Help your teenager to launch a start-up

If you have are the parent of a resourceful teenager, encourage the nascent business attempts of your child. However, don’t go overboard with it either. Serious investments should not be made unless you have tested out the idea first. Here’s our guide to getting your teen’s start-up started, describing what you can do as a parent at each step.  

Step 1: understand, modify, and test the idea  
Before doing anything else, talk to your teen. Understand the full concept, and the level of commitment on the part of your aspiring entrepreneur. A start-up is not like a stall in the school courtyard during a two-day student fest. It’s a company, and whether it succeeds or not, it might go on their resume. Next, appraise the business possibilities practically and suggest modifications where you see a gap. If you can’t do it, don’t hesitate to get it checked by a subject matter expert. Finally, test the idea within a trusted circle of family and friends, being careful who you choose to reveal it to.  

Step 2: register the start-up  
In India, only adult persons can register a company. While the Companies Act of 2013 does not mention any age criteria, it mentions that at least 2 directors are needed. A director must apply for a DIN (Director Identification Number), and the minimum age for obtaining a DIN is 18 years. So you can get the DIN in your name, and co-opt your teen as the MD or CEO. To register a company in India online, you also need to get a Digital Signature Certificate (DSC).  A digital signature is in electronic form so it ensures authenticity, privacy and security. Next you need the 8 digit DIN, and then you can apply online for the registration of the company.   

Step 3: create the digital identity of the start-up  
Help your teenager buy a domain name, create a website, create a LinkedIn page, and social media handles as needed by the business type. Make sure the same name, email ID and mobile number is used everywhere for business contact – ideally it should be your child’s – because it’s his or her idea after all.  

This will take you about 4 weeks end to end, done between your work and your teen’s regular studies. So it’s definitely worth trying out.