Raising Entrepreneurs

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Young entrepreneurs, Carley Polk and Brooke Walz

Governments looking at ways to stimulate the economy could do well by harnessing the business smarts, creativity and enthusiasm of middle school students.

Last week, Port Coquitlam’s Kwayhquitlum school did just that when it held an entrepreneur fair for Grade 6 and 7 students.

Teacher Sam Hauck said 120 students sold products they researched, designed and made during the Young Entrepreneur Show, a program created by PowerPlay Strategies Inc. and sponsored by Westminster Savings Credit Union.

“The big motivation is that the money goes in their pocket at the end of the day,” Hauck said.

But it wasn’t all gravy. Ten per cent of the profits had to be donated to either the SPCA or the Gaby Davis Foundation, charities the students chose as their way of giving back to the community.

The young entrepreneurs also faced some of the debt issues facing many larger corporations, such as the automotive and media industries. Any loans they incurred during manufacturing had to be paid back and students had to have a written agreement spelling out lending terms.

It was an eye-opening project for many students, Hauck said, as they came to grips with the realities of running a business. The students couldn’t just sell anything — they had to do market surveys to find out what products to make, do detailed cost analyses and write business plans.

Source: Tri-City News