ZM

What are the limits for a high school student who wants to run a business such as an online advertising based one.

echick425

I don't think there should be many. If you choose to do it on the up and up, you may run into issues of having a bank account solely in your name in order to receive payments. You likely will not be able to accept credit cards except through PayPal since you must be 18 to sign the merchant account contracts. If you are 18, there shouldn't be any restrictions other than time. If you are under 18, you may need someone to assist you with contracts you encounter. If you choose to form something like an LLC, then you can make someone part of your company but not give them actual ownership of the business.

rayt7216488

Great question! You can run a business of your own at any age. The key is to really make money at it, you will want a legitimate business license, Tax IDs, etc. The good news is the costs of business are tax deductible and you don't even have to show a profit for 2 years but you MUST show the intent to make a profit. The library has a number of books for teens... ask your librarian. (Email me if you come up dry. I have a list of them) There's a group called Junior Achievements across the US and even in other countries that can help you. You should consider writing a business plan and discussing your plan with your parents who can help you more than any of us. Your answer is as easy (or as hard) as finding a need and filling it. Be the "go to" guy for whatever industry you choose whether you sell products, services or a combination. There are some known businesses that started at home... Coca Cola, Dell Computers, Microsoft, Ebay, etc. Why not add your business to that list??? Whether you run a lawn service, paint service, selling video games, designing websites, tutoring younger kids, or collecting aluminum cans... you can turn your time and energy into cash. You can also chat with your school's guidance office about a work permit if you want to try working for an employer while starting up your business. Don't wait for your ship to come in ... swim out to meet it.

SAJP1448

The main challenges you will encounter will be in the areas where contracts are necessary. Due to your parents bearing ultimate responsibility for your actions, many companies will want your parents to endorse your actions. Formation of a corporation in one form or another would be the best option as it will limit some of your liability. Research your business before putting yourself on the line and ensure your parents will support you. Also, watch out for people who will see you as a target to be taken advantage of due to your age. Best of luck.

PhilipR

Hi,Great post. It's not easy to open a small business. Most small business fail (statistically). I lost a lot of money trying to open a website.I was really down about losing my money when a friend introduced me to a really cool way to get started on the web. There's a company that matches companies selling products with people that want to promote the products (the name of the company is Keep Clicking). I joined for free (actualy, they paid me $10, but I didn't get that until I had $50 in my account which took me about a month).Most of the products I promote are free trial offers (it's kind of like magazines where the person can try a month free). The products usually ship for $4, and I get about $17! So I have no inventory, and I made over $1,200 last month.Anyway, it's the best way to make money that I've seen, and it's free.Best of luck to you!http://www.keep-clicking.info