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START UP GUIDE
Making Changes for Careers
Opening Minds to Enterprise
 
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YOUTH ENTERPRISE - START UP GUIDE

Considerations for young people

 

Everybody setting up a business will face challenges, however there are financial and legal restrictions that apply to young people that need to be considered.

Lack of money
Unless you have your own cash to invest in your business idea you will need to find an alternative source to fund your idea. If you are aged under 18 you are legally considered to be a young person and as a result of that you cannot obtain finance from banks. We identify a few sources of finance available for young people later in this guide.

Mixing Work/School/College Balance
Young people are further restricted by their age. Those under 16 are regulated by when they can begin work and the number of hours they can work per week. By law all people under 16yrs MUST receive a full time education. Please refer to the table on the following page to learn more about age restrictions facing young people.


Lack of experience
A lack of business experience is another obvious obstacle to getting your business started. You may feel insecure about talking with business people; Confused by all the business practices or feel like your ideas are not being taken seriously. Talking with people who have been in the same situation you find yourself in now is always helpful. They can give you hints and tips to deal with potential problems.

EXTRA RESOURCES AVAILABLE:

Youth Enterprise
We can help you via our associates or put you in touch with young people helped by the programme. Contact us on 01482 839479 for details.

Shell LiveWIRE
This online mentor service allows you to tap into a pool of experts with specialised knowledge.

The Prince's Trust
The Prince's Trust can put you in touch with a business mentor.

Young Enterprise
Young Enterprise has several programmes aimed at giving young people an understanding of how business works through running their own businesses.

Starting a business

 
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