Pupils from Oreston Community Academy who set up a business as part of the National Fiver Challenge, run by Young Enterprise have won the Best Group and the Fiver for Good award for their company Meditrails. Pupils in this group created a self-led activity trail around a Victorian pharmacy and medicinal garden in Plymouth.
Pupils were given £5 and four weeks to set up a business and make as much profit as they could. The winners, including Meditrails, were announced at the awards ceremony on the 2nd October, held at KidZania, Westfield Shopping Centre.
A teacher for a school in South West England said about the challenge: “[It is a] fantastic opportunity for children to learn about businesses. It incorporates maths, literacy and has a huge impact on team building & confidence.”
The Fiver Programme gives pupils an opportunity to develop key employability skills and develop a better understanding of the connection between what they learn in school and how they can apply that learning in the world of work. This year, over 38,000 budding entrepreneurs aged 5-11 years took part across the UK, and 93% of teachers agreed the Fiver Challenge provided pupils an opportunity to learn about managing money and how to work together as a team.
Pupils have a business idea and use this start-up capital to make it happen, using real money to take calculated risks to gain first-hand business experience of what it’s like to be an entrepreneur. At the end of the month participants are asked to return their £5 pledges with a 50p legacy donation to enable Young Enterprise to support even more people the following year. Pupils are free to keep their remaining profits, which many donate to a charity of their choice.
Michael Mercieca, Young Enterprise Chief Executive, said: “The Fiver programme is critical for driving entrepreneurship among young people. Every year, we hear new stories come about from all different walks of life.
“The challenge has a real impact on the young people’s employability skills and will help to encourage pupils to reach their full potential.”
Jodi Kelly, Business Development Manager for KidZania, said: “KidZania is proud to be supporting Young Enterprise and the inspiring Fiver Challenge. We believe that all children should have the opportunity to build resilience, confidence and creativity. With the shared mission of introducing children to the world of work and entrepreneurship, we are delighted to be hosting the National Fiver Challenge awards ceremony in October.”