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Discussion in 'General Business Forum' started by TechFox, Aug 31, 2005.
How old do you have to be to own/run your own business in the UK?
Why are you under 16 yrs old? I don't think that's old enough to sell ciggies. :lol:
Why are you asking?
My brother is 14 and he wants to know.
I beleive you can start a business at any age, the problem comes when you need to make a legal agreement / contract.
Best to start a company with one of his parents on the board.
The trite answer is 'Old enough to realise that you ain't gonna get rich working for someone else('s dream)'
That said, VSHosting has it right - you need to have achieved the age of majority to enter into any legal agreement. The rest is just attitute, the right one!
An English Limited company can be incorporated with the directors being under 16 years of old subject to them demonstrating they understand the legal obligations they are undertaking.
Scottish Limited companies can only be incorpated so long as the directors are over 16 years old.
Is that the answer you was looking for, or do you mean more general?