Entrepreneurial Maths Task

Overview

In this 40-minute session, 8th-grade students will embody mathematicians and entrepreneurs by creating their own small businesses. They will apply proportional reasoning and financial literacy concepts included in the British Columbia Mathematics Curriculum to calculate costs, profits, and material needs through realistic budgeting and measurement tasks.

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Curriculum Connections

British Columbia Mathematics Curriculum (Grade 8):

• Strand: Financial Literacy

  • Content Focus: Calculate costs, revenue, profit, and understand budgeting and financial decision-making.
  • Curricular Competency: Use proportional reasoning and mental math strategies to solve real-world problems involving rates, ratios, and percentages.

• Strand: Number Sense and Numeration

  • Content Focus: Apply operations with whole numbers and decimals in real-world contexts.

• Strand: Measurement

  • Content Focus: Use appropriate units for measurement and apply formulas for area and volume relevant to real-world contexts.

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Learning Objectives (I can statements)

• I can create a realistic budget for a small business by calculating costs for materials and labour.
• I can use proportional reasoning to determine quantities and prices.
• I can calculate profit by subtracting total cost from revenue.
• I can apply measurement concepts to estimate material needs accurately.
• I can analyse and evaluate my financial decisions to improve my enterprise.

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Success Criteria

• Budget includes all essential items (materials, labour, overhead) with correct calculations.
• Quantities and prices are calculated using proportional reasoning with accuracy.
• Profit calculations are correct and justified.
• Measurement requirements for products are logically deduced and calculated.
• Reflects on business decisions and identifies at least one improvement.

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Materials Needed

• Business Design Worksheet (structured template with sections for planning, budgeting, and profit calculation)
• Calculators
• Graph paper and rulers
• Sample price lists and unit costs (for materials and labour)
• Dyslexia-friendly font printouts and coloured overlays (optional)
• Whiteboard and markers

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Lesson Breakdown

1. Introduction (5 minutes)

• Briefly introduce the session: students will become entrepreneurs and mathematicians by designing a small business.
• Connect to real life by discussing how businesses must budget, measure resources, and calculate profits.
• Share "I can" statements and success criteria on the board clearly.
• Use dyslexia-friendly fonts on slides/board and provide handouts with coloured backgrounds to ease reading.

2. Mini-Lesson: Proportional Reasoning & Budgeting (7 minutes)

• Model an example: designing a lemonade stand. Show calculations of costs, volume needed, and price per cup using proportional reasoning.
• Discuss key vocabulary (budget, cost, profit, revenue, proportional reasoning).
• Highlight how measurement is crucial for planning (e.g. litres of lemonade, number of cups).
• Use visual aids and concrete examples (use coloured markers on the board).

3. Individual Business Design Activity (20 minutes)

• Students independently create their own small business using the Business Design Worksheet:
  • Choose a product or service (e.g., handcrafted jewellery, baked goods).
  • List materials with unit prices and required quantity (apply measurements).
  • Calculate total costs (materials + labour).
  • Set selling price and calculate profit per item sold.
  • Use proportional reasoning to scale production and budget.
• Encourage use of calculators and rulers for measurement calculations.
• Dyslexia support: Provide dyslexia-friendly templates and read instructions aloud if needed.
• Circulate to support students needing help, especially with proportional reasoning and calculations.

4. Sharing and Reflection (5 minutes)

• Ask several volunteers to briefly present their business plan, focusing on key numbers (cost, profit, materials).
• Encourage group reflection on which business seems most viable based on maths.
• Prompt them to consider possible improvements.

5. Wrap-Up and Extension (3 minutes)

• Recap the key maths concepts used.
• Advanced learners extension: Challenge them to incorporate tax calculations or loan interests into their budgets, or explore break-even analysis.
• Provide optional extension worksheets with these additional concepts.

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Differentiation Strategies

• For Diverse Learners:
  • Provide structured worksheets with step-by-step guides.
  • Allow use of calculators and graph paper to visualise proportional relationships.
  • Provide vocabulary lists and visual aids.
  • Allow verbal explanations instead of written when necessary.
• For Students With Dyslexia:
  • Use dyslexia-friendly fonts (e.g., OpenDyslexic) on handouts.
  • Provide coloured paper overlays to reduce visual stress.
  • Break down instructions into manageable chunks.
  • Allow additional time for calculations if needed.
• For Advanced Learners:
  • Introduce compound interest, tax, or break-even point concepts.
  • Challenge them to create multi-tiered pricing structures or promotional discounts applying proportional reasoning.

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Assessment

• Formative: Observe students’ ability to construct budgets and apply proportional reasoning during activity. Check worksheets for calculation accuracy.
• Summative (optional homework): Have students write a brief report reflecting on their business success and how maths helped them make decisions, including any challenges faced.

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This lesson integrates mathematical skills with real-world application, financial literacy, creativity, and critical reflection – precisely aligned with British Columbia’s curricular competencies for 8th grade. It aims to engage students in meaningful, hands-on learning that builds confidence and problem-solving skills.