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Linking Youth Entrepreneurship and Savings Programs

A number of regions have developed innovative entrepreneurship programs. These efforts provide some type of training, and perhaps some funds via a business plan competition. But, what if kids could be assisted in saving money, which could then be used to build a new venture? This concept is driving a new effort, the Savings for Education, Entrepreneurship and Downpayment (SEED) Initiative, a youth financial literacy program led by the Corporation for Enterprise Development (CFED). A new CFED White Paper reports on this program and offers recommendations for more closely linking financial literacy and youth entrepreneurship programs. The paper notes that both types of programs help build a better sense of self-determination and positive attitudes among youth. Not surprisingly, they also make it easier for youth to start a new company should they choose to pursue this path. The study reports on preliminary pilot projects in Oklahoma and Pennsylvania, and also offers suggestions for effectively integrating these programs in other communities.

The July 2006 Corporation for Enterprise Development White Paper, “Linking Youth Savings and Entrepreneurship,” by Kim Pate, can be accessed at:
http://www.cfed.org/publications/documents/Linking_Youth_Savings_Entrepreneurship_final.pdf

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