Are we too young to set up our own business??

Question

me and my friend are both 18 and really want to start up our own business, we are both students coming to the end of our college course, we are both intellegent, mature, ambitious and have our heads screwed on! do you think were too young to open our own business? and also we have no money behind us!! how do we go about doing this!!

serious helpfull answers only please!! thanks xx =]

Answer 1

No your not too young... i have plenty of friends who have opened their business around 18.. the hard part is getting the money from a source that will not ask you for the money quickly and that doesn't have a high interest rate.. best idea is friends and family

Answer 2

no you can do it if you are both goal orienated! You could always try to get a loan for your business, which u will have to eventually pay back!  

Answer 3

I don't like to say it but if you don't have any money to start with then you probably wont go that far. I think you should wait a while and try to save up a little money before you do anything. I'm not saying that I think your to young, I just think you might want some money to be able to fall back on in case your business doesn't make it.

Answer 4

what country are you based in ?

Answer 5

Of course no, most of the people already financial independents at that age. First, think yourself. You want to start a business or work part time at home for extra income ?

If you choose to work part time at home for extra income, congratulation you can start it right now because i doesn't need any money to start. You can check it out at http://www.JobSubscriber,com/

it is a very reliable site.

If you choose to start a business, you will definitely need at least USD 50 for online business, those money will need in advertisment, get products or build your site.

One of a good online business is selling ebooks, which are highly demand by the market now.

Imagine if you could get 10 top ebooks for USD 10-20.

And you sell them for $20 each.

You make 5 sales per day.

So you will earn $100 per day which is $ 3000 per month.

What you have to do is get your product, a site and advertisment it.

You can try get ebooks from http://ebksclub.com as their product are pretty good.

.

Answer 6

You're not to young, but you have a major handicap... money or the lack thereof.  Do you have any work experience?  Any job skills?  If you're going to apply for a loan to start your business, you need to show the bank that you have the wherewithal to make the business work.

Before you go any further, I STRONGLY recommend you contact the Small Business Development Center (at your local community college) and talk to them; the counseling is free.  Then sign up for the NxLevel Entrepreneurial program...  it's a 12 session course that walks you through the ins and outs of starting or growing your business, and as part of that you will write a business plan; it makes you think and put into writing what your business is going to be.  At the end of the class your plan will be reviewed by a lending professional, and will be critiqued, telling you the strong points of your plan AND the weak points.  

Then you can work on the weak points and hopefully get it into shape to actually present to a lender and get the loan you need.  There is a cost for the NxLevel program but it’s a lot cheaper than losing your investment.

Even if you hire a professional to write your plan, you should still take the NxLevel course.  It saved me from going into a business that would have failed within a year or so, taking my investment with it.  

Business plans may be a pain in the butt to prepare, but without one, your business is doomed to failure.  To start with, you won't know what your startup costs are going to be, what kind of income to expect, what your ongoing expenses are, who your competition is, and even whether or not you can make a profit.  Without a GOOD business plan, you will not be able to get a business loan to get your business off the ground.

Answer 7

You need money. If you can do it in your own home, it is a different story. You could start from home, though. There are KIDS who have their own businesses, don't worry about it. If you really wanna do it, you have to understand all aspects of business, so learn about it all.

If you can find others who can help fund the business, that's great, too.

Answer 8

No money, no business.  It takes capital to start a business.  

Answer 9

As long as you have enough money behind you, and some to use just in case things don't work out. If you don't /have/ that extra money, then don't bother, because if something goes wrong and your business doesn't work out or something... Then, well, you're screwed if you don't have that money.

Answer 10

I think your old enough.But you might want to get money first.

Answer 11

how your credit get that checked  if u don't have any buy a reasonable car and build you credit. that a step in the right direction if u live at home save as much as you Lady's can go to the S.B.A get as much information on the business as you can and they will help u ok BE care full  there a lot of scam out there too been there before