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How to start a business if you’re under

salma khan (salmakhan) on December 21, 2022
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If you're in high school, you might have the independence needed to manage your own company successfully almost entirely on your own. However, there are a few monetary and legal issues to take into account.

If you're under 18, you probably need parental approval before you can begin. Depending on local and national law, it is typically illegal for minors to launch their own business or enter into binding contracts.

A business bank account must most likely be opened with parental assistance. Once more, this is subject to local legal restrictions. To sign up for many services, including Shopify and PayPal, you must be at least 18 years old. As a result, parents are held accountable in court for their children's behavior on these various accounts.

Parents and teens should talk about how much involvement each will have, how roles will be assigned, and what protections will be provided for each. Parents are urged to speak with their accountant and attorney because this information is not a replacement for such counsel.


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