Starting her toy-selling business at the age of six, Jayden Karlee Castillo has expanded her offerings over the years, venturing into new products and reaching more customers.
Participating in the inaugural Kids Markets event in Millarville, Alta., near Calgary, Castillo showcased a range of items, including self-made bracelets, earrings, and 3D-printed toys, along with sourced products like hand sanitizers and squishies.
Having saved up for trips to Japan and the Philippines, Castillo also aims to treat her parents to a special dinner soon.
Various initiatives, such as BizKids Market in B.C., Kid2Kid in Toronto, and the Children’s Business Fair in Brandon, Man., provide platforms for young entrepreneurs aged five to 17 to showcase their creations.
Kids Markets Calgary has seen an average of 16 youth-run businesses at each of its market events since its launch in June this year.
According to Jodi Letkiewicz, a finance professor at California State University, the recent surge in child entrepreneurs can be attributed to factors like increased exposure to peer entrepreneurship on social media.
Lemonade Day Calgary, which encourages youngsters to operate lemonade stands, witnessed a record 792 participants this year, reflecting a growing interest in entrepreneurship among the youth.
Letkiewicz highlights the role of social media and accessible tools like YouTube and AI in empowering children to start and manage their businesses efficiently.
Jodi Letkiewicz, who studies how parents influence their children’s financial knowledge and behavior, is an assistant professor of finance at California State University.
The rising cost of living is also prompting kids to explore entrepreneurial ventures, as they become more aware of financial concepts and seek ways to earn money independently.
Childhood curiosity, creativity, and a willingness to take risks without fear of failure are additional factors driving the surge in young entrepreneurs.
Building a Strong Foundation for the Future
Ross Levine, an economist at the Hoover Institution at Stanford University, emphasizes the invaluable
