FORUM Credit Union sponsors contest for entrepreneurial kids - 13 WTHR Indianapolis

FORUM Credit Union sponsors contest for entrepreneurial kids

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Are you interested in teaching your child about financial responsibility? A new program from FORUM Credit Union can help.

FORUM is sponsoring a contest for kids who want to start their own business. Contestants can win $100 for their idea.

The program helps youths 8-19 with every step in the process.

Step 1: Idea

The first step to any business is to come up with an idea. Children can start a business by expanding on their talents and interests or by simply targeting an area in which they want to make money. Some business ideas based on ages are:

Ages 8-14
Pet sitting
Art skills – crafting, painting, scrapbooking
House work – painting, cleaning

Ages 15-19
Tutoring
Babysitting
Lawn mowing

Step 2: Marketing

Depending on the business idea, marketing can simply mean finding a customer through friends and family. For older kids, it may be passing out flyers, using social media to showcase their products, and even business cards.

  • Flyers
  • Business Cards
  • Social Media Presence
  • Word of Mouth

Step 3: Administration

Running a business can seem pretty intimidating for anyone, and like any new business owner, children will learn from their successes and mistakes. Most children can easily run a small business with the help of an adult. For more robust businesses, it would be important to:

Step 4: Financial
Once a business has been established, it's important for children to have a plan for the money they make. A great and easy concept to teach kids is the Three Money Principles of Save, Spend, and Share.


What to include in your video:

1. Your first name and business name
2. A description of your business
3. What you have learned from running your own business

Submitting your video:

  • Upload your video to your YouTube Channel, and then email Offers@forumcu.com with the url of the video
  • Minimum video length: 1 minute (60 seconds) Maximum video length: 2 minutes (120 seconds)
  • Click here for Official Rules
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