Summer SAVY 2016 (Session 4AM/PM, Day 5) – From Blueprint to Business: The Math Behind Entrepreneurship
Today the young entrepreneurs met with a loan officer at the bank to ask for a loan. Before meeting with the loan officer, business groups had to decide exactly what they would need to fund starting their business. They considered all of the materials that they would need as well as expenses like rent and advertising. Fortunately, they had sound business plans to present to the bank, and all loans were approved. Making these loan requests led to great thinking and learning about investors, interest rates, and percentages. The next time you borrow money from one of these entrepreneurs, don’t be surprised if they try to charge you interest!
This class had such great practical applications. I encourage you to talk about business, money, and financial literacy with your child.