Biz Kid$ entrepreneur contest teaches kids about starting a business
A Foundation Grant at Work
The Cornerstone Credit Union Foundation hosted a Pilot Biz Kid$ Entrepreneur Contest and awarded Hamshire-Fannett Middle School as the winner for their “Pencil Pouch” project. Cornerstone Credit Union Foundation received a Biz Kid$ Financial Education Grant from the National Credit Union Foundation (the Foundation) to help fund this initiative.
“We were so happy to fund Cornerstone Credit Union Foundation’s pilot project,” said Danielle Brown, Director of Development & Donor Relations for the Foundation. “Their Entrepreneur Contest is the perfect way to integrate Biz Kid$ into schools and help teach kids the skills and financial responsibilities necessary for starting their own business. This contest can really help change the financial lives of the students.”
FivePoint FCU and Beacon FCU participated in this year’s pilot. Both credit unions collaborated with a local school where they selected up to three teachers each to work with for the program. These selected classrooms worked with their partner credit union to create an original business plan to be presented to impartial judges.
Hamshire-Fannett Middle School partnered with FivePoint FCU and submitted “The Pencil Pouch,” while Horace Mann Junior School worked together with Beacon FCU to submit “Sneaker Saviors,” a business that uses old sneakers and customizes them for individuals. Both were carefully planned, original projects that demonstrated the children’s knowledge of Biz Kid$ entrepreneurship concepts.
The winning project, “The Pencil Pouch” came about after the students in Ms. Basye’s 8th grade class conducted a survey of students and teachers and realized there was a need for quick access to school supplies. The Pencil Pouch is a school-sponsored and student run school supply business, supplying items such as paper, pens, erasers and more.
This experience allowed for the students at Hamshire-Fannett Middle School to get hands-on experience with planning, setting-up, and running their own business. They were able to learn entrepreneur skills and about the hard work it takes to be a small business owner.
“We are thrilled with the success of this pilot program,” said Courtney Moran, Executive Director of the Cornerstone Credit Union Foundation. “Students, educators, and credit unions collaborated in a meaningful way, and I’m confident that this experience gave students a better sense of what it takes to be a successful entrepreneur.”
“The Pencil Pouch” is still up and running thanks to the hard-work and dedication from the students at Hamshire-Fannett Middle School.
A Foundation Grant at Work
This “Grant at Work” is part of a series that highlights Foundation grantees who made a positive impact in their community and empowered consumers to achieve financial freedom through credit unions. Grants are made possible by supporters of the Foundation.
Hamshire-Fannett Middle School 8th grade students receive awards for winning the Biz Kid$ Entrepreneur Contest with their “Pencil Pouch” store.
Biz Kid$ – Teaching Kids about Money & Business
Biz Kid$ is a financial literacy initiative launched nationally in January 2008 that teaches kids about money and business. The initiative includes an award-winning TV series, free classroom curriculum, outreach activities, and a website targeting children 9 – 16 years old. The Foundation is responsible for the fundraising and outreach of the program, and a coalition of over 300 credit unions and affiliates from across the country have helped exclusively fund Biz Kid$.
Many credit unions leverage Biz Kid$ to teach financial education in schools in their community. In addition to the Foundation’s box sets and starter kits, companion materials and other resources for teachers and parents are available at no cost on the Biz Kid$ website, bizkids.com. The site also features clips from the series and invites kids to appear on the show.
For more information about Biz Kid$, click here.
