This is a guest post from Dan Danner, the president and CEO of the National Federation of Independent Business.
Diplomas earned, millions of high school graduates each year quickly shed their caps and gowns, eager to join their friends for road trips and beach vacations. But for 100 seniors who achieved 2014 National Federation of Independent Business Young Entrepreneur Foundation educational scholarships, it’s time to get back to business.
Since 2003, the foundation has awarded scholarships to more than 2,500 graduating high school seniors totaling more than $2.5 million. Financial support for the program is provided by small-business leaders, corporate and foundation supporters. This year’s YEF class of entrepreneurs walked away with $145,000 in prizes, ranging from $1,000 to $15,000 each.
To some graduates, it’s probably more fun to splash in the sea with friends for a few days. But the YEF awardees have already got a jump start on future careers as small-business owners.
To qualify for the awards, which must be used to help fund their attendance at universities, colleges, community colleges or career institutes of their choice, students must be in their final year of high school but are also required to own or operate their own small businesses.
At the beginning of April, the top five 2014 winners were each awarded a $5,000 scholarship. On July 16, two of these five students will each be awarded an additional $10,000 scholarship to apply to their college tuition. At a ceremony in Washington, D.C., one student will be dubbed the “2014 Young Entrepreneur of the Year” and the other will earn the “2014 Dan Danner Leadership Award.” Both awards acknowledge the dedication and successes that these students have achieved as entrepreneurs and budding small-business owners.
Among those five are the creators of small firms including a book publisher specializing in domain literature; an agricultural-business owner who produces corn, soybeans and cattle; an event and party rental entrepreneur; an online jeweler; and a photography studio operator.
Another way the foundation encourages the entrepreneurial spirit is by recognizing that many of today’s job-creators began their free enterprise journey as kids operating ventures such as traditional lemonade stands on neighborhood corners. To celebrate these efforts, the YEF urges current small-business owners annually to pledge online to purchase a glass of lemonade from a young entrepreneur and invest in the future of small enterprise.
In taking the “lemonade pledge”, they support young people in their communities who show the initiative to learn about entrepreneurship, teach kids life skills through entrepreneurial education, and foster the idea of free enterprise among the nation’s youth to consider careers in small business and entrepreneurship.
Through these efforts, YEF and NFIB are committed to educating young people about the critical role of small business and the American free enterprise system, ensuring that small business will always have a voice.
