Photo Credit: USAID/Albania

The First Taste of Entrepreneurship for 8,000 Students

Learning to Do Business
The First Taste of Entrepreneurship for 8,000 Students

November 2, 2003 | Tirana, Albania

All over Albania students have started up fast food services, travel agencies and entertainment companies in their schools. They have organized lotteries, shows, concerts and sold newspapers, CD's, jewelry and T-shirts that are designed and made by themselves. They are learning how to run a business and how to make money.

The USAID-funded Foundation for Economic Education of Youth (FEEY) is promoting good business practices in Albania through the Junior Achievement International program. In a country that is in transition out of an oppressive communist system to a democratic one where its citizens have only recently begun to own property and pursue private commercial opportunities, programs that prepare the next generation to be the future entrepreneurs in the country are essential.

Beginning in 1998, the number of students participating in FEEY's Student Companies Program went from 1000 students to 8000. Within 65 high-schools in 18 of 36 separate districts throughout Albania, 16 to 19 year olds are taught basic business tools and techniques. Never before have they used sales reports, stockholder certificates, sheets to record minutes or production slips. Never have they had the chance to come together as a group to learn about work ethics, payment of taxes, and marketing research. Today, Albanian students are actually building their own companies at their schools and learning to be responsible, law abiding businessmen.

The program lasts three to four months. School economics teachers begin by attending  an intensive three-day course in Tirana, the capital city of Albania. Out of the communist system, they often come to the course knowing little about the free-market economy and modern business practices. Following the course, they are able to take their knowledge back to their schools and promote the program. Those students who are interested will then form their potential business directorates complete with President, Vice President and Secretary, plus prepare a potential business plan to be implemented.

The economics teachers guides the students in their efforts to maintain company records and to conduct market research studies and advertising schemes as they build their companies and provide a service or sell a product to the community.

"There has not been a loss in any of the student companies," proudly explaining Lejda Matja, Director of the Foundation for Economic Education of Youth. Money to start up the company is earned by selling a maximum of five stocks to individuals or other companies with a value of 200 leke each ($1.50). Gains on stocks range from 20% to 400%. Students have enough money to pay salaries to their staff plus the obligated tax to the school before they close down at the end of the school year.

"I gained an experience that will change and influence my entire life," says Anjel Harizi, high-school student.

"As the finance officer of our company I had to pay attention to every detail. I tried to be transparent and provide accurate financial documents to the stock holders. It was not easy," says Elvana.

"By being part of this program, I learned that having a business is very interesting, but requires a lot of hard work, imagination, initiative and strict ethical standards. I am now really motivated to create my own business - the right way," expresses Ama Dhembi, another high-school student.

"We are changing a culture," says Lejda Matja. Today, students are working together and are proving to be strong leaders as they strive to create a better Albania for themselves and others.