Young Entrepreneurs Need Positive Experiences

A business community will remain strong when a culture of entrepreneurship is encouraged and allowed to flourish.

This involves welcoming new businesses and supporting existing ones. It also means giving some thought to the future. In order to generate longevity in our business community, we must look to the younger generation and provide them with a positive learning experience destined to attract them to choose entrepreneurship as a career.

Creating an awareness of entrepreneurship at an early age is essential for continued growth in our business community. Educational institutions and organizations such as Junior Achievement are doing a fantastic job of teaching business concepts and reinforcing them through a hands-on learning component. These programs are largely supported by business leaders in our community and agencies such as Enterprise Fredericton.

Enterprise Fredericton dedicates resources and time to the development of programs aiming to promote entrepreneurship among today's youth. With the guidance of Enterprise Fredericton's Youth Entrepreneurship Development Initiative (YEDI), students have the opportunity to learn all about running a business. In-class sessions are taught by Enterprise Fredericton staff to middle and high school students during the school year.

During July and August the YEDI program holds a variety of week-long summer camps for children from eight to 15 years of age. These camps focus on the processes involved in creating a business, marketing products and promoting innovation.

They provide participants with a unique and positive learning experience. Students engage in writing a business plan and "apply" for a $20 start-up business loan. Then they create their product, develop a cost model and sell their product in order to pay back their loan. The best part is that they get to keep the profits. How many summer camps can we think of where participants actually make money?

What better way is there to promote the idea of entrepreneurship than by letting students build, showcase and sell their product. The lessons learned at these camps, and during the school year, help young people understand basic business principles and create excitement about entrepreneurship.

Entrepreneurship and innovation are essential components of any healthy business community. In order to maintain a constant flow of new entrepreneurs in our region, we must make a conscious effort to encourage young students to become engaged. Cultivating new ideas early will ensure business prosperity tomorrow.

For more information on Enterprise Fredericton's entrepreneurship programs and initiatives, please contact Enterprise Fredericton at 444-4686.

Lucas Roze is a communications officer for Enterprise Fredericton. He can be reached at lucas.roze@ent-fredericton.ca.

Published Tuesday July 14th, 2009