Entrepreneurship among teens growing

from Business Week Online

LEADERSHIP
By Jessica Thacher
Cultivating Biz Whizzes

More teens are starting their own businesses, and groups like the National Foundation for Teaching Entrepreneurship are helping them do it.

Many people who decide to become entrepreneurs do so because they aren't satisfied with the options offered in the corporate world. Natasha Spedalle was no different. At age 14, she wanted to land an after-school job, but most potential employers told her she was too young. So she decided to start her own business.

Her New York-based outfit, BliNg-BliNg Discount Fashion Jewelry, sells affordable, trendy accessories at street fairs and on college campuses. "It gives me a sense of fulfillment knowing that I can do it at such a young age," she says.

CHANNELING DREAMS.
Spedalle, now 15, is among a growing number of teens and young s who are taking the entrepreneurial path, particularly within lower-income communities. "Entrepreneurship is the ultimate social-justice program," says Michael Caslin, head of the National Foundation for Teaching Entrepreneurship (NFTE), a New York-based organization that partners with schools and community groups to teach young people in economically deprived areas how to run a business.

Founded in 1987 by Steve Mariotti, a former businessman and New York City schoolteacher, NFTE now works with nearly 20,000 kids each year in 45 states and 16 countries. By teaching young people basic business concepts, such as business-plan writing, marketing, negotiation, and pricing, Caslin says the foundation helps them "channel dreams into reality." NFTE recently honored Spedalle and 28 other young entrepreneurs at its 12th annual awards banquet in April.

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