How old I have to be to run a business?

[TitanField]

Hi everybody,

My name is Alex from the UK and i have recently decided to start up my own business that makes video games and/or hardware but im not sure what to do and what age i have to be to actually start it up properly seeing that i am only 13 and most of the people i ask say that "You're only messing around!" or "Your too young!". But i don't think that what they say is true.

I cant ask my parents for help as my mum has no knowledge of how a business works and my dad just treats me like im a bit of dirt.

So i hope someone can help!

Thanks,
Alex

 

[ethical PR]

Hello Alex

Well done for wanting to run your own business.

For contracts and other legal matters you need to be 18 or older, however there are some businesses you can run when you're under 18 or have a family member who maybe willing to help.

The Prince's Trust helps young people 13 - 30 who want to set up their own business.

Have a look at their website http://www.princes-trust.org.uk/need_help.aspx

 

[MOIC]

Get part time work, or do it for free, in the industry you are interested in, when you are legally allowed to do so.

You will learn a lot and that's your first step.

What's the issue with your dad "treating you like dirt"?

Perhaps that needs to be addressed.

 

[ldjames]

I started when I was 14. There was a lot I didn't know, but I don't think that lack of knowledge was entirely due to my age - sometimes you just don't know what you don't know until someone tells you!

Anyway, I sold up when I was 17 and moved out of my father's home (which dramatically improved my standard of living - my dad also had issues), got a reasonable car etc.

AFAIK, you can legally register a company (not always a good idea by the way!) when you're 16. You can also legally work at 16 and banks should let you open a business account at 16.

However, there are lots of problems, including potential for the disruption of your education (though I got excellent GCSEs and perfect A levels). You can legally sign some contracts subject to the Minors Contracts Act (which I suggest you read and digest) but you can't borrow money, most solicitors won't represent you (e.g. to collect debts) and if your business backfires, your parents could be liable. Most customers won't take you seriously as well - it doesn't go down well when your supplier's voice hasn't broken.

Then there's tax. I still have no idea how this might work for someone under 16 but my guess is you'll be relying on not being caught. I don't recommend it.

My experience suggests that it can be done but you'll have twice as many hurdles as your competitors, you'll be extremely busy with school (which I still think is more important) and you'll be stressed - which can have an especially large impact when you're young. Stress is still a major problem in my life.

I've not looked at Princes Trust but it's fairly well known and might be worth a shot.

More generally, your business area seems extremely vague. Making half decent video games is extremely challenging, even for those who have spent a good many years learning to program. You could well be 18 by the time your Flappy Birds game is done! Equally, it's hard to make money with hardware as your competitors will be Chinese factories. If anything, this is a better reason to reconsider than your age.

 

[toastking]

This is a Princes Trust case all over. I've done a bit of work with them due to recommending them to a large national company to be charity partner and having my bluff called to present the case for it...

They can lead you through the process of what to look for etc. Although they are not the only ones I'd look at the partners of startuploans as they have them listed on their website and they will offer you local organisations who can give you advice as they'll have seen this sort of thing time and again.

I've never liked the Apprentice personally but the young apprentice used to have people starting businesses already and all under 18. So there must be a way to make it work, unfortunately I believe that 'way to make it work' might be running it in Mum or Dad's name.

Sorry I cannot help more but if you need help picking out a good organisation that you can trust let me know as I have contacts in Princes Trust who can provide me numbers etc. if you cannot find them easily. Good luck.

 

[HazelC]

Hello Alex

Well done for wanting to run your own business.

For contracts and other legal matters you need to be 18 or older, however there are some businesses you can run when you're under 18 or have a family member who maybe willing to help.

The Prince's Trust helps young people 13 - 30 who want to set up their own business.

Have a look at their website http://www.princes-trust.org.uk/need_help.aspx

I was going to recommend Princes Trust too

 

[myfairworld]

It's hard to start a business at your age - at least without the support/understanding of your parents. I've known one or two people of your age who've run small businesses but their parents were enthusiastic about helping them. But don't give up. The UK really needs young people like you who will give business a go.

