My daughter (14) wants to start her own business of baking and selling cookies. Her studies are above average but could be improved. Should I support this idea?

Definitely! Perhaps managing her business could help her do better in maths, languages in her course of communication and sciences while baking and accounts. Supporting her would mean the world to her as long as she agrees not to let her grades slip. Your support in her interest may help her realised not to let her parents down in terms of wanting her studies to be on track. She is so lucky to have her parents looking out for her.

Questions is, why not ? :)

But as always, one should finish at least tertiary studies as much as possible for backup and basic as a fallback plan because if it doesn't work out, she can always go back to work for someone or do something else. I believe that parents should always be supporting and encourange children to persue their passion and interest and start young because that's the best time without much commitment and responsibilities, so they can learn / understand better and go much further that us.

Why not encourage and help her to register HDB home sole proprietorship and take some home order for events / birthdays / parties and sell cakes , muffins and cookies. But have a talk with her and both agree that studies must comes first and as long as she do her best in her studies, you'll support her in the business.

Who knows, maybe before she enter university it is then possible to have the scale to make it a shop and business to fund her own university fees and carve out a living and passion or even be a famous chef one day ! :)

Yes. You should support her. Who knows. She might be a famous Baker or owner of her own bakery. But she MUST discover how to sell, ways to sell and the pricing also must be reasonable ect.

Of course! There is nothing more important than a supportive parent.

Wanting to start her own business is commendable, and think about all the life skills she will learn along the way:

1. Budgeting (cost of ingredients, cost of packaging, marketing costs)
2. Thinking of ways to make the business profitable
3. Thinking of ways to get the word out

These are the exact skills that students in business school are taught, so I don't see why not!