It's no longer the case that a young person can graduate from high school and have a guaranteed job ready and waiting for them in the industrial centers that once drove Michigan's economy. It's not even the case that a new college graduate can walk out the door and find a job in their chosen field.
So, what's a driven-to-succeed, bright young person to do with their future? For a certain group of Midland-area students, they've already answered that question, by building their own business as part of the
Midland Young Entrepreneurs Academy.
The academy is open to public, private and home-schooled students in Grades 6 to 12, and during their year-long participation in its program, they will go through the whole process of starting a business.
Tina Lynch, director of the YEA, says they start by brainstorming business ideas, then do market research to determine the viability of their idea. Then the kids write business plans, pitch their business to potential investors, get all the registration, licensing and paperwork done, and actually launch and run their businesses over the course of 30 weeks.
It's the academy's first year running in Midland, but the idea originally comes from the University of Rochester in New York, where a youth entrepreneurship academy began in 2004. In 2008, it spun off to become a national non-profit with the help of the Kauffman Foundation, and now is spreading to places across the country.
"The
Midland Area Chamber of Commerce is in the first year running the YEA program and is thrilled to have been one of the first communities in the state of Michigan to introduce this entrepreneurial training to area youth," says Lynch. "Youth entrepreneurship training has consistently proven to be extremely effective in improving student performance in the classroom and in their community."
It also gives those youth valuable skills to use in the 21st-century job and career world, where owner-entrepreneurs, small businesses and independent contractors are becoming the norm.
The YEA students get help from guest lecturers, local entrepreneurs and business mentors, and visit local businesses to see how things work. Business owners volunteer to be a part of the program and also help financially support the program, along with several mid-Michigan civic organizations.
A few key events throughout the year also keep them on track. Most recently, at the end of March, the students presented their business ideas to a panel of investors for possible funding.
The investor panel consisted this year of representatives from Midland Solar Application, Isabella Bank, Northwood University, Dow Corning and Chemical Bank.
As a result, ten projects by Midland YEA entrepreneurs received funding. Northeast Middle School seventh-grader Justin Witt received $782 for his Simply Savour company, which produces handmade pasta; Coding Works, owned by Dow High School sophomores Sindhu Manchijarju and Stephanie Morley, received $520 to launch its programming website that will help Midland high school students.
Northeast Middle School eighth-grader Ethan Deckrow got $650 for his 323 Studio Films, providing special occasion video services; The Cupcake Garden, a baking company with vegetable-based recipes got $824 for its owners, Jefferson Middle School seventh-grader Riley Davis, and Meridian High School sophomore Paige Stockwell.
CaraLilly Lane, owned by Jefferson Middle School eighth-grader Lillian Baker, got $831 for its magnetic locker wallpaper product line; techCell, owned by Calvary Baptist Academy sophomore Jefferson Glenn, got $692 for its custom computer and cellphone repair business.
Two more young entrepreneurs got money for food-related companies; Brasil in a Box, a company that produces homemade Brazilian Brigadeiro truffles, received $707 for its owners, Dow High School seniors Stephanie Dehn and Helena Donoso, and Jefferson Middle School eighth-grade owner Matt Laming of Northern Woodland Spice got $709 for his company that creates flavored meat rubs.
BoxedOut Yoyo Entertainment, a company owned by Jefferson Middle School eighth-grader Jeremiah Drabik, got $535 and provides yoyo entertainment services for parties; BampIt!, is owned by Midland High School junior Luke White and Dow High School seniors Felipe Haddad and Trevor Hulbert, and got $739 for its social media services.
Now, each business will begin production, sales and marketing of its products, bringing them to the public. One way they'll be doing that is on May 10 at the Midland Mall, when YEA entrepreneurs will have a trade show of their products and ideas, followed by a formal graduation at the end of May.
"By the end of the class, students own and operate fully functioning businesses that can be carried on after graduation. Students learn to make a job--not just take a job," says Lynch.
One of Midland's young entrepreneurs, Lillian Baker of CaraLilly Lane, was chosen by the investor panel to go to the YEA regional competition in New York, where she will compete against other
YEA participants in the Northeastern states. Winners there will proceed to a national competition, and the finalists will win startup money, college scholarships, and the chance to present their ideas to the investors of ABC's TV show "Shark Tank."
If you are or know a kid who would be a good fit in the program for the 201-2015 academic year, the Midland YEA is accepting applications for its next class. There are no requirements for previous business experience, and the class meets for three hours each week during the academic year at Northwood University in Midland.
Kim Eggleston is a Michigan-based freelance writer and editor. You can find her on Twitter @magdalen13.