Grow Your Free Fiver
Registrations for Young Enterprise’s national Fiver Challenge are now open.
The Fiver Challenge – http://www.fiverchallenge.org.uk/ – is aimed at primary pupils aged five to 11-years-old, and runs from Monday 15th May until Friday 9th June 2017.
The Challenge provides a fun and highly interactive way of introducing financial numeracy, resilience and teamwork in primary education.
Pupils have one month to set up a mini business and create a product or service they can then sell or deliver at a profit and engage with their local communities.
Each business is pledged £5 from the Fiver Bank. There is a maximum payment of £250 per school/organisation. Please be aware funds are limited and will be allocated on a ‘first come, first served’ basis.
They use this start-up capital to get their enterprise off the ground, working as a group or on their own.
They have the whole month to make as much profit as they can from their fiver whilst also aiming to engage with the local community. You’ll have access to online resources which explain the challenge and includes activities for curriculum support, case studies and more. Pupils have a downloadable workbook to help them keep track of their progress, as well as a logbook which they can use to enter the national competition.
At the end of the month, the teams work out their finances and repay their pledge. This means that the £5 pledge is repaid + a suggested 50p legacy donation to the Fiver Bank so more young people can participate in the future.
The participants are in full control of the profits they have earned and should decide themselves what they would like to spend them on – for example, donate their money to a charity or local cause, activities for school or the classroom, or a school trip or day out.
Throughout June there will be weekly competitions to keep young people excited, engaged and motivated.
To find out more about the Fiver Challenge head over to their site (http://www.fiverchallenge.org.uk/about-fiver)