As a young entrepreneur I have found that the amount of help available is astounding. People want to help and support youngsters and encourage a ‘new wave’ of entrepreneurs. The journey I have been on has been a relatively smooth one and any issues or difficulties have been quickly overcome. However, as I am 17 I find that when it comes to spending/receiving money I am stuck. I was given a very generous amount of money as part of the Young Entrepreneur prize back in 2012 and have since opened my business bank account. This has not been a problem. I have been able to pay for things and really move towards officially launching a live website and selling designs. Although so far I’ve had to use my own personal account to pay for things and then write a cheque from my business account back into my own as the bank policy is that I cannot have a business debit card until I am 18 years old. (Which is less than a month away from now, but still…)
I am a young entrepreneur and a soon to be business owner, yet I have to write cheques to pay for things. I can use the internet of course, with services like Paypal etc… but wait, I have to be 18 to have a business Paypal account and supply them with the card details anyway! I am finding it increasingly awkward and difficult to get anything done without making the accounts look suspiciously messy with many payments to myself.
I think it is amazing that we have so much available for young people and for budding entrepreneurs of all ages yet when it comes down to the fine details everything begins to get tricky. I can understand there are policies and that rules can’t just be changed for one person but I truly believe that there is about to be a surge of young entrepreneurs and that there should probably be something done about this so that we are able to run a business in our own names and with our own bank accounts. The more we encourage young people to start up in business then the sooner this will be addressed I hope.
Do not fear, I will have my website up and running soon and will do my best to keep my books as tidy as possible until my birthday when I can finally receive a debit card and run my business properly!