Jo Barnett, Head of Social Enterprise at Virgin Money, which supports the Fiver Challenge said: “It’s great to see the creative business ideas pupils have come up with on this year’s Fiver Challenge, and seeing how much they have learned on the scheme.”
Michael Mercieca, CEO of Young Enterprise, said: “The Fiver Challenge is a great way for pupils to start developing important financial capability skills, as well as introducing them to the world of business in a fun, interactive way.
“‘All of the teams have done extremely well, and I look forward to seeing these budding entrepreneurs in the future.”
The Fiver Challenge is run by Young Enterprise for primary schools across the UK, and is supported by the Department for Business, Innovation and Skills as well as Virgin Money. Pupils are pledged £5, and have the month of June to set up mini-businesses and make a profit. The children can work alone or in teams, and they are free to keep the profits or donate to a charity of their choice.
This year, 32,000 pupils from nearly 500 schools participated in the Fiver Challenge. 94 per cent of teachers indicated that pupils developed at least one key employability skill, with teamwork, creative thinking, problem solving and communication reported as being the most developed skills.
The top three reasons teachers opted to take part in Fiver were for the practical learning experience, the opportunity to introduce enterprise learning and behaviours, and the chance to engage with the local community.
Winners:
5-8 Years: Best Group
Sprinkles and Crystals
Temple Meadow Primary School, Black Country
Sprinkles and Crystals sold healthy snacks and products, such as fruit kebabs, ice creams and lollies with an assortment of fruits and berries. It was a healthy and refreshing snack to sell on Sports Day, in the scorching hot sun. They created posters and displayed them around school. They then decorated their gazebo with inflatable ice creams and fruit bunting, advertising what they would be selling. Sprinkles and Crystals decided to spend their £62 profit on buying new cooking equipment to promote healthy cooking and eating.
5-8 years: Most Profitable Business Idea
Best Beads
Polish School Glasgow, Scotland
The girls made decorations from hama beads and created them for gifts. They sold them to friends, family, teachers and others at school lunch times, break times and during Saturday school. They made £116.80 and decided to give the money to charity.
9-11 years: Best Group
Perfect Plays
Grasby All Saints CE Primary, Lincolnshire
Perfect Plays set up a play promotion company. Some of their activities included; advertising and promotion of the event; designing and selling tickets; design and production of the stage and scenery; making props; creating the programme; organising a raffle AND making and selling refreshments! They wanted an outdoor summer play at school and thought by offering to organise it one could go ahead. After persuading their teacher to direct Shakespearean play A Mid Summers Night’s Dream they created a project plan and engaged local businesses to help them pull off the event including, gardeners, builders and a promotional company offering free tickets for their services. Many people were worried that they wouldn’t understand the language so they wrote the script in modern day language and also created a Dummies Guide to help people understand the plot. Estuary TV even came to film it! The team made £240 and would like to buy a Bluetooth speaker for any future outdoor productions.
9-11 years: Best Community Engagement
The Flower Pot Men
The Meadows Montessori, Suffolk
The Flower Pot Men sold plants and vegetable seedlings. They chose vegetable plants to promote healthy eating for children who will often be happier to eat food that they have seen grow themselves. They sold their product to parents at school, the general public through a local bakery, at a farmers market and outside Bens house. Once they started making a profit they branched out by selling flowers. The boys made £260 and have donated this to their school who are currently creating a garden for quiet play and it will be used to buy a bench which you can sit on to look at the plants and the firebowl. There will be a plaque on the bench to remind everyone of their Young Enterprise experience.
9-11 years: Most Profitable Business Idea
Sweet Treats
St Nicolas’ CE Combined School, Buckinghamshire
Sweet Treats decided to sell cupcakes, cookies and other tasty treats at special events. As well as selling their own treats they put up a stall and allowed children to decorate their own cookie, with icing and decorations. When trading they created a song and shouted out special offers to encourage visitors to their stall. As well as selling at school they were able to secure a spot outside Sainsburys which brought them lots of trade especially in their fathers day cookies. They made £670 and used the profits to fund their KS2 production of The Lion King.
9-11 years: Most Inspiring Individual
Lovely Locks
The Roseland Community College, Cornwall
Lorna made hair accessories from recycled school uniform. The Roseland Community College has skirts and ties made from bespoke tartan. Lorna made hair scrunchies from skirts, hair bows from school ties and button hair clips from the offcuts of material left. Most items were donated from the leaving year 11s. Girls are not allowed to wear “fashionable” hair accessories in school however, once Lorna spoke to the Head Master he agreed to change the school uniform policy to include Lorna’s accessories. This now means that the girls can wear something in their hair that looks smart but fashionable. These were mostly donated from the leaving year 11s. Lorna made £40.50 and donated her profits to the Childrens Hospice South West and specifically Little Harbour which is a local childrens hospice in Cornwall.
