With even more schools and associations taking part, the Make £5 Grow programme keeps on growing! Now in its sixth year, over 60,000 young people in 800 schools have taken the £5 loan from Virgin Money and set about starting a mini business.
Make £5 Grow offers young people great insight into how business works. It helps build skills for the future, encourages team work and problem solving and provides opportunities for creativity at the same time as developing leadership and money management skills. It’s engaging and educational as well as being great fun. And what’s more, schools and clubs taking part get to keep any profits made.
We now have 323 Ambassadors in the Virgin Money family, who go into schools and organisations to help participants make the most of this exciting opportunity. One of our Ambassadors Rachel Glossop (Bolton Store Customer Assistant) said:
It was great to go into the school and help with the sessions. I got to see first-hand how much the pupils enjoy it. Markland Hill did Make £5 Grow a little differently and set it up as an afterschool club for a range of age groups, which worked really well.
It was amazing to see how quickly the pupils picked up the material, right from the first session. Everyone wanted to be the one in charge and the groups really invested in the ideas and worked together as a team.
It’s been great to see so many schools donate their profits to local charities, helping to make even more people better off. Our market days in Newcastle, Manchester, Chester and Northumberland were a great success once again in 2017. Market days see pupils from different schools come together to sell their products to the public. This year, over £4,000 profit was made which has been reinvested back into schools or donated to local charities.
The schools and clubs taking part in Make £5 Grow are always amazed at just how much the young people get involved and the skills and behaviours they demonstrate throughout the challenge. Many come back year after year, ready to set up a new business and make an even bigger profit.
Talking about the programme, teacher Tom Ginnever from West Jesmond Primary School in Newcastle said:
Every child has been filled with enthusiasm and excitement throughout the project. It has been great to involve them in a project that allows them such free reign over their decisions. They have felt as though they are taking part in a very grown up endeavour and it has allowed a very grown-up side to shine through for a number of individuals. They have benefited greatly from what they have learned about budgets, profits and team work. It has also tied in nicely with our English topic of persuasion, which has allowed them to write adverts and persuasive letters linked to their products.
For further information on how schools and local youth groups can take part in a Make £5 Grow programme pop in to a Virgin Money Lounge or Store or check out the Make £5 Grow site.