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Nurturing Entrepreneurial Mindset from an Early Age Through Business/Market Day Activities

Author: Indri Savitri, S.Psi, M.Psi, Psychologist, Child Psychotherapist

Nurturing Entrepreneurial Mindset

The preschool and lower primary years are very important for developing a child’s self-concept because self-concept is the foundation of self-confidence. Self-concept is the way a child sees or perceives themselves in different situations, and it is influenced by experiences with parenting, as well as the family and school environment. A strong self-concept means that the child has self-belief, trusts that they have abilities, and is motivated to take the initiative, speak up, and solve problems independently. Child mental health experts believe that one of the signs of a mentally healthy child is having self-confidence.

One activity that helps build self-confidence is Market Day. The purpose of Market Day is to introduce children to entrepreneurship by teaching them concepts like transactions, the value of money, self-confidence, communication skills, collaboration, persistence, and how to spot opportunities for innovation. This activity involves Early Years students from N1 (Nursery 1), N2 (Nursery 2), K1 (Kindergarten A), K2 (Kindergarten B), and even Year 1 students.  

At the beginning, Market Day focuses on introducing the process of the activity. The children take on roles as sellers and buyers, using even real money. As buyers, the children learn to initiate interactions, introduce themselves, explain the products they want to buy, and show communication and service skills. They also learn how to organize tasks, such as serving customers in an orderly way, from when they start until the product or food is ready to be served.

 In the early stages of entrepreneurship, children do not yet go through all the detailed steps, such as planning, understanding customer needs, selecting products, calculating production costs, and determining the price per item. These learning goals are better suited for older primary students and high school students. Although Market Day is just an introduction, it helps children develop skills that are very important in the 21st century and the information transformation era. These skills are known as PACE: Perseverance, Analytical Thinking, Communication & Collaboration, and Entrepreneurship.

Children enjoy taking part in Market Day and learn through hands-on experience. This is a great example of experiential learning, which supports children learning about life from an early age!

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