A local accounting firm is teaching kids the basics of entrepreneurship.
On Thursday, about 60 kids filled a lemonade stand on 4th and Madison. The stand is part of a “Lemonade Camp” run by the firm Cristensen Brozek Faltys. CPA Andrew Steffensmeier says the kids are learning useful business tools.
“We like to teach them budgeting, what their allowance is, we use allowance a lot. We do a budget, if they want to spend their money or save their money, and just some discipline on what they spend their money on.”
The kids started the day doing different activities. Camp goer Eva Foreman says she learned a lot about wants versus needs.
“Like some things we didn’t really need. Like we really didn’t need toys. We want toys, but we don’t need them. And we watched videos about savings accounts.”
After morning activities, the kids put what they learned to use and operated a lemonade stand.
“We have a lot of kids handling the money, it’s good for them, maybe they haven’t handled this much money before. They’re making change. You know, they’re not usually working jobs that they’re making change at, so things like that. They’re doing a lot of advertising. Just a lot of teamwork out here. It’s kind of good for them to be together working towards a common goal.”
The firm has been putting on the camp for the past seven years, and all the money raised at the camp is donated to Read Aloud Norfolk.