10 Sep 2014

Innovative new in-school program allows students to start their own business

A NEW pilot program giving students from across Victoria an exciting opportunity to unleash their creativity and boost their innovation, enterprise and financial literacy skills was officially launched today at Carrum Downs Secondary College.

The $20 Boss program has been developed by The Foundation for Young Australians in partnership with National Australia Bank (NAB) and the Victorian Government and will soon begin in schools across Victoria.

Through the pilot, students are given the opportunity to plan, budget and market their business idea, and then one month to run their business.

Minister for Youth Affairs Ryan Smith said the Victorian Government was thrilled to support the program, which would help students get ready to take on the world of work.

“$20 Boss is a fantastic way to engage young people – not only does it allow them to build enterprise skills and boost their confidence, it also makes them more likely to be job creators in future,” Mr Smith said.

NAB General Manager, Small Business David Bannatyne said NAB was proud to support an innovative program like $20 Boss.

“We’re the bank behind small business in Australia, which is why we want to encourage and inspire a new generation of young Australians to start their own business and create their own opportunities for the future” he said.

“Introducing young people to the idea of a purpose-driven business and showing them how businesses can create both commercial and social value will have great flow-on effects not only for the students involved but also for the wider community.”

Foundation for Young Australians CEO Jan Owen said the students with the best and brightest ideas and businesses would be celebrated with awards at an event to showcase the innovation and success of students throughout Victoria.

“Unleashing the creativity of young people is crucial in preparing them for their future roles as innovators and creators of social change so we’re very excited about the potential of the $20 Boss program,” she said.

“Rethinking business education in this way is critical in tapping into the incredible potential of this generation of students for entrepreneurship, creativity and innovation.

“There has never been a generation so willing or so able to embrace and create change.”

The $20 Boss program is made possible through a $1.3 million commitment from principal partner NAB and a $200,000 investment from the Victorian Governmentto support the development of the educational tools and resources to build enterprise and financial literacy.

Find out more about the work NAB is doing in supporting the education of young people.

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