Not so long ago, a magazine on child psychology carried out research among teenagers’ parents in order to identify the topics which parents feel too shy to discuss with their children. It turned out that there are no greater forbidden subjects than ones connected to sex and money. Sex is in second place and money tops the list. Answering the questions of this research, parents said: “We don’t know how to speak to our children about money”.

We give our children presents, give them pocket money and encourage them with money for their good marks, but we do not give them the main thing – that is the experience of earning money and money management. This experience is more valuable than any money.

In the schedules of ordinary city schools in England, Germany, the USA and Canada, there are classes where children obtain knowledge on how to make their own personal budget for a week, i.e. calculate expenses for school breakfasts, costs of stationery and public transportation. Teenagers are taught to reconcile the balance, save money, invest, fill out tax returns, present their own business projects and search for the possibility of additional earnings.

It is illustrative to compare the cost of education and the income level of graduates. In economically developed countries, it is believed that the earlier children start to learn financial laws and rules, the faster they will realise the logic behind them and, thus, the more successfully they will build their future.

In the modern world, it is not enough to be good people. Children do not feel shy to say they want to be rich, famous, successful specialists and to measure their social wealth, including finances. We should help our children to become creators and teach them to control their money. It is more than simply controlling wealth, though. They need to be able to create their financial future.

In Cyprus, there are numerous opportunities and every chance to raise our children to be healthy and happy. Now, we have an opportunity to give them a “business education”, as well. It is an indispensable advantage that cannot be ignored. This aspect of education will determine their future, as they develop their critical thinking skills and best qualities in the process. The modern world needs new leaders who are able not only to earn money, but also to change the lives of people for the better.

The first Academy of Business and Entrepreneurship for Children and Teenagers in Cyprus will begin its work in September 2018. The main purpose of this project is to help children and teenagers acquire knowledge useful in adapting and thriving in the modern world.

The Academy will successfully implement the European system of teaching financial literacy. Unique programmes will build on step-by-step learning of practical skills, leading to stellar results. There will be an individual approach to every child, with guaranteed learning of course material. All of this will be possible!

The following programmes will be implemented at the Academy:

1. Business Thinking

• Fundamental concepts of financial literacy, banking, law and personnel management. Fundamental knowledge: What is money? Where do you get it? How do you properly manage it?
• How to properly build credit relations, how to manage, save and invest. How to avoid credit dependence.
• Legal literacy. Knowledge of the his rights and responsibilities, understanding the contractual relationship and the ability to protect the

2. Leadership and Creativity Learning

• Development of emotional intellect,
• Development leadership skills and team building skills,
• Development the ability to use self-organisational skills and responsibility.

3. Career-Orientation

The aim is to have one’s own success strategy, healthy ambitions and the ability of long-term planning. Also, being able to adapt to changing circumstances, find ways out of the most difficult situations, “declare” yourself, set a price for your work, not be afraid of competition and be independent and responsible. To become a person who can turn his/her dream into reality, turn problems into opportunities and gain the capacity to not be afraid of finding creative ways of using limited resources for achieving goals, true commitment and knowledge is required.

It is not enough just to ‘‘know’’. It is necessary to apply obtained information in practice every day. Knowledge is just knowledge! It gives power, but it does not give results. You will get results when this knowledge is brought into your life. For this purpose, the Academy of Business and Entrepreneurship for Children and Teenagers promotes the opportunity to invent, create, implement and present projects and start-ups throughout the educational process. Those who successfully graduate from this programme will be given a chance to participate in teaching younger children, allowing full use of obtained skills. From beginning to master business knowledge while listening to the first seminar to teaching others by utilising the knowledge and skills gained, a metamorphosis will be witnessed in many students.

Caring for children is giving them the opportunity to realise what success and well-being is made of, teaching them to make decisions and showing them how best to take responsibility in life. These attributes will dictate the health of the present and the future of business-systems, as economic and political projects are implemented by skilled and competent individuals working both efficiently and successfully.