Often the seeds of the future start growing in the mind of children from childhood itself. Different characters start taking birth in his imagination. Some want to become a doctor, some want to be an engineer. There are some children who say that they will grow up to do business. And if they are asked what business they will do, they don’t have many answers. But if the desire of these children to become entrepreneurs is given the right direction from an early age, then they can definitely move forward. Today there are many children around us, who are doing business along with studies.
This question must be arising in your mind that how can children below 18 years of age start their own business? What should they keep in mind? In this article we will answer these questions.
Amar Prajapati, 14, who lives in Gorakhpur, has started his own company, under which he is manufacturing LED lights and delivering them to the customers. So there, 14-year-old Simran Singh, a resident of Gurugram, started her own small startup ‘Safely Nomadic’, under which she is preparing ‘travel kits’ for children and women.
Amar and Simran are an inspiration to all children of their kind and also to parents. Because only with the support of his family, he has been able to progress.
Simran says, “A lot of times children have ideas but there are no people to support their ideas. That is why it is most important that parents and teachers help the children in their path to become entrepreneurs.”
1. How to work on Ideas?
Simran says about this that it is not necessary that you do anything new. She explains, “You can also work on things that already exist. You just have to come up with these in a better way and with a different USP. Like Facebook and Instagram, both are social media, but still different from each other. Similarly, think of something different, which people need. The second important thing is that you can also work on the business idea according to your interest and interest.
Simran says that many children are fond of baking or cooking, so they can start work from their home. Many people are good at art and craft, so they can create different types of decor products. You just have to have 100% confidence in the idea you are working on that it will work.
2. Try for Funding
Simran further says that children have to depend on their parents first for initial funding. Like his business idea was supported and invested by his parents. But apart from your parents, you may have many people you know who can help you. But for this, it is necessary that you keep your idea well in front of the people. First, you decide for yourself what will be your business model and after that, you approach people for funding. Also, try to work with the least cost in the beginning.
3. How will the registration be done?
We all know that it is not possible to register a business in the name of children below the age of 18 years. But that doesn’t mean you can’t start a business. Simran says, “It is also necessary to register, what business are you doing and at what level? For example, if you are delivering the things already available in the market to the customers in a different way and your work is on a small scale, then it is not necessary that you register in the beginning.
If your turnover starts getting too high, then you can register. Also, if you do business with something that you are making yourself, such as food or decor items, you may need to register early. But there is nothing to panic about that too.”
Amar Prajapati, who runs his own startup, says, “If you are below 18 years of age, you can register in the name of your parents. Like I have registered my startup in my mother’s name.
Similarly, by registering in the name of an adult ie a person above the age of 18 years for the food business, children can start their work. Apart from this, if you want to work on a large scale, then it is better that you consult an expert.
4. Keep these things in mind for marketing:
Simran says, “The best marketing is when people tell each other about your business. With ‘Word of Mouth’ you get a chance to connect with a lot of customers. You can also make better use of social media. First, see who you are making stuff for and focus on them. I make travel kits for children and women, so I contact this category of people on WhatsApp, Insta and Facebook.”
5. Business can be managed with studies
The biggest reason behind not supporting the ideas of children is that parents are worried about their studies. But Simran says that along with studies, activities like sports, art and craft and doing any work are also very important. If you want to study from a good institute in future, then your certificates for these activities are very helpful. Apart from this, making a mark by doing something different from studies increases the confidence of the children.
Education is very important, but it is also very important to increase the morale and knowledge of the children. So don’t stop your kids, but teach them how they can manage time between studies and their business. How can they grow their business along with studies. Because if children learn time management from an early age, then no one can stop them from moving forward. So if your child has a business idea in his mind, trust him and motivate him to move forward.