August 11th, 2009

Young Entrepreneurs Meet a Challenge

The economy is in collapse and the unemployment rate continues to rise.  Job prospects for high school and college graduates are dwindling, leaving few options for young people with degrees (and almost certainly debt).

Things are not looking good for recent graduates–what should they do? With few job leads, folks seem to be getting creative by starting businesses of their own. But while many young people may have great ideas, they may not know the first thing about starting their own business. Enter entrepreneurship education.

NFTE CompetitionThe National Foundation for Teaching Entrepreneurship (NFTE) aims to provide entrepreneurship education to young people in low-income communities, and on October 7, it will hold its annual competition that brings students from around the country together to present their business plans to a panel of judges in hopes of winning cash prizes that will turn their business ideas into a reality. We’ll be excited to see what’s to come from the next generation of business leaders.

Back in 2007, we followed the story of Yesenia and twelve of her classmates–all participants in NFTE’s program–who were trying to launch a soda company. We watched as they pitched their business plan to a panel of judges in hopes of getting $10,000 in startup funds.  We also went to Riker’s Island Prison to see how entrepreneurship programs are working with incarcerated youth.

Watch “Young Entrepreneurs”:

Related Podcast: Teaching Entrepreneurship [Podcast 03/02/07]
The National Youth Entrepreneurship Challenge 2009
National Foundation for Teaching Entrepreneurship

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