Children, just like adults, aspire to become entrepreneurs. Connor Boyack founded the Children’s Entrepreneur Market in Utah after a law passed in 2017 that allowed children to run lemonade stands and any type of business without a permit. Since then, the market has expanded to her 24 states, including Ohio and Kentucky.
On May 19th, Covington and Northern Kentucky will hold their first market at Goebel Park on Main Street as part of MyFest. Eligibility to participate is from 5 to 17 years old, and 50 booths will be set up.
“We’re really trying to be a free market, so we don’t regulate what kids sell,” said Mackenzie Campbell, market manager for Kentucky and the city of Cincinnati. “We might have a lot of bracelets and baked goods. We also have kids doing face painting and other services.” Of course, we’ll also be selling lemonade.
This year, Campbell’s has managed eight markets in the region, including Sawyer Point in Cincinnati on June 29th, Glencoe on August 3rd, Dry Ridge on September 14th and Cynthiana on September 21st. There is. Next year, the number of markets will increase to 16. The KY Innovation Hub in Northern Kentucky inspired the launch of a child entrepreneurship marketplace in the region. The organization has received support from the Kentucky Economic Development Cabinet to support entrepreneurship, which provided seed funding to help launch his CEM in Cincinnati and the Northern Kentucky region.
The purpose of the market is to give children real-life experience of running a profitable business. Rules include that parents stay hands-off and that young entrepreneurs don’t eat the stock.
“We’re really trying to make it something that actually teaches kids,” she said. “We want to inspire entrepreneurship in our kids, and we try to teach them the basics of what a business plan is and what you need to consider. You can’t eat it if you want to sell it and make a profit.”
Besides making money, the market also helps children develop critical thinking skills and gain self-confidence.
“It builds their character and creativity,” she said. “At the market entrance, I sometimes see kids who are a little shy and timid and don’t know how to approach people walking by. But by the end of the market, they start talking. It’s amazing how much more confident you feel after 3-4 hours.”
Markets tend to be held during different events to attract more foot traffic. Campbell said his markets and events attract anywhere from 500 people to 1,000 people.
“It’s a lot different than just putting it up at the end of your driveway and having people take the flag down,” she said.
Children become entrepreneurs temporarily for a day, but many want to follow that path into adulthood and may want to consider NKY’s other youth entrepreneurship programs . From June 16 to July 6, Thomas More will partner with the Governor’s School for Entrepreneurs to host a summer startup for aspiring high school entrepreneurs. Square1 in Villa Hills is seeking pitches from middle school and high school students, and NKU JumpStart is asking high school students to spend time on her NKU campus to pitch ideas and learn business fundamentals.
“The short-term goal is to see creativity and confidence emerge from the children,” she says. “They get so excited and feel like I’m doing something real. It’s not like grandparents are coming in to buy something. When you get these real transactions, they’re like, ‘Okay. Something grows inside them that says, “I’m not just a kid.” It does something for them. It may be a long-term possibility, but is this achievable or do you need to change what you want to do? But children get excited about their future from an early age. ”
Northern Kentucky is already a hub for adult entrepreneurship, but it’s also a great place for kids to start their own businesses.
“My favorite thing about northern Kentucky is that you can drive 15 minutes to a completely different city,” Campbell said. “By having that condensed space, we have a lot of kids that we can reach. We want to reach as many kids as possible and educate them about what entrepreneurship is and what’s behind it. It’s really great to be able to give ideas.”
The Children’s Entrepreneur Market will be held May 19 from 11 a.m. to 4 p.m. Register here: https://childrensentrepreneurmarket.com/event/covington-may-19-11am-4pm/
