Lemonade Day, a nonprofit national youth entrepreneurship program that teaches children business and financial skills through their own lemonade stand, will launch in Puerto Rico in 2019, with an event in May, local director Natalia Subirá confirmed.
Organizers expect to hold the first Lemonade Day on May 4, in San Juan, Guaynabo and Cataño. Since 2007, more than 1 million young people have participated in Lemonade Day establishing and operating lemonade stands in communities in the U.S. mainland and Canada.
In 2018, 66 cities supported the initiative that promotes leadership skills, entrepreneurship, empowerment, planning, philanthropy and decision-making.
This program is aimed at children between the ages of 7 and 12 who, accompanied by their parents, relatives, or volunteer mentors, develop a business plan using guides provided by Lemonade Day. The children develop their product concept, look for investors for their business, create their brand, identify their location and on Lemonade Day, they set up their business.
Of the profits generated, Lemonade Day encourages children to invest one percent in something they want, one percent in savings, and another percent in sharing it with a cause that is of interest to them. Registration and business planning guides are free of charge for participants.
Subirá said that studies show that communities and organizations that promote the Lemonade Day initiative obtain the same benefits as the young adults and mentors who participate in the program.
“We’re willing to give all Puerto Rican children the opportunity to put their many talents to create and operate their own businesses,” Subirá said.
“We’re very excited because we already have the corporate support of Evertec Inc. and Gustazos, and a variety of private sponsors,” said Subirá, who urged entities interested in promoting entrepreneurship among young people to join the efforts of Lemonade Day in Puerto Rico.
Lemonade Day has four main objectives: to deliver financial education to public and private school curricula; promote entrepreneurship as a key element to reactivate the island’s economy; teach young people to be responsible, self-sufficient and to contribute to the development of their communities; and promote mentoring and unite families.
Tere Nolla, executive director of the Center for Economic Renewal, Growth and Excellence (CRECE, for its initials in Spanish,) the nonprofit organization holding the license for Lemonade Day in Puerto Rico, said “at CRECE we’re very excited about the arrival of Lemonade Day to Puerto Rico. We’re convinced that entrepreneurship is the key to progress.”
“That’s why it’s so important to sow the seeds of entrepreneurship from an early age. Lemonade Day encourages our children to pursue their dreams and prepares them with the knowledge and skills necessary to be successful business men and women,” she said.