January 21, 2022

Beyond Going Long

Complete UK News World

Do you want to do business and you don't have 18?  It's complicated and you're going to a business meeting with your mom, but change is coming

Do you want to do business and you don’t have 18? It’s complicated and you’re going to a business meeting with your mom, but change is coming

  • In Slovakia, the law is strict, and you cannot do business on your own under the age of 18. In the Czech Republic, this is possible if the parents and the court agree. In other countries, conditions are more flexible or the age limit is lower.
  • An alternative for a Slovak minor, for example, is to get court approval and go to business negotiations with their parents, who also sign contracts. Some also circumvent the rules or conduct business formally from abroad, where conditions are more relaxed.
  • The changes are particularly required by SaS and the Young Entrepreneurs Association. The second package of labor measures, called kilečko, promised to amend the terms of business from the age of 16.

Young people are also interested in entrepreneurship. At the age of 18, more than 1,000 people have started their business in Slovakia in 2020. Some of them may be interested in doing business early, but the law does not allow such a procedure. Young people often do business in services and construction.

Slovakia is one of the countries with a high level of youth entrepreneurial activity. This is also evidenced by the results of the GEM (Global Entrepreneurship Monitor) survey, according to which initial entrepreneurial activity in Slovakia among young people under the age of 24 was higher than in many other European countries (19.2%).

According to the data

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