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How can a 17-year-old start a business? |
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Answer
You can have an adult (mom or dad) sign a contract with you stating that for 1 dollar you will be able to buy a (this) business back from them when you hit your 18th birthday.
Answer
It just depends on what kind of business you want to start. The first thing to do is think about what you enjoy and what you are good at. Do you enjoy a particular sport or hobby. Are you good at what you do? You could give lessons to others on batting a ball, playing tennis, piano, or even surfing the web. There are lots of adults that still haven't tried cyberspace. Is there something you know that is valuable information that others would be willing to pay for? Why not write an e-book or start a newsletter. Are there elderly adults in your neighborhood. Why not provide shopping services or even deliver meals.
If you want to be technical any time you offer a product or service for the exchange money, you are in business for your self. Just think of the kind of thing teens and children do for extra money such as lemonade stands or lawn cutting. You don't need a license for that and you wouldn't have to pay taxes since you are working under the table.
To better answer your question. It also depends on what state you live in. Some states require that a person is at least 18 to incorporate, and some like my state (Ohio...and correct me if I'm wrong. I'm 25 and its been a while) doesn't have that age restriction.
As for me. I run a business and don't even have a license. I'm contracted by my company as an independent rep which makes me self employed and able to write expenses and losses to my personal income.
A good starting point would be to look up the nearest SBA (Small Business Administration) office. They could give you direction on how to get started. There may also be private-run organizations that can give you some help.
Entrepreneur.com has a special section for Teen Entrepreneur - tips on how to build a successful business:
http://www.entrepreneur.com/tsu/index.html
First answer by David Henry. Last edit by Sdresh. Contributor trust: 181 [recommend contributor]. Question popularity: 151 [recommend question]
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