Wisconsin Manufacturers and Commerce: New group will promote business, economic and financial literacy

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Nick Novak, 608.258.3400

MADISON – On Wednesday, a group of Wisconsin education and business leaders have banded together and announced the launch of a new coalition designed to promote business, economic and financial education and literacy in order to maximize their collective reach and impact among young people in the state.

The Wisconsin Coalition for Business, Economic and Financial Literacy was created after a recent meeting hosted by WMC Foundation. Members of the Coalition will advocate for business and entrepreneurial education, as well as communicate the differences between economic systems. It will also promote personal financial literacy and responsibility in Wisconsin, with an emphasis on young people.

“Regardless of what career choice a young person makes, they need to understand the basics of how the free enterprise system functions,” said Wade Goodsell, Executive Director of WMC Foundation. “They also need to understand their personal finances. All of the outstanding groups in this coalition pledge to work together to promote business, economic and financial education through cross promotion and cooperation.”

“Financial success doesn’t mean having the most. It means having the economic knowledge and financial skills to pursue one’s dreams, create a life that is unique and meaningful, and to avoid the socioeconomic hurdles that wreak havoc on families and individuals. The coalition is perfectly positioned to impact these outcomes more than any one organization could accomplish on its own,” said Michael Frohna, President of Junior Achievement of Wisconsin.

“Wisconsin youth are taught reading, writing and arithmetic, yet often graduate without two essential building blocks for prosperity: a basic understanding of personal finance and economics,” said Francis X. Vogel, Executive Director of EconomicsWisconsin. “Using Wisconsin’s new financial literacy law as a starting point, our newly-formed coalition will join with others to provide educators the resources necessary to make our kids money-smart.”

Groups participating in the Coalition include Advancement Via Individual Determination (AVID), Wisconsin DECA, EconomicsWisconsin (EW), Wisconsin Future Business Leaders of America-Phi Beta Lambda (FBLA-PBL), Junior Achievement of Wisconsin, the Wisconsin Bankers Association (WBA), Wisconsin Educators of Business & Information Technology (WeBIT), Wisconsin Marketing Educators Association (WMEA), and WMC Foundation.

Advancement Via Individual Determination (AVID) enlists K-16 educators to drive student success through engaging, rigorous and student-centered learning environment, serving nearly 6,500 schools nationally. In Wisconsin, AVID serves 23 districts with approximately 59 sites in the state.

Wisconsin DECA prepares emerging leaders and entrepreneurs for career in marketing, finance, hospitality and management in high schools and colleges.

EconomicsWisconsin (EW) adds to Wisconsin’s prosperity by promoting economics education and financial literacy statewide.
Wisconsin FBLA is an affiliate of Future Business Leaders of America-Phi Beta Lambda, Inc. (FBLA-PBL) and is recognized as the largest career student business organization in the world. Each year, FBLA-PBL helps over 230,000 members prepare for careers in business.

Junior Achievement of Wisconsin offers volunteer-delivered K-12 programs that fosters work-readiness, entrepreneurship and financial literacy skills.

Wisconsin Bankers Association’s (WBA) Bankers Promoting Financial Literacy provides bankers with resources to teach personal finances in communities throughout Wisconsin.

Wisconsin Educators of Business & Information Technology (WeBIT) promotes lifelong learning and supports educators in the advancement of business and information technology education.
Wisconsin Marketing Education Association (WMEA) fosters the professional development of secondary and post-secondary marketing educators.

WMC Foundation is an affiliate of Wisconsin Manufacturers & Commerce (WMC) and operates Wisconsin Business World, a program aimed at teaching high school students about business, entrepreneurism and free enterprise via three summer camps and multiple one-day sessions during the school year.