My 13-year-old son is always looking for ways to make money, and he has shown an interest in starting his own business. Are there programs out there that can help him?
–Anonymous, Via the Internet
It’s great that you want to encourage your son’s entrepreneurial interests. Besides giving him a chance to make extra pocket money, running a business teaches young people sound money management skills. Your son should start a business that reflects his favorite hobbies and skills.
Having him attend a financial or business camp is a great way to begin. The Black Enterprise Kidpreneurs Conference is held each spring: call 800-543-6786. Others include the Bull and Bear Investment Camp (conducted by Moody Reid Financial Advisors Inc.), 800-761-0274; and YoungBiz Better Investing and YoungBiz Smart Start to Business Camps, 888-543-7929, www.youngbiz.com.
Some helpful online resources include: www.myownbizkit.com, which offers business opportunities to parents and their children, and www.ja.org, the site for Junior Achievement, which helps young people understand business and economics.
Also look into organizations such as the National Foundation for Teaching Entrepreneurship, 800-367-6383 or 212-232-3333, www.nfte.com; and the NAACP Reginald F. Lewis Youth Entrepreneurial Institute, 410-580-5745, www.naacp.org (applications are available this month).