Students can win prizes, meet Warren Buffett (BKFK photos)
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Students can win prizes, meet Warren Buffett
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This week marked the launch of the 4th annual Grow Your Own Business Challenge for kids. It's sponsored by The Fairholme Foundation. The program and competition were created to encourage kids to think about how to create businesses and practice good financial habits.

The national online competition kicked off with the University of Miamis Launch Pad and the School of Education & Human Development. Launch Pad, an SMC partner, hosted an event for over 100 elementary and middle school students in the Miami area.

Click here to register

The SMC Grow Your Own Business Challenge is open to kids 714. They are invited to submit original business ideas for consideration. The competition furthers Fairholme's mission of improving [financial] education. It launched at noon on October 20 and ends on January 31, 2015.

Five individuals and three groups will be selected as finalists. They will present their ideas to Warren Buffett and a panel of VIP judges in May 2015 in Omaha, Neb. One grand prize winning individual and members of one grand prize team will each be awarded $5,000. The finalists will be invited to nominate a teacher who was most inspirational in the process to join them in Omaha and win up to $1,000. For full rules and to enter, please visit www.SMCkids.com.

Over 4,000 kids entered the competition last year. The grand prize winners were Jake Johnson from Charlotte, N.C., and group winner WiseGuide (Krystal and Allyson Graylin and Kei Chua) from Seattle, Wash. They were selected as the winners because of their creativity, entrepreneurship and inventiveness.

Parents and educators should both play an active part in teaching todays kids about financial literacy and money, says Buffett, CEO of Berkshire Hathaway. Encouraging young kids to become more involved and take a hands-on approach with their money is a great investment in their future.

The Secret Millionaires Club, an animated series created by Genius Brands International, is available online at www.SMCkids.com. It airs on the HUB Network. The series stars an animated Buffett, who records his own voice. He acts as a mentor to a group of kids as they learn important financial and business lessons.

The Secret Millionaires Club website also features online educational material. Educators, parents and volunteers can use the valuable lessons from Mr. Buffett in the classroom, at home and with after-school programs.

The National PTA, Girls Inc., Junior Achievement and 4-H are all partners in the program. By Kids For Kids Co. (BKFK), a leader in youth innovation, administers the program and competition.

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COMMENTS (21)
  • 8NANDISURUPI-Flo
    10/27/2014 - 12:07 p.m.

    I think that this is very helpful program for the children if they want to be a business man in future. I think it would be really helpful.

  • cm2001KING
    10/28/2014 - 08:41 a.m.

    I believe this idea is cool because it encourages kids to do something different and plus it gets kids off of video games because that's whats taking over the world now!

  • JosephBraxton-Pet
    10/28/2014 - 01:17 p.m.

    My opinion is that i think it's pretty incredible that kids can enter a competition and win prizes, like a championship trophy or other choices of prizes.

  • MikayahGriggs-Pet
    10/28/2014 - 01:22 p.m.

    My opinion on this article that this is a good article.I learned that kids can win prizes. I don't have a connection on this article.

  • DannyS-Cal
    10/28/2014 - 06:51 p.m.

    I like the article it is a great article. I didn't know they have a National PTA. It also talks about the Secret Millionaires Club.

  • Kamal-Abd
    10/29/2014 - 08:35 a.m.

    I think that it is great that there is a contest for student creations, but can it be something else that students can do to win prizes. For example, students can answer math problems, who ever answers the questions the fastest will win prizes. In conclusion, I will have to disagree with that idea.

  • taylorf-Tho
    10/29/2014 - 11:12 a.m.

    I have a question I have been wanting to go to 4-H forever how much is it. I would like to be a person that shows their horses, but I don't have one. I don't have the money.

  • zachary1023
    10/30/2014 - 01:06 p.m.

    I think its cool how your letting children try to make their own business. it Teaches them good work ethic. And its cool how they get to present their ideas to you. The kids enjoy to get 5.000 dollars to win. This article is really nice because it shows the kid's handwork.

  • MasonK-4
    10/30/2014 - 03:57 p.m.

    Warren Buffet is holding a competition for young people, to join the Secret Millionaires Club. The Secret Millionaires Club is for kids of ages from 7-14 years old. The club holds an annual competition for the said age group and the winning groups can receive various prizes. Finalists can win thousands of dollars and get a chance to meet Warren Buffet.
    This idea seems like a good way to bring up new ideas, and sponsor new businesses. If I could make an idea, it would be a business which would be an app which could show how long it would take to go somewhere by a commercial transporter.

  • ksadat-5
    10/30/2014 - 04:00 p.m.

    Warren Buffet has started a club called The Secret Millionaires Club. In this club, there is a " Grow Your Own Business Challenge." This challenge allows kids from ages seven through fourteen to come up with creative ideas about new businesses. Of the many people that participate, only five individual people and three groups are selected as finalists. Those finalists will have to present their ideas to Warren Buffet himself. Only one individual and one team can win. The winning team or individual is given each $5,000. Those finalists can choose one of their teachers to receive $1,000.

    I think that what Warren Buffet has created and organized is an amazing act of kindness. His challenge allows kids to become creative with ideas about new businesses. I would imagine it to be an amazing honor to become a finalist as you would share your new business idea to Warren Buffet himself. This article shows that Warren Buffet is a very generous and supporting man.

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