Athabasca County councillors and members of Athabasca’s business community met at the Athabasca Regional Multiplex last Wednesday to learn more about the Biz Kids Program and how it can create more business-savvy youth.
The Biz Kids Program is a loan program for local youth that “provides local youth with the opportunity to gain some valuable experience in the world of entrepreneurism.” The program aims to teach youth how to handle money, be more responsible, increase self-confidence and practice sound time management.
The kids attend workshops and receive up to a $300 no-interest loan in “seed capital” and are paired up with local business people who mentor them.
Kelly Harris-Martin, general manager at Community Futures Tawatinaw Region from Westlock, told a room full of attendees that in targeting a specific demographic, kids at the Grades 9 and 10 levels have the best chance to capitalize on this program because their minds are just on the cusp of venturing out into the world, whereas the senior grades may already have their minds set on future plans.
However, if a Grade 11 or Grade 12 student wanted to be part of the program, they would not be turned away.
County chief administrative officer Gary Buchanan approached Harris-Martin in October expressing interest in promoting the Biz Kids program in the region.
“A big part of our economy is based on self-employed people, and the ability to interest kids at a young age before they’re off working for somebody else,” said Michael Mallock, a land developer with Athabasca Developments who attended the session. “Not every kid is cut out for university, so this is one more option to put in front of them.”
“The idea of a small loan is to teach them about the responsibility of repayment, that this is a loan; it’s a hand-up, not a hand out,” said Harris-Martin.
She added that the hope is that if kids succeed in the program, and they start making money, they shouldn’t have a problem paying back the loan.
County councillor Mike Demko later pitched the idea that the program may even be good for 4-H clubs.
As part of the program requirements, kids are expected to move forward with a real-world business they have conceptualized; maintain weekly contact with the mentor for support, attend workshops, use the money they receive wisely, and keep their financial records up to date. Most importantly, the kids must make an honest effort to make the business successful.
Nigel Satchwell, president of the Athabasca Chamber of Commerce, was in attendance and said, “I think it’s important that the youth get exposed to businesses and business practices and get some training early, and then we can get some entrepreneurial spirit going, and the chamber itself is supporting entrepreneurship. So anything we can do to get new enterprises, great.”
Satchwell has up to 20 youth employees at a given time and said programs such as Biz Kids lends youth more productive mindsets.
