Why children should be taught business skills at an early age

Michael Jackson’s Heal the World, Man in the Mirror and the legendary and unforgettable Whitney Houston’s I believe the Children are Our Future are some of my favourite pop hit songs. Not because they have a very soothing and catchy tune, but the message in these songs is powerful but sadly often under practised.

It is angering to see children being mistreated and indigestible to see them starving. When we utter the words sharing is caring without practising their true meaning, we are simply destroying our own future.

For any business to work, the investor must do anything to sustain it. It is not an easy task but just like children, unless you take care of a child —your future and theirs will not be a bed of roses.

In this beautiful world everything comes down to money and most businesses are created with the hope of achieving financial freedom or comfort.

So how can we prepare our children for financial freedom?

It is time to rethink the curriculum by incorporating teaching of business skills in early childhood classes.

Entrepreneurship is like an art— some are born with the talent but others teach themselves and work at getting better. The importance of grooming our children and youth on business early in life cannot be over emphasised.

Developed countries have embraced this and they have national strategies to impart business skills to their young and growing population.

Business concepts are universal, but how you do your business in different environments and markets differ and this stems from a number of things; tradition, technology, exposure and practical training.

It’s time to integrate business skills in school syllabuses and teach children in primary schools using practical real case studies.

These skills will benefit this nation financially in years to come. High quality childhood education will help shape the future of the children.

James Heckman, a professor of economics at the University of Chicago noted that the quality of childhood development heavily influences economic and social outcomes for individuals and the society at large.

Kenya can make economic gains by investing in early business childhood courses and basic financial education. According to Mr Heckman, the rates of return on human capital investment vary at different ages. By integrating financial and business classes geared appropriately towards specific age groups then, we can harness four core integral and economically viable gains.

First, investing in early financial and business education will provide equal access to successful early and recognisable human development.

Second, it will develop and nurture the cognitive, business and financial skills in young adults.

Third, sustainability. Acquiring business skills at an early age will ensure they pass on them into adulthood and parenthood.

Fourth, this will help the country gain an educated, skilled, capable, productive, valuable, effective workforce.

To ensure the programme reaps maximum profit and offers great promise, the Education ministry cannot do it alone. This has to be a collaborative effort with parents, teachers, and the nation as a whole.

Introducing early financial and business education in our primary schools is not only a smart investment with positive returns, but the most prudent thing to do.

Our nation should not encourage “wannabe hustlers”, incompetent workers and or uneducated businessmen. We must improve standards of living and have these policies considered in the economic development plans.

The return on practical business training and knowledge is clear and the earlier this intervention occurs the greater the payoff.