Assemblywoman Angela V. McKnight has introduced legislation to promote the benefits of business ownership to New Jersey’s youth.
The legislation (AJR-163) would designate the second week of June as “Kids Entrepreneurship Awareness Week.” During the week, public officials and citizens would be encouraged to educate youth about the possibilities of a career in entrepreneurship and the skills needed to run a thriving business.
“Small businesses are the backbone of the New Jersey economy, so it can only benefit the state for us to encourage an entrepreneurial spirit in the next generation,” said McKnight (D-Hudson). “Children need to understand that if they work hard they can not only work for a great company but also have the option of starting a great company.”
The nation’s 25.8 million small businesses employ more than 50 percent of the private workforce, generate more than half of the gross domestic product and are the principal source of new jobs, according to the U.S. Small Business Administration. Considering the major impact of small businesses in America, the recent decrease in New Jersey’s rate of start-up growth ought to be a principal concern, said McKnight.
“Despite the many benefits of entrepreneurship, young people rarely receive any information about business ownership as a career option or any formal education on how to start a business,” said McKnight. “During Kids Entrepreneurship Awareness Week, parents, teachers and community leaders can work together to prepare the state’s youth to be responsible, enterprising individuals and gain the skills they need to be the business leaders of tomorrow.”
McKnight also introduced legislation (AR-274) urging federal officials to make the second week of June “Kids Entrepreneurship Awareness Week” nationwide.
Both measures were referred to the Assembly Labor Committee.