{"id":5860,"date":"2021-01-22T08:48:00","date_gmt":"2021-01-22T07:48:00","guid":{"rendered":"http:\/\/monitoringmsp.sk\/?p=5860"},"modified":"2022-03-15T11:28:10","modified_gmt":"2022-03-15T10:28:10","slug":"entrepreneurship-of-minors-slovakia-vs-abroad","status":"publish","type":"post","link":"https:\/\/monitoringmsp.sk\/en\/2021\/01\/22\/entrepreneurship-of-minors-slovakia-vs-abroad\/","title":{"rendered":"Entrepreneurship of minors: Slovakia vs. abroad"},"content":{"rendered":"\n<p>Every country benefits\nwhen young people choose to be entrepreneurs. There are well-known cases of\nentrepreneurs from all over the world who founded successful companies at a\nvery young age. Very well-known are the stories of people like Bill Gates, who as\na college student founded the software giant Microsoft, or Mark Zuckerberg as\nthe creator of Facebook. <\/p>\n\n\n\n<p>Only a person who is of\nlegal age can do business in Slovakia. The Trade Licensing Act determines the\ngeneral conditions for the operation of a trade by natural persons, namely: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Reaching the age\nof 18<\/li><li>Legal capacity<\/li><li>Integrity<\/li><\/ul>\n\n\n\n<p>A trade may be operated\nin the name and on behalf of a natural person who, due to lack of age or a\ncourt decision, does not have full legal capacity, with the consent of the\ncourt, if his\/her legal representative so proposes. This means that a minor,\naccording to this provision, cannot conduct business in his\/her own name, but\nthe activity is carried out by his\/her legal representative. The current\nlegislation also does not address the function of the managing director in a\nlimited liability company in the event that a young person who is a minor\nwishes to run a business in the form of a trading company.&nbsp; <\/p>\n\n\n\n<p>The age of majority is\nattained at the age of 18. An exception is made where the age of majority is\nreached by marriage before that age. However, it is not possible to set up a\ntrade even in this case, as the Trade Licensing Act explicitly defines the\ncondition of reaching the age of 18. Full-fledged entrepreneurship in the form\nof a trade in one&#8217;s own name and on one&#8217;s own responsibility is not possible in\nSlovakia for a minor, even with the consent of the court. For example, a young\nperson may inherit a trade, but even in that case he\/she must appoint a\nresponsible representative to carry out the acts connected with the operation\nof that trade. Even if he\/she has reached the age of majority, he\/she must meet\nthe other conditions for running a trade.<\/p>\n\n\n\n<p>Even in the case of the\nestablishment of a trading company, the conditions of doing business are very\nrestrictive for a minor. When a trading company is established, the person who\nis the statutory body of the company must also meet the age requirement of 18\nyears. Thus, a minor may own a share in the company, but cannot exercise the rights\nand obligations of a partner and is represented by a legal representative (most\noften a parent) in all legal transactions relating to the business. In the\nevent of a conflict of interests, it is necessary to appoint a conflict\nguardian to exercise the rights of a partner. The sale of a business share of a\nminor partner is subject to the approval of the court. <\/p>\n\n\n\n<p>Thus, a minor may be a\npartner in a trading company, but may not be its managing director. He\/she may\nnot be a partner in a public trading company, where it is defined that each\npartner must have legal capacity.<\/p>\n\n\n\n<p>The data provided shows that the number of people aged 18 who are interested in running a business as a sole trader has been increasing since 2015. The detailed results are summarised in the following table.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"http:\/\/monitoringmsp.sk\/wp-content\/uploads\/2022\/03\/tabulka-k-neplnoletnym.png\" alt=\"\" class=\"wp-image-5861\"\/><\/figure>\n\n\n\n<p>We can see an increasing\ntrend of interest in entrepreneurship in the youngest age group over the period\nunder review.<\/p>\n\n\n\n<p>Entrepreneurship for\nminors is allowed in several countries. <\/p>\n\n\n\n<p>In the Czech Republic,\nyou can start a business from the age of 16. The change was enforced on 1\nJanuary 2014 with the approval of the new Civil Code, which replaced the\nprevious legal norm (the same law is still in force in Slovakia). A key role in\na minor&#8217;s decision to go into business is played by a responsible\nrepresentative, i.e. most often a parent. Even if a minor entrepreneur has the\nconsent of his\/her legal guardian, this does not mean that he\/she can\nautomatically start a business. In addition, it is necessary to obtain the\napproval of the court, which will decide on the possibility of doing business.\nThe court does not only take into account the pursuit of profit, but also the\nexperience of the applicant and assesses, for example, education, knowledge of\na certain field, acquired work experience (for example, also on the basis of\ncompulsory school work experience) or previous work experience (the Czech courts\nassess, for example, what kind of temporary work the applicant has done in the\npast). <\/p>\n\n\n\n<p><strong>A sole trader who obtains a business licence at the\nage of less than 18 years is in the same position vis-\u00e0-vis the State as an\nadult sole trader.<\/strong>\nHe\/she does not qualify for any concessions (with the exception of standard\nstudent concessions if you he\/she is a student). <\/p>\n\n\n\n<p>In the same way, <strong>a minor<\/strong> may become a<strong> managing director of a company<\/strong> after\nacquiring legal capacity, but at least at the age of 16. Legal capacity is granted\nby the court on the basis of the Civil Code of the Czech Republic and the\nconsent of the legal representative is required (in exceptional cases this\nconsent is not required).<\/p>\n\n\n\n<p>There is also a\npossibility for entrepreneurship for minors in Poland. A trade licence under\nstandard conditions can be obtained from the age of 18 and registration in the\nregister (CEIDG) is also required. <\/p>\n\n\n\n<p>However, unlike Slovak\nlaw, Polish law does not explicitly require full legal capacity (age of\nmajority) to establish a trade (Slovak law explicitly defines the obligation to\nreach the age of 18) or a trading company (Slovak law also allows this). In\npractice, however, this means that this condition is unavoidable. A minor may\nbe self-employed, but provided that the activities he\/she carries out are\napproved by his\/her legal representatives (parents). However, this\nrepresentation affects all areas, as the minor would not be able to make\nindependent decisions in most matters. <\/p>\n\n\n\n<p>Entrepreneurship for\npeople under 18 is also allowed in Germany. Section 112 of the German Civil\nCode allows such business. Permission to run a business is granted by the\nso-called family court on the parents&#8217; petition.<\/p>\n\n\n\n<p>Entrepreneurship of\nminors is also allowed under certain conditions in Denmark, the Netherlands,\nSwitzerland, Estonia, Denmark and the United Kingdom. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Every country benefits when young people choose to be entrepreneurs. There are well-known cases of entrepreneurs from all over the world who founded successful companies at a very young age. Very well-known are the stories of people like Bill Gates, who as a college student founded the software giant Microsoft, or Mark Zuckerberg as the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[39],"tags":[],"class_list":{"0":"post-5860","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Entrepreneurship of minors: Slovakia vs. abroad - Monitoring MSP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/monitoringmsp.sk\/en\/2021\/01\/22\/entrepreneurship-of-minors-slovakia-vs-abroad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Entrepreneurship of minors: Slovakia vs. abroad - Monitoring MSP\" \/>\n<meta property=\"og:description\" content=\"Every country benefits when young people choose to be entrepreneurs. There are well-known cases of entrepreneurs from all over the world who founded successful companies at a very young age. 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