Online Business Start
Teenager who wants to start online business?
Can I have my own business or will it need to be under my parents name?
My cousin and I want to start an online business (both 16 years old). How do we start business? Is it a Partnership? Under who’s names? What do we need to file?
Hi Lucilles, for accounting purposes, register a business. In your country there should be a registrar of businesses. If the law allows registration of a business at 16, then go ahead and do it. In my country, the minimum age to be a sole proprietor is 21.
You can register a partnership if you and your cousin are on good terms. However, I caution you that money issues can stress relationships. So if you do register a partnership, make sure you also have a dissolution agreement.
More important than your business structure is your business idea and its marketing. I suggest you and your cousin could start with a Blog Shop. This is a popular way to get free traffic to build an online business. You can start with registering at http://www.blogger.com and if you are ready for something more advanced, use WordPress: http://www.wordpress.org
How to Start an Internet Business – Video 5 of 10
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