After a challenging year of economic recession and high unemployment rates, it is more important than ever that Mainers are educated about managing finances and developing business opportunities. President Barack Obama has called for an increase in creativity during this challenging time, mentioning the need for entrepreneurship and its related skills to be taught in schools from an early age, where students will pick up tools for success at all grade levels. No program is better suited to accomplishing the president’s goal than Junior Achievement.
Because so much of Maine’s economy is centered on small businesses, it is crucial for the state’s well-being that we give students the necessary knowledge to manage finances, ensuring a bright future not only for the state’s youth, but for its economy as well. Junior Achievement is a crucial link between the state’s students and its economy, teaching these skills to nearly 9,000 Maine students each year. Junior Achievement of Maine, or JAME, has been working since 1965 to provide students with this knowledge, but it is even more important now, in 2009, that students are geared up for success.
JAME is a nonprofit economic education organization promoting entrepreneurship, work force readiness and financial literacy to students from kindergarten through 12th grade throughout the state of Maine. In the past five years, JAME has reached nearly 46,000 students in 2,300 classrooms statewide. Even in an economy that put time and cost constraints on schools, families and volunteers, more than 350 volunteers for JAME last year taught 8,500 students in 457 classrooms. Locally, about 100 Junior Achievement volunteers taught 1,741 Bangor-area students last year.
Unfortunately, JAME will not be able to meet its goal of complete financial literacy without filling the gap that exists between needs and resources. In the Bangor area, we have seen interest rising steadily each year. In the 2006-07 school year, we served 36 classes in the area. This year, we have received more than 115 class requests and still need 50 more volunteers to fill that need.
Statewide, we received 691 class requests this year — the highest number JAME has seen to date. Schools continue to realize how important these financial and entrepreneurial skills are for success in today’s economic climate and tomorrow’s business ventures. JAME would like to provide support and education everywhere it is requested, and has developed the efficiencies to provide materials for a six-week curriculum for only $500. However, to serve all the class requests, JAME would need 150 more volunteers and $100,000 in program funding.
With these additional resources, JAME would be able to reach 4,000 additional Maine students this year, getting even closer to its mission of ensuring every Maine child will have a fundamental understanding of the free enterprise system. Four thousand more students would have the skills to make responsible budget choices, contribute to Maine’s small businesses, and even start businesses of their own someday.
JAME provides volunteers with an easy-to-teach curriculum, teaching guides, and a real way to make a difference in students’ lives and in our state’s success. Junior Achievement volunteers come from all sectors of the economy to participate in Maine’s classrooms: they are lawyers, managers, business owners, college students, artists, parents and retirees. They contribute their time in daylong to hourlong sessions with flexible scheduling and can choose from a variety of grade levels. The Junior Achievement curriculum informs students about budgeting, credit, business management and career choices and inspires the tradition of lifelong learning that makes so many of Maine’s successful small-business owners strive for continuous growth and innovation.
In order to solve economic difficulties, it is important to look to the future, long-term success of small businesses and entrepreneurs — not just a quick fix for today.
With the help of volunteers and donations to the programs, JAME provides such a long-term solution, helping create the next generation of fiscally responsible, creative-thinking, problem-solving entrepreneurs and community leaders.
Jamie St. Clair is vice president of KeyBank and vice chairman of the board of the Bangor region of Junior Achievement of Maine.