More books=Brighter futures
Studies show that children with more physical books in the home do better, on average, than those with less books. One plausible reason why is that, even if the child doesn’t read all those books, he/she is accustomed to using books for learning. Exposure to ideas and information that one is not directly fed at home is where public education can bring added value.
Daily Critical Race Theory shout-fests aside, what’s being taught in schools should be reassessed from time to time to ensure kids are well-rounded and prepared for eventual adulthood. The exposure to core competencies (and usually the least controversial and helpful) is often overlooked, irrespective of which theories are currently fashionable.
What should unite us in education are skills that make success more attainable for all. So why don’t U.S. schools teach the fundamentals of starting or owning a business? Why don’t we expose U.S. children to the exciting possibility of entrepreneurship?
Taking middle-school kids through a basic business plan, registering a business with the state, basic accounting, and — of course — taxes, will teach perspectives they may appreciate for their entire lives. Challenging kids to engage a local Chamber of Commerce or a small business development resource center can expose them to free or low-cost resources to give them an even better chance of succeeding. Showing how community service through volunteerism and philanthropy help their communities as well as their customer bases.
Most kids who learn how to write a business plan and sketch-out some rudimentary calculations aren’t automatically assured to be the next great American business success story. What is far more likely is that — decades later — an employee takes a chance at starting an entity that supports their family and may have a few employees. This proposition is a worthy one for our country and one that should engender wide support, given Americans’ positive view of small businesses.
As I think back on my own educational journey, I keep coming back to two classes I took in the eighth grade that highlight this exposure principle in practice.
An eighth-grade math teacher made a radical contribution to my life by basing weekly math quizzes on the real-world stock market tables. The teacher had created his own template, which included copies of Wall Street Journal stock tables with blank spaces inserted to change numbers and related calculations. We learned what a P/E ratio was, how stocks can go up and down, and how valuations can change. While the focus was on math, we quickly became comfortable with the basics of stock markets. Decades later, it was that early exposure to the market that gave me comfort when considering investment options and asset allocation.
Similarly, I also took a home economics class for a semester that same year. These economics were not the laws of macro supply and demand, but how to cook, repair clothing, and how to maintain a suitable living environment. These fundamentals paid dividends over the years by avoiding pricey but minor clothing alterations, preparing inexpensive meals at home, and having presentable accommodations. In the end, I didn’t make a career of becoming a math expert or get my own HGTV show, but adult living was that much less intimidating.
The bottom-line is that the small business bottom-line should be part of any 21st century U.S. public education course offerings.
Bill Briggs (@billbriggs) is an expert on small business and an adviser to financial institutions. He most recently served as the Acting Associate Administrator for SBA’s Office of Capital Access where he oversaw the launch of the Paycheck Protection Program (PPP).
