Business advice for under-18s

[Kyle Curran]

I am currently 16 years old and I have been running my business since January making roughly £100-150 per month.

Recently I have taken on some new wholesale customers and I am looking at now making around £1500 a month.

As I am taking on more customers I will have to legitimise my business a little more. This means getting liability insurance and most importantly opening a business bank account as I am currently operating from a under-18s current account, which is completely separate from my own but I believe this is not good enough as I run a limited company which requires a business bank account.

So, I was wondering if anyone had any advice on banks that would take me on - the director of the company is 18 but I am the majority shareholder, this makes applying online near impossible.

Thanks in advance,

Kyle

 

[bodgitt&scarperLTD]

Do you need to be LTD yet?

 

[SamF]

Do you need to be LTD yet?

It sounds like he is already a Ltd Company.

To the OP - you are treading dangerous ground having a bank account in your name for a Ltd Company if that's how I understand it. Yourself and the Ltd company are separate entities so it must be a bank account controlled by the business (read directors, not shareholders).

Go and speak to major high street banks as I'm sure they can help you.