Entrepreneurship

A Nicola Valley Perspective on Youth Entrepreneurship

When we are young, we feel we can conquer the world.

Not that long ago I was part of this vigorous demographic. Time flies eh! When we are young, we feel we can conquer the world but it’s not until we struggle accomplishing our own goals that we realize growing up may not be as easy as we thought. Let’s invest in our Youth (Youth Entrepreneurship). Give our Youth the opportunity to remember us because of the positive impact we had in their lives.

Entrepreneurship

From left to right: Carlos Olguin, Nathan Olguin, Alexander Olguin and Daniel Olguin

One morning I asked my 11 year old son what entrepreneurship meant to him?

We have different opinions for everything. Many times it depends where you are coming from and how life has treated you.  Entrepreneurship is no different; it might mean something different for each one of us. As an example, one morning I asked my 11 year old son what entrepreneurship meant to him? His answer was, “I know what the word means, but I keep forgetting. Entrepreneurship I think means like I heard it in the TV show Shark Tank. It was like learning to start a business and making your business. Kind of what you do at Community Futures helping people grow businesses”.

If you had $50.00 dollars to start a business what kind of business would you start?

I was not expecting this answer so I had to ask a second question to my son. So Nathan, if you had $50.00 dollars to start a business, what kind of business would you start? This was his answer. “With $50.00 dollars I could start a lemonade stand and I could start selling lemonade. I would probably locate my lemonade stand in a populated area on a really hot day when people are rushing with their kids willing to pay 25 or 50 cents for an ice cold lemonade”. If we think a little bit about his answer, he not only thought about his target market, he also thought about the ideal location with the right foot traffic under the right weather condition to succeed in his business. Way to go Nathan!

What kind of programs and services are we offering to our Youth in our Community?

What are we doing to provide our Youth with the tools and resources they need to develop their entrepreneurial skills?

According to tradingeconomics.com “Youth Unemployment Rate in Canada remained unchanged at 11.10 percent in May from 11.10 percent in April of 2018. Youth Unemployment Rate in Canada averaged 14.04 percent from 1976 until 2018, reaching an all time high of 20.70 percent in October of 1982 and a record low of 10.30 percent in September of 2017”.

The option to invest in our Youth is no longer a choice but an essential need.

Given the high rates of Youth Unemployment in Canada, the option to invest in our Youth is no longer a choice but an essential need.  They are our future business owners that will represent the back bone of our local economy.

As mentioned by Will George, manager of Economic Development and Tourism for the City of Merritt “As a community we need to be open and eager to help assist Youth discover what entrepreneurship is all about. Starting a business is not just for adults but for anyone who has passion of starting their own business. Commencing at a young age helps Youth think about other opportunities besides just working at their typical jobs. Starting a business is not for everyone, but everyone should have an opportunity and resources available to them to make up their own mind on the matter.”

Entrepreneurship

Mark Nendick (PFN Coaching), Sarah Forsberg (Capital Cake Company), Travis Fehr (Breathe Bikes), Ashley Dearden (Sinfully Sugar’d), Preston Customs (Darren Preston).

Job creation is the opportunity to create local jobs for local people.

Part of my job at Community Futures is to help entrepreneurs start their own small businesses. Throughout the last eight years, I have helped numerous people start their own business. It is gratifying to see my clients succeed while running their own businesses, but I have also seen them struggling or breaking even especially for the first few months in business.

Job creation is an important component within our community. It’s the opportunity to create local jobs for local people. There are some awesome programs that help create summer student positions such as the Summer Student Program. This program provides wage subsidies to employers to create employment for secondary and post-secondary students. I am all in favor of job creation, but I think we also need to incubate our local entrepreneurial talent.

Entrepreneurship

Merritt Youth Entrepreneurship Program 2018. From left to right: Manuel Olguin, Bryan Chavez, Sajjin Lali, Amrit Samra, Kara Wright, Julia Smith & Jacob Schultz.

Five young minds embracing lawn care, photography, web designing, and retail.

With this in mind, Community Futures Nicola Valley in partnership with the City of Merritt and the School District 58 this year launched the Merritt Youth Entrepreneurship Program.

This Youth Entrepreneurship initiative was offered to all Nicola Valley students in grades 8-12 who were looking for some extra cash this summer. This program not only provides up to $200.00 start-up funding but also provides business resources to support our students in their entrepreneurial path.

 These five young minds will have the opportunity to run their summer business for the months of July and August. Four different industry sectors will be represented by these five entrepreneurs: lawn care, photography, web designing, and retail. These students will also have the opportunity to showcase their businesses at the next Provincial Community Futures Conference on September 13-15, 2018 here in Merritt, B.C.

Entrepreneurship

Photo courtesy of Junior Achievement

Junior Achievement has several programs such as Dream Big.

Junior Achievement has been working actively in our Community for the past years. They have several programs that include: A Business of Our Own, More Than Money, Dollars with Sense, Be Entrepreneurial, and Dream Big amongst other programs.

In 2016 I started working closely with Kara Wright the Program Coordinator for Junior Achievement office in Kamloops. We successfully delivered the “Be Entrepreneurial Program” to grade 9-12 students at Merritt Secondary School. While working on the Merritt Youth Entrepreneurship Program, Kara and I successfully delivered the business model canvas. This business model canvas was delivered to five successful students enrolled in the program. For those of you who may not know, a “business model canvas” is a business model all on one page.

4-H Club in Canada.

A few years back, I remember reading about the 4-H Club in Canada. It’s great to know that this club is finally back in Merritt. In the near future, I will be blogging about the 4-H Club in the Nicola Valley. Stay tuned!

The lack of initiatives to support the Youth in my home-town discouraged me from starting my own business.

For those who do not know me, I grew up in a small town close to Mexico City. Thinking back in time, I wish I had such programs as all those mentioned in this blog. I’ve always had an entrepreneurial mindset, but lack of initiatives to support Youth in my home-town discouraged me from starting my own business. I am glad my children are raised in Canada where I can let them explore their entrepreneurial skills by shoveling snow or cutting the grass in my neighborhood without being concerned about their own safety.

We just might figure out a way to make the world a better place.

Entrepreneurship may be kids selling candies or home-made popcorn to their classmates at school, or having a lemonade stand on a sunny day. It’s Youth with the courage, creativity and drive to face the potential setbacks along the way of their entrepreneurial path.

By supporting and recognizing what our local Youth Entrepreneurs are bringing to the table, we just might figure out a way to make the world a better place.

Supporting our Youth! What a great legacy to leave behind us.

MOR

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Places To Stay in Merritt

Best Western Plus
Comfort Inn Merritt
Merritt Desert Inn
Quality Inn - Merritt
Ramada Merritt
Super8 - Wyndham - Merritt
Knights Inn - Merritt

Manuel Olguin

Manuel is originally from Mexico City where he received a Bachelor’s degree in Management. Since 2012 Manuel has been the Business Development Officer for Community Futures Nicola Valley. He provides customized training and counseling services to the Nicola Valley businesses
Manuel Olguin

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