Volume 18, Number 1, Fall 2007

4-H Youth Become Entrepreneurs and Finance Managers

Laurie Rivetto

As Michigan’s economy provides challenges in its job opportunities, a new Michigan 4-H focus exists to prepare young people to be their own boss as entrepreneurs, as well as wise money managers.

Wayne County Extension’s 4-H Program obtained a mini-grant from the Michigan 4-H state office to provide such training and education to the county’s young people. The objectives of the program are to:
• Increase the awareness of financial and entrepreneurship education in local communities
• Educate youth on the importance of financial and entrepreneurship education
• Empower youth to use the skills they learned to develop their own businesses in their local communities
• Develop youth entrepreneurial leaders in Michigan’s communities to strengthen Michigan’s economic future.

The program uses the national 4-H “Be the E” curriculum to discuss entrepreneurial efforts and the creation of a business plan. In addition, the National Endowment for Financial Education’s High School Financial Planning Program curriculum is being used to look at financial planning, saving and investing, credit and insurance.

Five youth from diverse backgrounds and experiences in Wayne County currently make up the 4-H Future Entrepreneurs. This pilot group meets bi-weekly to discuss entrepreneurial and financial management concepts through hands-on activities and real-life scenarios. So far, the group has completed loan applications, analyzed credit card applications, created SMART money goals and has looked at their personal strengths and interests in starting their own business.

Youth have commented on how they now know the risks and benefits of credit cards and the importance of budgeting. One youth commented that he never would have created financial goals if not for his involvement in this program.

Recently, the 4-H Future Entrepreneurs made a trip to a credit union to meet with bank tellers, executives and even the CEO! In addition, the 4-H Future Entrepreneurs will visit Junior Achievement’s Rock Financial Finance Park to “spend a day in the life of an adult” through a real-life budgeting scenario and host a panel of entrepreneurs. The culminating experience of this program will be a trip to Exploration Days at Michigan State University in June of 2008. For the 4-H Future Entrepreneurs, the 2008 Exploration Days will be a chance to showcase their business plans and connect with other 4-H Future Entrepreneurs from across Michigan.

Contact: Laurie Rivetto,
734-727-7236