The Bank
Windhoek group of companies has been supporting entrepreneurial development
among children of school going age through the Bank Windhoek BizzKids
competition. Last year, the winners were Keanu da Silva (13) and Keyat da Silva
(11) trading as “Team D” from Eldorado Secondary School and M H Greeff Primary
School. The business product they created was the “My Do and Get Book”. In basic terms, the two brothers sold work
plans for children to do household chores to teach them to be responsible and
at the same time earn pocket money for household chores done.
Wikipedia
explains “pocket money” as follows: An
allowance is an amount of money given or allotted usually at regular intervals
for a specific purpose. In the context of children, parents may provide an
allowance (British English: pocket money) to their child for their
miscellaneous personal spending.
The person providing the allowance is usually
trying to control how or when money is spent by the recipient so that it meets
the aims of the person providing the money. For example an allowance by a
parent might be motivated to teach the child money management and may be
unconditional or be tied to completion of chores or achievement of specific
grades
As a
consumer activist the business idea of the brothers really caught my attention.
First, it explains the importance of children being given the responsibility of
doing things around the house as part of their contribution. Secondly, it adds
the element of understanding the value of these chores in terms of earnings.
These earnings (points based system) are converted into an agreed amount in
Namibian dollars that the child can receive at the end of every month as their
allowance. Thirdly, it leaves a long lasting experience for the child to
prepare them for the “real” world where nothing in life is free.
The book is
a daily reminder (when used correctly) about what is responsibility while
reminding the child of the rewards due for the work done. This moral lesson is
reinforced by the weekly checking of both chores and points awarded. At the end
of the book, it also allows for a balancing to be done of both parties
contribution to the work programme outlined in advance.
The
business idea has now been formalized and the duo, together with their parents
is shopping around to find a corporate sponsor. I hope that corporate sponsors
are open to this idea, and link it to other products to also include saving and
banking of these allowances.
Milton Louw is a Namibian consumer activist and
is not affiliated to the business “My Do and Get Book” in any way or form.
