A couple of weeks ago in the Wall Street Journal there was a very interesting article about a father and son that started a new enterprise that so far is succeeding quite well. A 15-year old Nicky got the idea to create candy made out of healthy ingredients, and with the help of his successful father, they have created Unreal Brands, Inc. from scratch that has already signed contracts with major retailers like Target.
In this case the father is quite wealthy, and has a lot of business know how- major advantages to new businesses that usually lack funding and business development expertise. I admire wealthy people who use their wealth to create jobs, or become more active in charitable organizations that they invest heavily in. It makes little sense to accumulate large fortunes and wait to pass that on after death, which for many will not occur for decades.
Children have a wide range of interests but in American suburbia though it seems as if much of the energy is focused on childhood sports programs and to a lessor extent the arts- but not all children and young adults are interested in music and sports. Children who have natural business acumen have fewer places to explore their interests besides lemonade stands and lawn mowing. I find articles like this really cool; parents working together with their children on a common and creative business venture. Not only is this a great relationship builder, but transfers skills from the parent in a productive learning environment.
Starting new businesses is key to reviving the economy, and this is one great way to go about it.