BY ONE HEN
Students at the Red Oak After School and Summer Program in Chinatown, a Boston Center for Youth & Families site, partnered with One Hen, Inc. this summer to teach children social entrepreneurship by way of basic financial literacy, money management and business skills. Participating students received microloans to start a simple business. The students at Red Oak chose to run a snack bar, selling their tasty treats of brownies and cookies and donating a percentage of their net revenue to a charitable cause. One Hen’s youth entrepreneurship program is one of the many services offered by the Boston Chinatown Neighborhood Center, a nonprofit organization that has been serving Boston and Greater Boston for over 40 years.
The young entrepreneurs in the One Hen Academy (OHA) program at the Red Oak Summer Program sold their products, practicing their best sales pitches and marketing tactics to make the most money possible for a good cause. In the process of making their products they learned about such financial terms as cost, revenue, and profit, determining what they could afford to buy with their microloan, how much they could sell their products for, and how much profit they were then likely to make on their sales. They were then able to anticipate their net profits and spend time researching the most appropriate social cause to which they planned to donate a portion of the profits. Their total profit was $60, and they will be donating $30 to the YWCA in support of anti-violence programming.