Business Starting and Scaling

Equipping young people with business skills such as marketing, finance, and entrepreneurship is more crucial than ever. These skills not only foster a sense of independence and innovation but also open doors to a wide array of career opportunities. According to a recent report by the World Economic Forum, nearly 50% of core job skills are expected to change by 2025, with a significant shift towards business acumen, digital literacy, and entrepreneurial thinking. Additionally, the demand for entrepreneurial skills has surged as industries increasingly seek individuals who can drive innovation, manage projects, spot and frame problems, and adapt to market changes.

High school students who gain early exposure to business concepts are better prepared to navigate the complexities of the modern workforce. A study by the National Association for College Admission Counseling (NACAC) found that students who engaged in business-related coursework during high school were more likely to pursue and succeed in higher education and career pathways that require strategic thinking and financial literacy. Furthermore, the U.S. Bureau of Labor Statistics projects that employment in business and financial operations will grow by 7% from 2021 to 2031, outpacing the average for all occupations.

Learning business skills in high school not only prepares students for potential careers in marketing, finance, and entrepreneurship but also instills a mindset that is adaptable to various industries. This is evident as every sector has entrepreneurship and leadership opportunities, making these core transferable skills for all young people to possess. As the global economy becomes more global and interdependent, the ability to think strategically, manage resources effectively, and innovate will be invaluable. This foundational knowledge empowers young people to become leaders and change-makers in whatever fields they choose to pursue.

Fortunately, these skills are on the rise. According to the Global Entrepreneurship Monitor, Of 74 participating economies, 38 have shown a significant increase in early-stage entrepreneurial activity since their first participation. Additionally, numerous programs and schools have emerged across the country that allow young people to take on client-connected, real-world problem-solving. Despite the growth, the numbers are still far lower than they should be.

Why There is a Demand for These Jobs

• Technological Advancements: The integration of digital technologies, AI, and data analytics into every facet of business operations is transforming how companies operate, market, and compete. Businesses require professionals who understand digital marketing strategies, can interpret data-driven insights, and manage online financial transactions. 
• Skilled Workforce Shortage: There is a growing shortage of workers with the necessary business acumen to lead in areas such as finance, marketing, and entrepreneurship. A study by the National Federation of Independent Business (NFIB) found that 89% of small businesses struggle to find skilled workers with the right financial and managerial expertise. This shortage is especially pronounced in the context of startups and small businesses, where versatile and strategic thinking is key to survival and growth.
• Globalization & Population Growth: As businesses expand into global markets, the need for professionals who understand international marketing, finance, and cross-cultural business practices is increasing. The World Bank reports that global trade is expected to grow by 3.7% annually over the next decade, driving demand for expertise in global finance, market analysis, and entrepreneurship that can navigate international complexities and opportunities.
• Consumer Behavior: The rise of e-commerce and changing consumer expectations have fundamentally altered the marketing landscape. Businesses must now be more agile and responsive to consumer needs, requiring a workforce adept at digital marketing, customer relationship management (CRM), and consumer data analysis. 

Future Trends

• Automation, AI, and Robotics: As automation and AI continue to advance, many traditional roles in marketing and finance will evolve. For example, AI-driven analytics tools are increasingly being used to optimize marketing campaigns and financial forecasting. 
• Customization and Personalization: The future of marketing is moving towards hyper-personalization, where businesses use data analytics and AI to create highly tailored customer experiences. This trend requires marketers who are not only skilled in traditional strategies but also proficient in data science and machine learning. 
• Sustainable and Ethical Business Practices: As consumers become more environmentally conscious, businesses are under increasing pressure to adopt sustainable practices. This trend is creating new opportunities in green finance, sustainable entrepreneurship, and ethical marketing. A 2023 report by Nielsen found that 73% of global consumers are willing to change their consumption habits to reduce their environmental impact, driving demand for business professionals who can lead sustainability initiatives.

The Management & Entrepreneurship Career Cluster involves skills and occupations that are essential across all industries, focusing on optimizing operations, strategic planning, and workforce management. It merges key areas such as accounting, data management and analysis, human resources, general operations, project management, and leadership. This cluster ensures businesses of all sizes and types efficiently meet their goals, adapt to market changes, and maintain competitive advantage.

Credentials

• The Project Management Professional certification from PMI. Targeted at experienced project managers, the PMP certification requires 35 hours of project management education combined with project management experience (aspiring PMPs do not need to have had a “project manager” title). It validates a professional’s ability to manage projects efficiently, making it a valuable credential for advancing in project management roles.
• CompTIA A+. A wealth of IT certifications exist; this option is commonly cited as the place to start for beginners. Targeted at entry-level IT professionals, this certification requires passing two exams that cover foundational IT knowledge. It is a widely recognized starting point for IT careers, validating essential skills needed for various technical support and IT roles.
• Certified Internal Auditor. Aimed at internal auditors, this certification requires a bachelor’s degree, work experience, and passing three exam parts. It is the only globally recognized certification for internal auditors, enhancing career prospects in audit and compliance roles.
• Entrepreneurship and Small Business. Designed for aspiring entrepreneurs and small business owners, this certification requires knowledge of business fundamentals and entrepreneurship. It helps validate an individual’s ability to start and manage a small business, making it useful for those looking to build or grow their own ventures.
• The SHRM-CP and SHRM-SCP. Targeted at HR professionals, SHRM-CP is for early-career HR practitioners, while SHRM-SCP is for senior-level professionals. These certifications require HR experience and knowledge of HR competencies, providing recognition and credibility in the HR field.

