Is your child interested in starting a business? Here is an entrepreneurship challenge for kids

Debates have been made about whether entrepreneurship is the right path to tackle unemployment, whether it should be introduced in the school syllabus, and whether it is for everyone.

The only way a parent can tell if their child is made for the entrepreneur journey is to start them while they are young.

Economist Dawie Roodt and musician Majozi will pilot a free-of-charge five-week online entrepreneurship challenge through Koa Academy for South African children between the ages of nine to 16. The challenge will be accredited by Pranary Business School.

ALSO READ: Is entrepreneurship a skill that must be taught in SA’s schools?

How does the challenge work

The challenge is available in English and Afrikaans. In a media statement, Koa said it aims to cultivate entrepreneurial thinking from an early age, equipping young learners with the skills and mindset needed to create and sustain successful businesses.

Children from all over the country can take part in the challenges.

“The course teaches learners how to identify problems, develop solutions and turn them into profitable ventures.

“Live coaching and mentorship will be provided throughout the course, offering personalised feedback and guidance to help learners refine and launch their business ideas.”

How children will benefit from the challenge

After five weeks of learning, the children will present their concepts to a panel of investors for review. The most promising business proposals will be awarded a cash injection to launch their business and coaching to sustain their momentum.

Roodt said the course aims to create a hunger among the youth to start thinking like entrepreneurs.

“Most small businesses are in survival mode. The real benefit of small businesses is their potential to grow into medium and large enterprises that contribute to the economy.

“To do that, you need to start thinking like an entrepreneur from an early age. It is about trusting yourself and learning the fundamentals of taking your idea to the next level.”

ALSO READ: ‘Government initiatives alone can’t address SA’s unemployment rate’

Fear of failure

Majozi added that, according to the latest Global Entrepreneurship Report, fear of failure is one of the highest contributing factors to small businesses’ failure. 

“People fearing failure is one of the biggest barriers to starting a business. Many people are afraid of the unknown, but entrepreneurship is a process of learning, failing and growing. Facing challenges head-on builds resilience and confidence.

“Practical exposure, such as testing your ideas through a side-hustle, provides a low-risk environment to develop skills and build confidence. It’s not enough to have a skill or an idea. You need to equip yourself with knowledge and a network of entrepreneurs from whom you can learn.”

How to enter

Upon completion, learners will earn a Level 1 Entrepreneurship Certificate, accredited by Pranary Business School.

Registration for the Online Entrepreneurship Challenge is open and closes on 1 May. The challenge starts on 5 May.

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