micky07's blog post - General update

Since I last blogged I've helped our son set up his own business!!!!(he's just turned 12yrs old now).As you are aware in my previous blog about his ICT results,he has started 'wheeling & dealing' in re-furbishing & upgrading computers & laptops.We gave him a £200 loan to buy equipment/tools/parts etc & he also bought a couple of 'faulty' laptops on ebay,mended them & upgraded them then sold them back on ebay & doubled his money.
I've also taught him about bookwork,expenses,gross profit,net profit etc.
I set him some targets 1)first £500 in sales 2)first £300 net profit in his business account(which I set up for him) 3)£300 cash,to be kept in secret place at home for buying machines etc at car boots & such like 4)first £1000 in sales & finally 5)first £1000 net profit in his business account.
And can you believe it,in less than 3 months he's just passed target No.5....£1000 (approx $1700) in his business account (& that's after paying us back our £200 !!!!!!
He's still got another 7 laptops (Acers with webcams built in) & 13 Desk Tops in stock.
His next target is a big one,£5000 ($8,300) net profit for his first year of business :-0
I'm so proud it hurts sometimes.