Kid business, is it possible for a kid to own a business.? -

I am a kid of 13 years of age, soon to be 14. Currently my life is boring, so I thought of creating an online business. I have contacted many people whom have helped me organize this business, and have given me tips on ways to improve it. However, I am still unsure on whether it is a good idea for a kid to start a business.

Unfortunately, as you are below the age of consent and can t enter into a legally biding agreement, most companies would be wary of doing business with you. But, that s not to say you can t do it (especially if you have the backing of your parents and they re willing for you to use their names)

How to figure profit percentage? -

So I am selling some stuff on ebay and such sites.example;cost for items - 10.00number of items - 24resale - 1.00 each X 24 items = 24.00profit = 14.00_____% profithow do I figure this up?

14/10 = 1.4 = 140% profit

In retail your selling price is 100% and all costs and profits should be expressed as a percentage of your selling price.In your case your cost of goods sold is $10.00 which is 41.67% of $24.00 and your gross profit is $14.00 which is 58.33% of $24.00You will have to subtract your expenses from the $14.00 gross profit in order to determine your net profit before taxes.Hope this helpsJerry-the-bookkeeper