Turning 18? You can start a business.

Plans have been laid out to make it easier for young entrepreneurs to go into business.

The Finance Ministry is proposing a delinking of the age of majority from the age of contractual capacity, reducing the age from 21 years to 18 years.

The move is the result of feedback received by the Pro-Enterprise Panel that legal barriers that prevent young people from starting and conducting a business should be removed.

To change will however require the amendment of a host of other laws, and Civil Law Act which the Finance and Law ministries have drafted amendments to.

The two ministries are now seeking feedback on the Consultation Paper both have released with the draft Civil Law (Amendment) Bill.

The consultation period ends on Friday, 19 September.

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