Children from primary schools across the country have made over £250,000 profit by developing financial, business and creativity skills as part of Virgin Money’s enterprise programme – Make £5 Grow. All profits are kept by the school, either investing back into the children, school equipment or donating to a local good cause.
The programme offers schools a loan of £5 per child, support from Virgin Money and a suite of curriculum based classroom tools. The programme encourages the teams to use the money to set up mini-businesses selling products or services. Through this the children learn all about the world of work, what it takes to be successful and gain important financial awareness. The schools get to keep any profit made after repaying the loan.
Since its launch in 2011 the Make £5 Grow programme has gone from strength to strength, with more than 95,000 young people taking part.
Children have created a range of business ideas from baking their own sweet treats, hand crafting environmentally friendly shopping bags to planting seeds in time for Mother’s Day, creating beautiful flower bouquets, literally making their £5 grow. Schools have sold their products in their local markets bringing new footfall to the markets, selling at iconic sites such as Chester Cathedral and Alnwick Gardens as well as creating markets events in their schools. One school decided to put on a show, sold tickets to friends and family, sold refreshment during the interval, recorded the performance and sold the DVD afterwards.
Carly Nichol, teacher at Richard Coates Primary School in Newcastle upon Tyne said:
The confidence pupils have shown during the whole scheme is amazing! The ideas they generate and the way they work in teams really develops their social interaction skills. They are genuinely excited and care about the whole experience. All of the online resources link well to the PSHE topics we need to cover in school. The plans are easy to follow and help to develop the pupils understanding of the skills required to become a successful entrepreneur.
Leanne Watson, Community Projects Manager at Virgin Money added:
Since Make £5 Grow was launched in 2011 it has gone from strength to strength. The feedback we have received from schools, children and parents has been phenomenal. We hope that even more schools will look to take part in this innovative and fun programme which allows children to be creative, learn about business whilst retaining an element of fun.