Can you afford to help your kid start a business?

Why would a kid these days bother asking mom and dad for money? If your idea looks like it has legs just do a go-fund-me campaign.
 
dealmaker said:
Can you afford to help your kid start a business?

Amazon. Chipotle. GoPro. These household-name businesses were launched thanks to investments by the founders’ parents. But parents also have sunk plenty of money into their offsprings’ doomed enterprises, sometimes endangering their retirements and family relationships in the process. (Spokesman-Review)
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too lazy to read the article

i can afford to help my kid to start a business

the question is would i

if i would believe in him/her and in their idea , i would help, if not - not.....
 
qxr1011 said:
too lazy to read the article

i can afford to help my kid to start a business

the question is would i

if i would believe in him/her and in their idea , i would help, if not - not.....
More...

i remember reading while back that some British baroness was asked what she thinks about her son's business endeavor (he started some newspaper, and sank in it million pounds with not much to show for it after a year)

well, she said, if charlie will continue this way he will be out of his inheritance in less than 300 hundred years

maybe that's the approach to help kids to start a business :)
 
qxr1011 said:
i remember reading while back that some British baroness was asked what she thinks about her son's business endeavor (he started some newspaper, and sank in it million pounds with not much to show for it after a year)

well, she said, if charlie will continue this way he will be out of his inheritance in less than 300 hundred years

maybe that's the approach to help kids to start a business :)
More...

The young baron is smarter than you give him credit for.
He understands the importance of controlling the root cause (people's thinking)
that has as effect the way the world works.
 
qxr1011 said:
too lazy to read the article
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Read the post above before opening Dealmaker's link and was afraid it would be yet another multipage story like the one someone posted today about PRNewswire hack. Great report about the hack, but that was way more than a regular day of ET induced reading.
But nah... you are beeing very lazy

I wished i was that baroness but far from it and this "helping kids to start a business later on" has been bugging me for a while, so no definitive answer here, it would depend on funds available, funds needed and how serious the kids and their plans are.
As i'm not exactly extremely busy professionally at an age well below regular retirement, i'm also on the look out on what might interest them later on, setting up a business where they could join is also a possibility, albeit distant, as they are quite young.
A bit wary of parents setting their kids to takeover their business, which is very common in the trade I used to be mostly involved with. Not a very promising trade so not obviously a good choice for the kids, although when they are not bright, it is probably better than what they would achieve on their own. Yet if one run an oil or fashion empire, sure that looks OK even if the kid is bright...
 
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