Is there an age limit to have a bizzness?

Question

Is there an age limit to have a bizzness

Answer 1

Wow, I'm glad someone here has enough will power NOT to get hooked on phonics...

Answer 2

Yes and no.

There is no legal limit, but rather a practical one. If people won't do business with you for any of various reasons, then you don't really have a business. So even though you aren't prevented, legally, in practice you might have tremendous difficulties. And since doing business with you is utterly voluntary, you can't force someone to do so.

For instance, at age 6 you open a lemonade stand. The nature of the business makes most potential customers take the risks. You're not incorporated so they know they can sue your folks if you sicken them with the lemonade and for a quarter (or whatever!) who cares if it's not very good?

But at 8 you want to start a lawn mowing business. You are still not incorporating, it's a sole proprietorship. But, since you cannot be held to a contract at that age, no one wants to advance you money or sell you supplies on credit since once you have the goods, you can renege on the contract without penalty leaving them stuck. People refuse to risk hiring you because you cannot possibly be insured at that age so an accident while mowing their lawns (hurting yourself, another, or property) isn't covered and you are too young to be held liable so the best they can hope for is they can sue your parents. Unfortunately, the car driving by that was hit by the rock from the mower is driven by someone who can sue all of you, including the customer. A grown-up, or a corporation, doing the same mowing and accident can be covered by insurance so no one has to sue anyone. No one might risk investing in your business because of the contract nullification ability on your part (AND on the part of your parents; you might be the most earnest kid in town and would never nullify, but your parents decide being a young boy is more important and nullify for you and that's that. Knowing it's not all up to you can be quite a downer for investment.)

Old age can work against one as well. You could die any time. That's always true, but seems more important if someone's 93, eh? Debts die with a man except to the extent they are covered by mortgaged property so a normal business line of credit is likely out of the question unless you do business via a corporation which will not die.

Sooo... no, no limit in law, but very much so limitations in real life.

Answer 3

Nope, even small children can have businesses. The only difficulty is when they start to make too much money! Then you have to start paying taxes etc. Call up your local better business bureau, chamber of commerce, or even the IRS and they can tell you the tax implications for your area etc.

Answer 4

What the hell is bizzness? Learn to spell.

Answer 5

I don't think there's an age limit to have a business. However, I think you'll be more successful if you learn to spell before starting your own business.

Answer 6

probably should be old enough to know to spell buisness correctly. and i would say 21 at the youngest, unless its like a baking, or babysitting out of the home non contract buisness

Answer 7

No no age limit just gotta have business sense

Answer 8

Not really but you generally need to be 18 to enter into an enforcable contract.

Answer 9

as long as u can able 2 see the diff. between a plain paper & a Dollar

Answer 10

no, but it might help is you can spell, what are you selling?