Young entrepreneurs at Lolo Middle School learn the ins and outs of running a business

Entrepreneurship education promotes understanding of the American free-enterprise system, including competition and the profit incentive. Involving students in entrepreneurship by having them run their own business allows them to explore all the academic disciplines associated with business and marketing education.

The eighth-graders at Lolo Middle School recently completed a six-week unit on entrepreneurship in which they formed a company, selected a product, secured a loan, bought supplies, made the product, marketed it, sold it, repaid the loan and distributed profits. Sales were brisk and competition lively, as each company worked to make a profit.The project was developed and taught by Forey Cederberg, Lolo School’s family and consumer science teacher. Julie Engh, the language arts teacher, and Deanne Smith, computer/keyboarding teacher, worked with the students in the advertisement area. After repaying the loan, the companies will distribute the profits in the following ways:

60 percent goes to charity,

40 percent to a “going out of business” party. In final analysis, nearly $700 will be donated to charities of the companies’ choice.

Full Story and Company Descriptions: http://missoulian.com/articles/2005/12/20/schools/schools01.txt