Running a business can be both complicated and rewarding. Should kids be allowed to take on that task? Some say running a business lets kids earn money and learn how to manage it. It’s never too early to pick up such skills. Others say that in the long run, kids benefit more from focusing on school and extracurricular activities. Running a business can be distracting.
Should kids run businesses? TFK Kid Reporters Ethan Zhang and Via Ryerson weigh in. What do you think?
Ethan Zhang, 9
Did you know that Warren Buffett, one of the world’s greatest businessmen, sold chewing gum and soda to his neighbors when he was a kid? Running a business at a young age can teach you skills that will benefit you in the future. According to a Gallup survey published in 2017, 40% of kids in grades 5 through 12 plan to one day start a business. Giving it a try early on can help you learn and get you ready for new opportunities.
Becoming a young entrepreneur also teaches you important lessons. These include how to set and meet goals and how to manage money. Finally, running a business teaches problem-solving, critical thinking, and persistence. These skills can help you excel in school.
Via Ryerson, 9
Kids should not run businesses. They should be expanding their knowledge by focusing on school. They learn an array of subjects at school—more than they’ll learn from a business. The more subjects kids learn, the wider the range of things they can do when they get older.
When kids aren’t busy running a business, they are more likely to join after-school clubs or sports teams. These activities can help kids build mental and physical strength. They can also teach kids how to solve problems and collaborate with their peers.
Plus, kids who are running a business have less time to spend having fun with family and friends. Kids should just be kids.