How to start a business if you’re under
salma khan (salmakhan)
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
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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