Would you let your child start their own business?
@beautyqueen26 (16030)
United States
September 8, 2007 4:27am CST
Recently, I was watching a talk show about whiz-kids that have started their own highly profitable business, selling their own products. One kid was selling her own hand-made bracelets, while another was selling custom T-shirts. And, I thought, what a neat way to teach kids about money values and help them understand the concept of earning a living, even at a young age.
My little kid is way too young to be thinking about money and business, but one day I think it might be nice for her to explore the business world, even if she's still a kid. Would you allow your child to open their own business or website to sell products? At what age, do you think a child would be old enough to run a small business (with an adult's help)?
1 person likes this
7 responses
@mafe_2007 (29)
• Philippines
11 Sep 07
it's quite a very nice idea. Yes, why not. i think at the age of when he/she can already recognize the value of money. i should first inculcate to him/her that value of living, money and things around him/her, then when he's/she's ready then I think that's the time for him/her to be able to understand the value of making a business and yes, with my full assistance.
@mafe_2007 (29)
• Philippines
11 Sep 07
i started in buy and sell buss. at the age of 6, consignment business at the age of 7.
@sephrenia (567)
•
8 Sep 07
This is a difficult question to answer because not all parents teach their kids about the value of money at the same age. Mine learnt about the value of money last year and know that if they want something they cant afford, they have to save up for it.
I don't think though that I would let them start their own business even with my help until they were old enough to appreciate all the ramifications of success and failure and what can happen if they employed someone and their company went bust and how it could have a rolling effect on other people, both good and bad.
I figure that they would have to be around 15 or 16 before I would even let them consider the idea of running a business and even then I would want them to come up with a business plan that would pass the local young investors scheme board as being fully viable.
@beautyqueen26 (16030)
• United States
8 Sep 07
Many good points. Yes, it's true, children are not always in the best position to understand all ramifications of failure in business. And, certainly they would need guidance for more complicated issues like taxes and such, and knowing what to take as a deduction.
1 person likes this
@acuityplague (763)
• United States
9 Sep 07
Yes! I would not only let them, I would encourage them. I have three kids and when they were younger (7,8,9) they ran a very successful drink stand during the summer months in NC. They did it for years and made enough money to buy whatever they wanted during the summer. When we moved to Michigan they tried the first year we were here, but people just weren't interested in their tasty beverages. lol
I guess the soldiers were really the bulk of their business. We lived on Fort Bragg and the kids put flyers up in the day rooms of various units. The single soldiers would actually drive from their barracks to buy koolaid and lemonade from the kids. They tipped good too!
I wish they had as much drive now.
Lazy teenagers..sheesh.
@tad1fan (3367)
• Canada
10 Sep 07
Yes and I have.....my daughter,10 likes to design and colr things....she does containers and t shirts right now....there are kids at her school who ask for these and she makes them for them....they provide the tees and containers,she supplies the ideas and charges them 2 dollars an item....she loves doing it
@williamjisir (22819)
• China
9 Sep 07
Well, to this question, I think there are both advantages and disadvantages.
During school years, I don't think that it is a good idea to let them start their own business. I don't want my kid to distract his attention to study, which is more important than other stuff. If the kids can study well and master more knowledge and skill at school, they will be able to do a better business later when they grow up and have their own job.
Of course, it could be a good idea for the kids to start their own business to let them have some business experience as a child.
@marshall_blake2000 (304)
• United States
8 Sep 07
yes I would let my children start there own bisness. How ever I might have a problem with the kind of bisness that want to start. So it would be some thing they would have to set down, and talk over with me awhile.
Also I would keep up on how or what bisness decisions thay make to keep them safe. Othere then that I do not think its uncommon for kids to want to make money, and explore there world. Its a good thing I believe.