You've already had advice about the Princes Trust and I know this is a great organisation and you should follow up that lead.

I'd just say that the best way into business is to have something to start with, something to offer people so that they can understand where you are coming from. Try to develop a game or an app or a video. Don't worry if it is simple, just make sure that it works well. You are obviously 'into' IT but many users of games, apps, videos, are not really into IT and just need something which is simple to use but works well and is useful or interesting to them.

Also work on your Mum! Okay she doesn't understand business but she wants to support you? So it is hard when you are just 13 but rather than being exasperated that she doesn't understand try to start to teach her about business. Work on it step by step as you learn yourself. It won't be easy but it might pay dividends in the long run.

Good luck!

 

[paulears]

Oddly, although the minimum age is often quoted as 18 for signing contracts, you can sign them younger, if they are reasonable and unlikely to be challenged. In practice, it means the under 18 party can often get out of the contract, while the over 18 year old party cannot. There is apparently, some element of the Sale of Goods Act that covers contracts for necessities - so where a minor enters into a contract for the supply of essential items, then it is enforceable and they cannot get out of it. Computer stuff would seem to not be essential so you can go into business if you like, but people may be wary of you. Getting a bank account might be a bit tricky too, but as long as you don't want credit, it should be OK.

 

[HazelC]

Really good advice @myfairworld - I liked your response a lot

 

[Will_Authentic_Style]

I started a website and forum at around a similar age to 13/14 which grew into something which gave me a little bit of revenue, which I sold later in college. What it did teach me though was a skill which got me into the web design industry and to currently having a small web design studio of 5 people.

My parents didn't fully understand why I was spending so much time on my computer at 13/14 and thought I was gaming too much. But it was that game that led me to create the website and forum dedicated to it, that ultimately led me to find my love of design and web design in particular.

I'd say go for it.

Start doing what you want to do at home in every bit of spare time you get and see where it takes you.

 

[Paul Murray]

What sort of languages/platforms are you looking to develop in/for?

Definitely don't be put off by your age but I wouldn't rush into starting a fully-fledged business just yet as it can quickly zap all your creativity and willing to work. To run a business you need to know a hell of a lot, not just about what you're making/selling, but about finances, law, marketing, not to mention you'll need money to pay overheads and cover development costs.

You're still young, so definitely focus on getting through school first as a back-up plan in case your venture doesn't quite take off. But certainly hone your skills and look for opportunities to learn more. An apprenticeship in future at a software development agency would be a good call, and you could potentially walk into a job straight after.

Look into digital/web agencies too. I have a friend who's a developer in a web studio, but they do a lot of apps and programmes too. They create fun programmes and gadgets using a Raspberry Pi in their downtime and a lot of the time these turn into projects they can sell onto clients or help them in their day to day lives. So I guess I'm saying don't just focus on 'traditional' software, but think about software that you will find useful that you can show potential employers or maybe even sell/license independently in future.

 

[Paul Gregory]

I started work at 8 in a timber yard, my boss would be locked up for that these days.
You say video games and hardware, I am not much of a one for video games but that is programming, learn programming now and you will be a rich man!
Hardware is more me, learn electronics, logic gates, boolean algebra, Ohms law, maths,learn as much as you can.
I am trying to think of what you can sell, your not old enough for ebay, ...batteries to school friends, they all need batteries.
Age is a problem these days...all I can say is learn the subject, you will be rich one day if you do.
Don't worry about the business learn Ohms law, learn about capacitors, inductors, transistors, hall sensors, logic gates, diodes etc etc.
Get electronics kits and play about with LEDs and transistors, opamps, 555 timers.

 

[paulears]

Interest seems to have gone - he's not been back since posting?

 

[Paul Gregory]

Get the biggest solar panel you can fit on your school bag, a light flexible one ( not glass because it is heavy) and the biggest rechargeable batteries you can carry. Set up lots of circuits for charging phones ( phones are 5V), sit by the window and charge phones for money, whilst learning to control phone chargers.

 

[Paul Gregory]

Ask the physics teacher to help, maybe the economics teacher too.

Show them this thread.