Starting a business for kids? Really? Many of us homeschool because we want something different for our children. One of those reasons can be seeing turn to for the future. how can we do that? By focusing on skills, by thinking outside the box or by helping our children start their very own businesses!

Starting a business isn’t just for adults! In fact, teaching kids about entrepreneurship can be incredibly beneficial. Let’s explore why and how you can help them get started!

We encouraged our girls to start their own businesses at the age of 9. They wanted a specific toy and felt they could just take the money from their savings account. We said “no” to that, but we did say that they could borrow the money as long as they started a business to earn the money to pay it back. We even have a deadline of when it needed to be repaid. So, they developed their own products, started selling them and paid back what they owed. 

Why starting a business is a great idea for kids

1 Skill Development

   Running a business helps kids develop essential skills—like problem-solving, time management, and teamwork.

2. Confidence Building

   When they see their ideas come to life, it boosts our children’s self-esteem and encourages them to take risks. Risk can be a good thing! 

3. Financial Literacy

   Kids learn about money management, budgeting, and saving—skills that will serve them well for life. (And these skills are not usually in curricula anymore.)

4. Creativity & Innovation

   Entrepreneurship encourages creative thinking. Kids can express themselves and explore their passions. 

But how can we help our kids kickstart their entrepreneurial journey?

1. Encourage Ideas

   Start by brainstorming! Ask them what they’re passionate about. Whether it’s making crafts, baking, or even tech projects, every idea counts. 

2. Create a Plan  

   Help them outline a simple business plan. What will they sell? Who will be their customers? How will they market their product? You can start small with a lemonade stand or a small product. 

3. Set Goals

   Encourage them to set realistic goals. This could be a sales target or a timeline for launching their business.

4. Provide Resources

   Help them gather materials they need. Whether it’s supplies for crafts or tools for digital projects, support them in gathering resources.

5. Launch & Market 

   When they’re ready, help them launch! Set up a lemonade stand, create an online shop, or promote on social media. The world is their oyster. 

6. Celebrate Successes and Learn from Failures

   Celebrate their achievements, big or small. And if things don’t go as planned, encourage them to learn and adapt. Every entrepreneur faces challenges. Our children need to learn to pivot. 

Other ways we can help

1. Teach Basic Business Concepts: Explain concepts like profit, loss, supply and demand, and customer satisfaction.
2. Provide Resources: Offer books, online courses, or mentorship opportunities to help them learn more about entrepreneurship.
3. Teach Financial Literacy: Help them understand budgeting, saving, and investing.
4. Encourage Risk-Taking: Teach them that failure is a natural part of the learning process and encourage them to take calculated risks.
5. Foster Problem-Solving Skills: Help them develop strategies to overcome challenges and find solutions.
6. Build a Support Network: Connect them with other young entrepreneurs or mentors who can offer guidance and support.
7. Be Patient and Supportive: Remember, entrepreneurship is a learning process, and it takes time to develop the necessary skills.

Remember, the journey is just as important as the destination. Every step they take builds character and resilience.

So, why wait? Encouraging kids to start a business is an incredible opportunity for growth. It’s not just about making money; it’s about learning valuable life lessons! And it is setting them up for the future. 

Here are some of the products my girls have produced:
Color My World (coloring book)
Kira’s Critters (stickers and bookmark)

Need some ideas to get started? Check these out