Article provided by MiWay
Teaching kids sound financial habits from an early age gives them an advantage later in life. Some people believe that the age you start your first business impacts how successful you are later in life.
As we’ve just celebrated Youth Day, we’ve put together ten business ideas for young entrepreneurs:
1. Handmade gifts
Creative kids can earn extra money by making homemade gifts (they may need a bit of help from mom or dad). Clothes for dolls, tea cloths, greeting cards or handmade soap are some ideas.
2. Pet-sitting services
A great idea if your kid won’t give up the idea of getting a fluffy younger sibling; this job will show them how having a pet is a big responsibility. If your neighbours are going away, ask them if they need help refreshing the cat’s water, filling the dog bowls or feeding fish as these are tasks young children can easily master. Consider the size of the animal as well as the age of your child, and do make sure you know both the owner and the animal well if your kids are taking pets for walks.
3. Baking or making treats
Everyone loves home-made goodies like biscuits, cupcakes, rusks, cakes and sweets. These are easy to make, easy to transport and easy to sell. Kids can learn to shop around for good-quality ingredients at the best price and come up with ways to speed up the production process. Your kids can be well on their way to and learning vital business skills.
4. Recycling service
Kids could set up a recycling service where they collect paper, glass and cans from people who don’t have time to do their own recycling. This may not necessarily churn profits, but parents (and neighbours) can reward kids accordingly for work done. The environment will be grateful.
5. Voice artist or acting
If your child has natural talent, going the route of becoming a voice artist or an actor may be an option. If this is the case, their talent can be polished and groomed with the help of a voice or acting coach. To actually start earning money, it’s vital that they get representation. Some artist agencies specialise in kids.
6. Author or illustrator of children’s books
Who better to know what would resonate with their age group? Kids who enjoy writing stories could put together their own book and then start looking for a publisher (or even self-publish the book online). Another option for little Picassos is to offer illustration services to kids’ book authors.
7. Invent something
Kids are great inventors! Why not find all kinds of solutions for everyday challenges by using household items? A special fan to make glue dry faster, a step ladder with sides (for safety) to reach high places etc. When they are onto something good, it may be worth looking at patenting the invention.
8. Selling refreshments
Kids can test out their entrepreneurial skills by selling ready-made snacks to their friends during breaks at school. Start-up costs are small and profits can be used to buy more sweets, snacks and cold drinks.
9. Rating toys and/or games on YouTube
If your kids have entertaining personalities (like Ryan from Ryan’s Reviews), it might make sense to point the camera at them – while they play with toys or video games and tell viewers what they think or what they’d change. Once they’ve built up a following, they can start earning some serious cash.
10. Puppet shows and other performing arts
Food and entertainment, for both adults and kids, always draws a crowd. Neighbours, friends and teachers will support creative initiatives and appreciate the creative effort made.
As you can see, there are plenty of opportunities for kids to start their own businesses. Although your nine-year old may not need business insurance just yet, teaching your kids business sense from an early age gives them the opportunity to gain confidence, use their creativity and have an edge over their peers.
Article provided by MiWay