and regulations affecting the type of work that young people are able to do.

Once you have an idea make a list of the materials and equipment youll need such as baking pans and ingredients for your cookies. Next find a place to sell your products like a booth or stall at a local market.

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