5 Reasons Business Skills are Important for Young People 

By Taj Pabari on September 10, 2017

There is no denying that at some stage of your child’s life they will either work for a business, buy from a business or even start their own business. Just this fact alone highlights the importance of learning fundamental business skills from a young age. According to our Fiftysix Creations ‘Future Proofing Young People’ Report, 75% of parents believe young people lack business and entrepreneurial skills.

Business or entrepreneurship is not a core subject offered in the Primary School Curriculum in Australia. A subject that not only has the potential to teach young minds crucial financial literacy and managerial skills but also enhance their interpersonal skills which will boost their employability prospects in the future. We believe this is a missed opportunity in our schooling system.

Here are the Top 5 Skills Business Skills are Important for Young People…

1. Flearning = Failing + Learning

Failing + Learning is a concept we believe so passionately about at Fiftysix Creations. We encourage children to be inquisitive and make mistakes while learning so that they can grow from these mistakes. Business is a trial and error process where making mistakes is inevitable (and necessary). Exposing children to this process at a young age allows the celebration of mistakes and the building of resilience, encouraging them to try harder and get back up,

2. Team Building

Giving young people the opportunity to work in a collaborative setting allows for the growth of communication and emotional intelligence skills. Being able to communicate ideas and understand others is a huge part of life and allows for the opportunity to build strong foundation networks for the future. These interpersonal skills are nurtured at Fiftysix Creations and we encourage all our students to be involved with the team building experiences we offer. In particular, at Business Camp where students have 3 days to start their very own business or social change movement.

3. Creativity

Creativity is a skill that many people take for granted and feel is a trait that only a few can use successfully. Inspiring children to be bold and brave at a young age can nurture a sense of courage and confidence. The young people of today are going to be inheriting the world’s biggest problems including climate change and global debt. A little creativity will be REQUIRED to thrive in the innovation economy.

4. Financial Literacy

Financial Literacy is a core skill that is vital for the success of our children. Teaching young people how to make smart financial decisions is important to ensure that they understand the importance and significance of money as well as having the confidence to manage their personal finances. Fiftysix Creations has recently partnered with the Westpac Davidson Institute to provide financial literacy education to all young people at Business Camp in Australia and New Zealand.

5. Public Speaking

Being confident with expressing ideas in a public setting is a powerful, yet difficult skill to acquire at a young age. It is a skill that machines will never, ever be able to replicate and has never been so important as we enter the automation revolution. According to a Deloitte Access Economics Report, two-thirds of jobs will be soft skills intensive by 2030.

Register your child for Business Camp by Fiftysix Creations today!