Jul. 13, 2007
Summer program gives kids the business
Portland Business Journal

It seems fitting that Maurissa Fisher runs Portland's Share the Wealth University Young Entrepreneurs Business Week. She's a rather young entrepreneur herself. Fisher, 28, is founder and executive director of the program, which is gearing up for its second year next week at the University of Portland.

Think of Young Entrepreneurs Business Week as a business boot camp. High school age students learn personal finance and business skills from entrepreneurs who volunteer as mentors and advisers. Participants form their own companies, write their own business plans and compete in a business-simulation game. On the final day, students prepare a presentation to be judged by business professionals.

Last year, the program's first, 26 kids participated. This year the program tops out at 80 students, who pay $295 unless they can find a sponsor.

The concept isn't new. Fisher resurrected Portland's long-defunct program, which used to be run by Associated Oregon Industries until 1993. Similar camps are held across the country and even internationally, though every state's approach is different.

Since it's so new, Portland's camp is smaller than most. Factoring in the cost of meals, housing and facility rentals, it costs about $1,000 per student. Fisher relies on corporate sponsorships and fundraising to cover the cost.

Fisher says some programs across the country are million-dollar, self-sustaining enterprises. Washington Business Week, for example, draws up to 350 students on four college campuses. It, however, is 33 years old.

Fisher realized the need for financial literacy as a fifth-grade teacher in Washington state's Yakima Valley. She came to the conclusion that school systems are adept at emphasizing fundamental concepts, but tend to neglect personal finance and business skills.

"Real-world experience is what's missing," Fisher says. "Students feel unprepared."

Like most young entrepreneurs, Fisher has bootstrapped Young Entrepreneurs Business Week. She only recently began collecting a small stipend, which basically covers her child care. Next year's budget is projected at $200,000 -- double that of this year -- though Fisher says she and her seven-member board of directors are working on revamping the organization and applying for more grants.

In five years, Fisher envisions serving up to 500 students annually on two college campuses, as well as offering programs that appeal to families and teachers.

"I want to make a difference," she says. "All we need to do is spread the word and I'm confident this will take off."

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