Age Limit for starting a business

[Crilla]

Hello. Is there an age limit for starting a website and making money for it

I also want to start up a magazine company sometime. What is the age limit for starting a company? one last thing: How much does it cost to register a company name?

[daniel.sanchez]

Hello. Is there an age limit for starting a website and making money for it

I also want to start up a magazine company sometime. What is the age limit for starting a company? one last thing: How much does it cost to register a company name?

Legally speaking, you can't own a legal entity ( corporation ) until you reach the age of 18. But I started my first company when I was 16 without the need of anyone.

Start a website with Zlio.com or Wordpress.com and start learning the basics of marketing. You are going to need about $10 to buy a decent domain name, make sure you find one topic you love to talk about. Or simply register yourname dot com and start creating a following!

[Crilla]

Legally speaking, you can't own a legal entity ( corporation ) until you reach the age of 18. But I started my first company when I was 16 without the need of anyone.

Start a website with Zlio.com or Wordpress.com and start learning the basics of marketing. You are going to need about $10 to buy a decent domain name, make sure you find one topic you love to talk about. Or simply register yourname dot com and start creating a following!

Really? i already have a dot com name for my website. I have heard that many people have started company's at age 13 or so so why 18?

[canadascoffee]

from my brief semester of business law, i inferred that the age limit of 18 is because of counterparty risk.

basically, anyone that is under 18 is legally able to sign a contract, but can break that contract at any time. therefore, a car dealer, bank, etc. wouldn't want to sign a contract where the counterparty can break the deal at any time.

therefore, it became a defacto sort of policy for anything commerce-related.

but you can certainly buy a website before you're 18, but if you're going to accept payments through paypal, etc. then you'll need a legal adult to actually be the one accepting money. you can obviously collect checks or cash, it's just that big companies can't judge on a case-by-case basis.

i started selling on ebay when I was 13 thanks to a father that permitted me to do it under his name.

[Librazoe1982]

You may need a co signer who is over the age of 18.

[studynz2008]

You should be on your legal age to be eligible to handle your own business.

[RLorenzen]

There is no minimum age to register a legal business entity (sole proprietorship, partnership, LLC). There is a minimum age however for a business checking account. Therefore, you can register a business while you're under the age of 18, but you cannot open a checking account for it. There's a way around it though. Form an LLC and have at least one partner in the company that is over the age of 18 and then the entity can open a checking account, but only the partners 18 or older can have their name on it.

There is no minimum age to register a domain or own a website.

[Bill Moran]

Hi Crilla

Welcome to YE and good luck with yourventures

Bill Moran - UK Based

[cybergift]

Are you really 13 yo Crilla? If you already have a domain name that means you have a co signer.

What kind of online business do you want to build?

[Crilla]

Are you really 13 yo Crilla? If you already have a domain name that means you have a co signer.

What kind of online business do you want to build?

Im younger than 13.... although i still know how to start a business (i'm quite smart)

The business i want to start is on my website. I want to let people become a "Subscriber" and pay 15$ a year. What is the minimum age to do something like that?

[WilliamDyson]

I suggest you use justhost.com and paypal business buttons to accept subscription fees off bank cards easily, because they have already made a specific button for the subscription process.
paypal.com/cgi-bin/webscr?cmd=_pdn_subscr_techview_outside

[Whatzees]

Legally, You are not old enough to have a registered business.

You are not old enough to be VAT registered, pay taxes, own a Ltd. company, an LLC or anything.

No laws stop you from selling online, however, you will have to be over 18 to use that e-commerce software or web host etc.

I own an online retail business supplying gadgets, gifts and curiosities, cost me 5k (which my parents invested) to set up - stock, domain, SSL certificate with an authentic LogoTrust etc. Im in the first year with a monthly turnover of 2.3k - profit just around half.

And im 13......

[bdunndchi]

If your age is a problem, you can always find an older partner or have a relative be a partner and take care of the parts that require a certain age. Don't let anything, especially age, keep you from pursuing your dreams.

[WilliamDyson]

Legally, You are not old enough to have a registered business.

You are not old enough to be VAT registered, pay taxes, own a Ltd. company, an LLC or anything.

No laws stop you from selling online, however, you will have to be over 18 to use that e-commerce software or web host etc.

I own an online retail business supplying gadgets, gifts and curiosities, cost me 5k (which my parents invested) to set up - stock, domain, SSL certificate with an authentic LogoTrust etc. Im in the first year with a monthly turnover of 2.3k - profit just around half.

And im 13......

Your lucky, 5k?? my dad won't even give me £10. It's not like he can't afford it and he owns his own business so I don't know why. He just doesn't think I should start a software development business. Also just to add, as far as I believe there is no age limit on income tax, it is just officially when you start turning over > 6k, although I like to see them sue a 15 year old lol.

[stoneman]

LOL. I thought the question was about a maximum age! Being Young Entrepreneurs and all. I think I started my first business when I was 14 or so, but back there in the dark ages no one really cared and most things were done in cash.