Building leaders
Young Millionaires program celebrating 25 years
Jeremy Noonan was a 10-year-old kid from Kinkora when his entrepreneurial spirit was kindled.
It started with potatoes. One of his classmates had joined the Young Millionaires program in Bedeque and had started a small business selling bags of spuds at a roadside stand. “I kind of got thinking, ‘Well jeez, I would kind of like to have my own business too,’” he recalled.
Noonan joined the Young Millionaires and started a business cleaning cars, something he’d been doing anyway to help earn his allowance.
“You know what? I actually washed a lot of vehicles,” he laughed.
“Over a period of a couple of years … I probably did 10-a-month anyway.” Now, at 30-years-old, Noonan’s business interests have taken a slightly more high-tech turn.
He is the owner and co-owner of two technology based businesses in the Charlottetown area. JNC Tech makes custom software applications for large businesses and Compass Aquaculture specializes in mussel and oyster farm management software.
Noonan credits the Young Millionaires program with helping him get a leg-up on the skills essential to being a business owner.
“It definitely helped a young me gain interest in the idea of running your own business,” he said.
Since its creation in 1992 the Young Millionaires program has introduced more than 2,000 students to the realities, good and bad, of running a business.
Open to children from eight to 16, Young Millionaires is funded by Innovation P.E.I. and the Atlantic Canada Opportunities Agency.
The program is introduced through the school system though it continues into the summer.
Participants present business ideas to the organization and if approved, they get up to $100 towards start-up costs.
Prior to launching their business, participants receive lessons on money management, customer service and other skills. They also shadow a current business owner and are partnered with a mentor for advice.
At the end of the summer participants write and present a speech about their experience. About 150 students participate in the program every year.
Karen Duffy, executive director of Young Millionaires, said many of the program’s graduates have gone on to have careers in business, like Noonan, but those who don’t become entrepreneurs, gain valuable skills.
Duffy said her favourite part of the program is seeing kids come out of their shells and boost their confidence.
“We have a lot of people that come to our program who may not be succeeding in the educational system in academics … but they come here and they find pride of ownership in working for themselves,” she said. “They have a sense of accomplishment they may not get with their academics in school. It’s tangible.
“They can sell their products, count their money and build from there. I always love seeing some of those students finally succeed.”
Young Millionaires is marking its 25th anniversary this year and is organizing a celebration and reunion at Off the Wallz in July. All past and current participants are invited and anyone wishing to attend is asked to contact the organization’s office at -902-887-3400 to register for free.
More information about the program can be found online at www.youngmillionairesprogram.ca.