Training the young in Entrepreneurship

Jayanthi Liyanage

Young Entrepreneurs Sri Lanka (YESL) recently conducted an exchange program between school children in Colombo and Batticaloa. The idea was to mould children to build the nation through Trust, Unity and Progress found in Entrepreneur Education towards socio-economic development of the country.

With the successful liberation of the North and the East from terrorism, YESL launched an entrepreneur education program in Batticaloa in the Eastern Province.

With the co-operation and co-ordination of the Zonal Education Director, A.M.E. Paul, the program was introduced to three schools in Batticaloa, namely, St. Vincent’s High School, St. Michael’s College and Vivekhananda Girls Maha Vidyalaya.

Children from Batticaloa visited Colombo to participate in the Regional Award Ceremony of YESL, hosted by St. Joseph’s College, Colombo. Over 32 children accompanied by teachers were received in Colombo by the YESL staff of St. Joseph’s College and Musaeus College. St. Joseph’s College provided accommodation to the boys and three school companies in Musaeus College hosted the girls.

Various other activities were lined up during their stay to build trust, confidence and relationships vitally needed in all areas of the country to build peace and harmony among children from all communities. A significant feature of this initiative has been the interest, excitement and enthusiasm of children from Colombo schools to go out of their way to support children from the Eastern Province.

It is expected to follow up this program with children of the Northern Province. Young entrepreneurs from Colombo and other regions are now planning to visit schools in Batticaloa and offer their knowledge and experience to help the children to be work force ready.

Junior Achievement Worldwide (JA) was founded in 1919 in the USA which is considered as the world’s largest and fastest growing organization dedicated to grooming and educating children on business education, economics and entrepreneurship. Currently, it operates in 120 countries all over the world.

Desha Bandu Patrick Amarasinghe, an ex-exporter and ex-President of Federation of Chambers of Commerce and Industry, Sri Lanka, came across the JA program in the USA. In 1996, he obtained the franchise as a member nation of JA and the approval of the Ministry of Education to introduce the program in the government schools in Sri Lanka in the three stages of elementary, middle and high school. Children learn about business, economics and entrepreneurship starting at five years of age in elementary school and go up to about 18 years of age in high school. Being an activity based program, they also learn English.

The JA YESL High School Company Program is very popular among students. In this program, they form a true to life company under the guidance of YESL. YESL office is similar to the Registrar of Companies.

The students register their companies with the YESL, prepare a business plan, elect a president and a Board of Directors and issue shares. They produce a product, sell it, earn profits and publish an annual report. After 12 months, they liquidate the company and pay dividends to the company members.

They can even sell their company to a new batch of students. Every year, an award ceremony is held to select the best company, best business plan, best annual report, best president, best finance director, best marketing director, best principal among schools, best teachers and the best young entrepreneur in schools. Winners of regional level qualify for the national level.

Amarasinghe, President, YESL, said that the YESL program begun with nine national and provincial schools with 1,600 children has now spread to over 460 schools and 42,500 children in urban and rural areas.

The children are called the “Growing Up CEOs of the World.” “The whole objective of the program with the current education system that we have here and the world is that it trains students to be the work force ready and employable. We want more children to learn saving habits, how to make money and how to manage money.” said Amarasinghe. “As entrepreneurs, they can create jobs.

We want children in rural areas to stay back in their villages and set up their own enterprises. USAID funded us for the past ten years but from this February they have stopped.

The Ministry does not give us money and now we need to find local private companies to sponsor school companies. We have nationalised the program because of global economic crisis and funding difficulties. Even individuals who have money can fund. It is a social responsibility.”

He pointed out that there is a minimum of 30 school children in a school company and each child costs Rs.5,000.00 per year. The programs are offered free to school children and the educational materials are researched, tested and proven world wide. “Entrepreneurship has become a compulsory subject in schools and we have undertaken to train teachers on entrepreneur education with the Ministry of Education.

It needs to be highlighted that there are about five million school going children. Out of this, four million are in Government schools, five lakhs are in international schools and another five lakhs are yet to go to school. This five million is more than 25 per cent of the total population.”

Amarasinghe says that the program helps children to select their own careers when they leave school. They can get a job in the private sector or start their own enterprise. Since this is a global program, they can integrate with children of other countries.

Amarasinghe also says that he gave up his businesses for the sake of the country and became a social entrepreneur. “People who have experiences in business must give back what they learnt to the country, for the sake of the younger people. This is peace through entrepreneur education.” We have to build bridges between people who had hated each other, he stresses. This can be done by building up warmth and friendship by integrating children of different provinces.