Young Enterprise, in partnership with the UK government and Virgin Money, has launched a challenge to give primary school pupils the opportunity to start and grow a mini business.
Called the Fiver Challenge, the programme will provide schools with a loan of £5 for every pupil taking part. The young people will create products or services to sell at a profit – which they are allowed to keep. They return the original loan to the Fiver Bank, with a voluntary additional donation which will be used to fund next year’s contest.
Participants will have the opportunity to enter a national competition in June 2014 and there will be a national award ceremony in September 2014 with winners in various enterprising categories.
The first-year plan is to engage 20,000 children in up to 500 primary schools across the UK, increasing to 30,000 young people in 2015 and 40,000 in 2016.
Schools interested in taking part in the Fiver Challenge should register their interest at firstname.lastname@example.org