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P.E.I.’s Young Millionaires have a great year of sales

Young Millionaire Abigail MacWilliams, a partner of the company SA Stuff, shows the products she sold to help relieve sore muscles during a tent sale last summer in Abram-Village. SUBMITTED.
Young Millionaire Abigail MacWilliams, a partner of the company SA Stuff, shows the products she sold to help relieve sore muscles during a tent sale last summer in Abram-Village. SUBMITTED. - Contributed

CHARLOTTETOWN, P.E.I. – An impressive record of 28 young Francophones from across the province sold more than $15,000 worth of products of all kinds through their 19 small businesses last summer. They earned combined profits of over $10,400.
The youth were able to attain such great returns thanks to Jeunes millionnaires, the Francophone edition of the Young Millionaires program, which is managed by RDÉE Prince Edward Island.
"Our Young Millionaires this year, all aged nine to 16, come from the West Prince, Evangeline, Rustico, Charlottetown and Souris regions. They offered a very wide range of products, such as bath bombs, toys, souvenirs, jewelry, decorations, candles, greeting cards, candy, vegetables and even stress balls and reusable shopping bags," said Stéphane Blanchard, the RDÉE's youth development officer and program co-ordinator.
In late spring and early summer, the young millionaires had the opportunity to participate in three workshops to learn the basics of entrepreneurship, including business plans, market research, customer service, quality control, budgets and more. They were then asked to present their business plan to the program coordinators during individual interviews.
Each company received a grant to help set up shop and purchase raw materials. Individuals received up to $100 and up to $150 went to partnerships. In late June and early July, the young entrepreneurs set to work to produce and sell their products, sometimes with the support of their parents.
"This year, we funded youth entrepreneurial projects for a total of $1,935, including $920 for sole proprietors and $1,015 for partnerships," said Blanchard.
The program co-ordination team had also prepared a list of nine activities, events and festivals in which the youth could participate to sell their products; some of these activities lasted several days. Also, the young businesspeople identified additional points of sale on their own, often in their homes, neighbourhoods or communities.
A celebration evening for the Young Millionaires was held Aug. 28 at the Carrefour de l'Isle-Saint-Jean in Charlottetown. During the evening, each participant then gave a speech about his or her summer entrepreneurial experience and each received a certificate of participation.
"There is every reason to believe that the program will be renewed next year and we are already looking forward to seeing the ingenious ideas of our Young Millionaires,” said Blanchard.
The Young Millionaires Program is managed provincially by the Central Development Corporation.
 

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