Send Your 8-Year-Old to Business School
As the summer heats up, you'll inevitably see plenty of neighborhood kids hawking their wares -- a 25-cent cup of lemonade.
But that's not the only small business young ones are getting into. Kids are discovering options with low start-up costs, and are quickly becoming the next wave of entrepreneurs. The book Better Than a Lemonade Stand: Small Business Ideas for Kids was even written by one: 15-year-old Daryl Bernstein.
Running their own business can teach children important financial management and planning skills. And even if your kids don't seem to have the entrepreneurial spirit, there are plenty of ways to help them get started.
You're Never Too Young
Silicon Valley-based BizWorld Foundation was created to help kids learn the skills needed to be an entrepreneur. Here, youths not only learn about running a business in theory -- they actually experience doing so firsthand.The foundation was founded in 1997 by venture capitalist Tim Draper after his 8-year-old daughter asked what he did for a living. He decided to show her, using a business of selling friendship bracelets as an example. BizWorld has grown rapidly and is now worldwide, with branches in 84 countries. About 150,000 students from grades three through eight have gone through it, says program coordinator Kristen Mjoseth. The two different programs ($89 each), which are available to teachers or parent for downloading, are BizWorld and BizWiz. In BizWorld, kids get a chance to experience the real world of business by applying for jobs, making a product and ultimately selling the product; in BizWiz, children learn about savings and investing.
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