Legal Help Needed im 15

[elliot15]

Hi,
I'm 15 and am sort of running a business on ebay.
What i do is go to auctions and buy in bulk and then sell it on ebay.
I have created an ebay shop called EJMeads and it is currently turning over £500 a month.

I was wondering if there was any legal implications i need to be thinking of like.
How old do you need to be to start a business because i only started ebay as a hobby but id like to turn it in to a profitable business.
Do i need to register as a business, or as a sole proprietor or anything else.
In the near future i may need to employ people,is there an age limit that stops me from doing this.
Also do you think i need to speak to anybody about what im doing.

Thankyou

Elliot Meads

[GuyBBY]

Hey Elliot,

You should definetly seek some advice, whether it is from a lawyer/accountant, or just by researching with other eBay business owners. I am sure if you search for some of the eBay businesses out there they will have an email contact and you can ask for some advice, lessons from their experience, and the like.

Also, check out this link:
Keep Your eBay Biz Legal - Entrepreneur.com

I don't know how it works in Englad (I assume that is where you are because of the denomination), but regarless, it is one thing to sell a few things here or there, but you are now at the level where you should be thining about tax implications and liability etc.

Again, I have never done business on eBay but once you hit that mark of a certain income amount, as well as any liability regarding return policies, inventory, the products you are selling, it is time to ask for some legal and financial advice.

Maybe a close friend, relative, or professional friend of your parents/guardian could lend you a hand.

Hope this helps a bit,

G