Entrepreneurship and finance for kids
We have a global youth unemployment crisis. Stats SA Revealed in September 2018 that 69,000 jobs were lost in four months in South Africa. The average job occupancy period is estimated at 4.6 years and the average lifespan of listed companies is falling at an accelerating pace. Job security has all but vanished and the economy is uncertain. Another statistic claims that 65% of children entering primary school will end up working in a new job type not yet existing today. You will agree that the job terrain is changing. You will agree that in order to get ahead, your kids will have to be equipped with more than schools are offering.
You will have noticed that we stand on the verge of profound advances in automation, artificial intelligence, IOT, quantum computing, robotics, health sciences, nanotech and more. These advances in technology will stimulate even greater changes in the nature of employment as we know it now.
With all the advances, why then are we seeing such a massive decline in the job sector? In our opinion, it is due to a lack of upskilling required to keep up to date with technological advances. The need for basic labor skills are diminishing while the need for specialized skills are increasing. The secret in our opinion is that we need to inject a mindset that is constantly inquisitive to learning and improving so that individuals can empower themselves without having to wait for someone to dictate to them.
Innovative solutions driven by entrepreneurship whilst guided by a spirit of collaboration and protected by financial know how is what is going to ensure that our youth prosper. Entrepreneurship teaches about goals, planning, financial responsibility, supply and demand, relationship building and important life decision-making skills. Youth entrepreneurship provides the perfect environment to experiment with career paths, business ideas and self-awareness skills. Youth Entrepreneurship is the mature equivalent to playing dress-up allowing them to experiment with little risk. Entrepreneurship is a way for young people to take greater control of their lives and economic futures. In a world where nothing is certain, giving young people real tools to build their own future is absolutely necessary.
Entrepreneurship can be learned of which practice is key requiring passion and enthusiasm. Entrepreneurship can be adopted at any age however the younger the better. Practicing entrepreneurship brings forth an important life skill in the forms of grit and tenacity in overcoming failure and understanding that networking is vital to survival. The entrepreneur’s key to surviving is understanding business and personal financial fundamentals.
Our school system is inadequate and ill prepares children for the world of work and business and few teachers have the skills, time or resources to implement an extensive value-adding financial literacy or entrepreneurship programme. School do not teach basic financial skills and therefore many kids leave school without a winning financial formula and the necessary survival skills. The premise that good grades at school and then a qualification after will ensure job and financial security is no longer valid – the amount of unemployed graduates proves this point.
“Young Entrepreneurs” teaches children, between ages 7-18, vital entrepreneurial, financial literacy, employability and workplace readiness skills and helps them start and grow their own micro-enterprises in a fun and experiential way. Give your child a head start in life
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