Entrepreneurship Programs

Over the last few years, we’ve seen great examples of what entrepreneurship education can look like through programs like STARTedUp, Venture Lab, and Doing Whatever it Takes.

The B-Corp School program InventoLab provides a wonderful example of bridging social innovation and social entrepreneurship together by creating a program that encourages students to use business to do good. Students have the opportunity to learn about sustainability and entrepreneurship through training, their own venture creation, or by connecting with and learning from local social businesses. Platforms like the YCM Challenge create community and spaces for youth to develop and implement solutions towards the challenges they care about. Ashoka has been a pioneer and thought leader in the entrepreneurship space since the 1980s. They have great resources and programming to support young social innovators. Earth Foundation donates money to youth-led projects that address the environment.

Additionally, organizations like The IB are getting involved. They launched a Festival of Hope to give youth a voice and, as a follow-up, they’ve partnered with HundrED to support young innovators and actors. These sorts of opportunities provide ideal pathways to bridge purpose with innovation and entrepreneurship.

Nalukai Academy | Hawai’i: In Hawai’i, entrepreneurship and place are inextricably linked. Students often identify climate challenges and address them with innovations of place or returning to more ancestral practices. The student entrepreneurship accelerator Nalukai is an incredible catalyst for place-based entrepreneurship. Aaron Schorn shared “When you work with others you [start to] care about the problems they face, the communities they’re in […] Making entrepreneurship place-based is so vital.”

One example of this is Mauka Market, a regenerative farmer’s market concept created by Trinity Asing, an alumni of the“My senior year of high school I started a farmers market as part of a class project on how we could make our school more sustainable. This made me fall in love with entrepreneurship and sustainability,” said Trinity Asing in an episode of the Getting Smart Podcast.

The Knowledge Society (TKS) | Online: TKS is one of the most revolutionary problem-based high school supplements that we’ve seen. Their main goal is to train students to be innovators and to solve real-world problems. Here are a few examples from past conversations: 

• Theodore is a 15-year-old who is focused on solutions to the climate crisis. This has led him to work on climate tech projects in the lithium-ion battery space: working with a PH.D. student on her project of using ultra microelectrodes to increase the ionic conductivity of lithium-ion batteries at the University of Quebec (UQAM) battery research labs.
• Rachel is a 16-year-old activator at The Knowledge Society (TKS), with a deep interest in CRISPR and crop improvement. She is passionate about leveraging AgriTech to improve agricultural productivity in developing countries. 
• Sofia Sanchez is passionate about synthetic biology, biotechnology, and innovation. She attends Tecnológico de Monterrey in Mexico. She is currently learning a lot about exponential technologies to soon start a company that impacts the world positively.
• Naila Moloo attends The Elmwood School in Ontario and is passionate about sustainable energy, specifically where it intersects with nanotechnology. Naila loves to learn about anything related to emerging technology, ranging from quantum physics to space exploration.
• Aaryan Harshith attends Lo-Ellen Park Secondary School in Ontario and is working to create a better, healthier world through the things he builds and the research he conducts. For the past two years, his primary focus has been building a medical device to enhance cancer diagnosis during surgery and he is currently in the process of running human trials for it.

Hear these learners share in their own words in this episode or this episode. 

NFTE | National: The Youth Entrepreneurship Challenge from NFTE is an 8-month opportunity to build and pitch a business. In these experiences, students polish ideas, business plans, and presentation skills to compete for cash prizes—seed capital for business launches or educational goals.

The Financial Services Career Cluster encompasses careers in managing and advising financial transactions, including banking, lending, corporate finance, debt management, accounting, insurance, and real estate. These careers contribute to economic stability and growth by supporting the financial health of individuals and organizations. While many of the most lucrative careers in Financial Services remain gated by higher education requirements and a culture that prizes existing connections within the field, many credentials exist to help build and refine related skills, particularly within the insurance and real estate sectors.

Credentials

• Real estate broker licenses are issued at the state level, and each state has its own process and requirements for earning a license. Usually, courses take about 90 hours, and the timeline nationally is typically estimated at 3-4 months. We recommend researching your state’s policies and requirements if interested in pursuing this field.
• Associate in Insurance. Designed for aspiring insurance professionals, this certification requires completing courses on insurance principles, personal and commercial insurance, and elective topics. It provides foundational knowledge of the insurance industry, making it valuable for those starting or advancing in insurance careers.
• Certified Risk Manager. Targeted at professionals in risk management and insurance, this certification requires completing five courses covering risk management principles, analysis, control, financing, and practice. It validates a deep understanding of risk management processes, enhancing career opportunities in risk management and insurance roles.
• Accredited Advisor in Insurance. Aimed at experienced insurance professionals, this certification requires completing courses on agency operations, sales management, and advanced insurance topics. It enhances expertise in advising clients on insurance needs, and positioning professionals for roles in insurance sales, agency management, and client consulting.
• Accelerate Impact Suite. Targeted at insurance and financial services professionals, this certification involves completing a series of courses on key industry topics, including customer experience, data analytics, and leadership. It provides practical skills to drive business impact, particularly in customer-focused and leadership roles within the industry.
• Chartered Life Underwriter. Designed for financial advisors and insurance professionals, this certification requires completing advanced courses on life insurance, estate planning, and financial planning. The Certification validates expertise in life insurance and wealth transfer, enhancing career prospects in financial advising and insurance planning.
• Certified Regulatory Compliance Manager (CRCM). Aimed at professionals in financial services compliance, this certification requires experience in compliance and passing an exam that covers regulations, risk management, and ethics. It validates expertise in managing regulatory compliance, making it essential for roles in compliance, risk management, and legal affairs within financial institutions.