Get to know us
At Next Generation School, real experiences are an integral component of the learning experience. Our Kidpreneurs program provides a platform for young students with big ideas the chance to experience how to run a business. We believe this program has great educational value to foster creativity, entrepreneurial skills and financial literacy in our students.
Next Generation School has implemented a classroom economy system two years ago, which is part of the Life Skills/Leadership Program at the school today. Our system is based on “My Classroom Economy”, a program that enables our staff to teach children financial responsibility through fun and experiential learning. The system is one of the first of its kind in Dubai that enhances 21st century financial skills and connects to real life.
HOW IT WORKS
Step 1: GSS System
The delivery of the program is based on the GSS system (Give, Spend and Save). Rather than being told about the importance of these skills, the students actually experience them. Through this experience, the students develop into responsible citizens who are prepared for the challenges of the real world.
Step 2: NGS Currency
The system runs on NGS currency and students experience expenses to mimic the real world by paying rent for classroom real estate such as desks/space to understand how to manage their money. The system also teaches students financial management and the importance of saving money as much as it improves their math skills and develops their decision making and analytical skills.
Step 3: Business Plans
Kids submit their business plans which include the idea, product details, branding of the business and how they plan to market it. Every student at NGS has the opportunity to submit a business plan for approval. Students can also apply for jobs in different departments to get fixed salaries. These jobs can be anything from video maker to professional football player.
Step 4: NGS Store
Finally students who have approved business plans have to execute their plans and bring the products to school to sell them to their peers at the NGS Store. Kidpreneurs are given advertising spaces around the school where they're encouraged to design and hang posters that tell other students about their products.
KIDPRENEURS IN ACTION
The NGS Kidpreneurs store runs daily during the first break where students from different grades take turn to present and sell their products to their peers using the NGS currency.
During Kidpreneurs Market Day, students who have had an approved business plan and experienced selling at the NGS store get an opportunity to sell to their family and friends using real currency.