What would be a decent age to start a business?

Question

Hi, Im currently 16 and I think I have a pretty good business idea for the town I live in, in Northern Ireland. Where I live there is NO provision for young people so all we can do is hang about streets or Tesco. Me and a friend have come up with a business idea for a cafe come music venue for young people. We are both 16 and dont have any business experience (apart from a GCSE in business studies if that helps?) I am not sure what age you are able to set up a business like this and how much capital etc etc would be needed.

Answer 1

You should study a bit more-- at least finish secondary school or whatever institution you study in (I'm from the U.S. so I'm not sure lol). Also, to gain a little working experience in your field would be very helpful(a year or so). With your working experience you should have saved up that money for start-up capital. So, in a few years would be a good time for you and your friend to start seriously looking into starting up a business.

I hope I've been helpful. Good Luck!

Answer 2

I think that it's a great idea how you want to start a hang out for ppl. Just go for you dream, speak with the mayor of the town and ask him if it's ok. After that, you can look at renting places and, if ppl give you smart mouth, u can just say i got permission from the mayor.

Answer 3

I say the younger you are the better.

Running a business is a lot like a baby learning to walk.  You MUST fall in order to learn how to do it right.  

The younger you are when you start the process, the sooner you will be able to run a great business.

I say GO FOR IT!

Answer 4

What age?

The sooner, the better.

Have you tried the Princes Trust?  Also search online, if you have not done that yet maybe you not cut out.

Another tip ask banks like HSBC and Barclays for business starter packs. They come with Cd's and step-by-step guides. This is basic stuff kid.