In American society today, children and teenagers are surrounded by businesses of all sizes, from large multinational corporations to local mom and pop shops. For many kids who want to be business owners, they have to wait until college to get a formal education in running their own enterprise, but it doesn’t have to be that way. In fact, it probably shouldn’t be that way. Becoming a successful business owner is a long arduous process, and providing children and teenagers with entrepreneurial tools at a young age can help them realize their dreams even if they later decide not to go into business.
What do students gain?
Early education plays an important role in developing characteristics that are critical to become successful entrepreneurs. Self-confidence, autonomy, a strong work ethic, ambition, empathy, and “an internal locus of control” are essential characteristics of an entrepreneur, giving them the drive and personal abilities to make their goals a reality. Entrepreneurship education is an effective tool for instilling these particular qualities in children. These programs reduce apathy in participants and increase their motivation to achieve success, which plays a significant role in motivating people to become entrepreneurs, particularly young women. These educational exercises give students a greater sense of self-contr
ol and higher self-esteem, and when programs utilize hands-on, experiential learning techniques they can also increase innovative thinking skills.
Entrepreneurial Education has long-term benefits
This education has a real impact on the success of start-ups and business owners. Developing entrepreneurial competence in adolescence increases the likelihood that those individuals will be successful as adults, and one study found that developing entrepreneurial skills as a teenager is a greater determiner of progress than having a PhD or receiving support from friends and family. Furthermore, cultivating entrepreneurial skills in teens may also improve the likelihood that they successfully start multiple ventures.
Additionally, if entrepreneurship programs focus on science, technology, engineering, or math (STEM) applications, they can also play a role in promoting STEM education among adolescents. Programs provide adolescent teens with role models and a peer group of like-minded individuals, which are two important factors for encouraging young people, particularly young girls and minorities, to consider STEM careers.
Most importantly, though, cultivating entrepreneurial qualities in students helps them across every profession. Innovativeness and ambition are critical drivers in professional success, while high self-esteem and self-control provide students with the confidence and discipline to realize their dreams. These skills and characteristics are critical to working in any profession, and by developing these qualities, entrepreneurship programs can help transform teenagers into successful young professionals.
This is the true benefit of entrepreneurship education: the tools it provides are immensely beneficial both inside and outside of the business world. For those children who aspire to be business owners, it allows them to jumpstart that process by testing out and experimenting with ideas. For those children who dream of becoming doctors or lawyers or teachers, it helps them develop skills to innovate and succeed in their field. Entrepreneurial education is more than just building a business plan and marketing a product. It’s about learning how to recognize opportunities and capitalize on them, and that’s a skill every young professional should have.
Start building your child or students' entrepreneurial skills today using our free lessons.
[1] van der Kuip, Isobel and Verheul, Ingrid. “Early Development of Entrepreneurial Qualities: the Role of Initial Education.” Scientific Analysis of Entrepreneurship and SMEs. June 2003. Accessed Nov 24, 2013.
[1] Ismail, Khalid., Ahmad, Abdul Rahman, Gadar, Kamisan., and Yunus, NKY. “Stimulating Factors on Women Entrepreneurial Intention.” Business Management Dynamics. Vol 2, No. 6, Dec. 2012.
[1] Rasheed, Howard S. “Developing Entrepreneurial Characteristics in Youth: The Effects of Education and Enterprise Experience.” Submitted to the International Journal of Entrepreneurship Education. Accessed Nov 24, 2013.
[1] Obschonka, Martin., Silbereisen, Rainer K., Schmitt-Rodermund, Eva., and Stuetzer, Michael. “Nascent Entrepreneurship and the Developing Individual: Early Entrepreneurial Competence in Adolescence and Venture Creation Success During the Career.” Munich Personal RePEc Archive. October 6, 2010. Accessed Nov 24, 2013.
[1] Obschonka, Silbereisen, Schmitt-Rodermund, and Stuetzer. 2010.
[1] Leaper, Campbell., Farkas, Timea., Brown, Christia Spears., “Adolescent Girls Experiences and Gender-Related Beliefs in Relation to Their Motivation in Math/Science and English” Journal of Youth Adolescence. July 16, 2011. Accessed September 24, 2013.
[1] Blake-Beard, Stacy., Bayne, Melissa L., Crosby, Faye J., and Muller, Carol B., “Matching by Race and Gender in Mentoring Relationships: Keeping Our Eyes on the Prize.” Journal of Social Issues. Vol 67, No. 3. 2011. Accessed September 24, 2013.
