Thursday, October 19, 2006

Starting a business good idea or not.? -

I know someone who wants to start a business. Specifically software for the iphone (they won t do the programming). They also want to spend about $700-$1000. Also the person is 13. Any advice for them?

I say it would be a great leaning experience and looks great on a application for college or resume, especially at that age.Do it and good luck.Make sure your numbers add up, most start ups fail because they don t look at the finances. also it is important to pay yourself from the business, if you work for free to long you will stop working!

Unfortunately, the person who is 13 years of age does not have the legal capacity to contract with any business entity or enter into any consultancy/license agreement here in the U.S.

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