SIFE (Students In Free Enterprise) Team has again returned to Laredo as regional champions. The SIFE Regional competition, held in Dallas on April 4. Regional champions will now prepare for the SIFE National Competition set for May 6, 7, and 8.
SIFE is an international non-profit organization active on more than 1,400 university campuses in 48 countries. SIFE teams create economic opportunities in their communities by organizing outreach projects that focuses on: market economics, entrepreneurship, personal financial success skills, and business ethics.
During this academic year SIFE team organized 10 projects to improve the quality of life in the Laredo area, including a Vision to Reality (an entrepreneurship workshop), Business Links (a computer workshop in El Cenizo), Investing in the Stock Market and Excellent through Ethics for high school freshmen at LSD-TAMIU and Credit Score Workshop.
Vision to Reality: SIFE-TAMIU organized a two-day workshop focusing on female students between the ages 20 to 40. The goal of the workshop was to provide the students with an overview of entrepreneurship, and its importance in achieving individual success and building economically healthy communities. Results: Pre and Post-test analysis showed a 15 percent improvement in knowledge about how to run a business successfully.
Business Links: SIFE taught computer literacy to adults from disadvantaged areas. Results: 22 percent proficiency improvement on how to efficiently operate a desktop computer as compared to last year’s 8 percent.
Investing in Stock Market: Project Partners: TAMIU-LISD. This project consisted of four one and a half hour sessions. The classes were focused on basic stock market terminology, saving vs. investing in stock market, reading stock tables, and online trading. scored 100 percent marks on the final exam.
El Meson Restaurant is an established Mexican restaurant in downtown Laredo. The owner requested assistance for expanding his customer base and becoming a Historically Underutilized Business (HUB) vendor for the State of Texas to offer his catering services to state agencies. Results: new daily menus and marketing promotion.
Lack of financial education has a negative effect on an individual’s credit score. Our workshop included informing individuals about several financial options available to them and selecting the most appropriate one. SIFE worked closely with local families and assisted in improving their low credit score to a highly valuable credit score.
Dusty-Mart Survey: SIFE conducted a survey to inquire into the needs of the university community. Preliminary results of this research may be used to secure possible investors. Results: 96 percent of students support the idea of having an on-campus convenience store.
Dusty-Mart: Project Partners: Sam’s Club & Small Business Development Center (TAMIU). In search of a sustainable source of revenue, SIFE is planning to start an on-campus mini store by Fall 2007. The convenience store will offer school supplies, microwavable and canned foods, and snacks. It will operate in the evening hours.
School Supplies Vending Machines: SIFE is planning to implement a creative idea that will raise funds for our organization. School Supplies Vending Machines will provide a convenient resource to the general students by acquiring three machines and stocking them with the most requested items. Our corporate sponsor, Sam’s Club will support our cause by donating the start-up supplies to stock the vending machines for the first six weeks of operation.
Biz Camp: This project aims to teach middle school students the fundamentals of running a business through lectures and hands-on activities. Using the Junior Achievement Company curriculum as reference, these students will learn to work together over a four week period and learn important skills such as teamwork, organization, and budgeting.
Help us make it to SIFE WorldCup!