Pupils take up grow £5 bank challenge

Budding young entrepreneurs from The Grammar School at Leeds took part in Virgin Money’s Make £5 Grow programme and used their creative thinking to make a £2,550 profit for charity.

Friday, 23rd July 2021, 3:35 pm

Budding young entrepreneurs from The Grammar School at Leeds took part in Virgin Money’s Make £5 Grow programme and used their creative thinking to make a £2,550 profit for charity.

The scheme gives young people the experience of starting a small business with help from Virgin Money.

The Bank offers schools a loan of £5 per child, who then have access to a Virgin Money Business Ambassador offering business support.

Pupils can also tap into a suite of curriculum-based classroom tools which encourages the young entrepreneurs to make the most of their business idea. The schools get to keep any profit made after repaying the initial £5 loan.

The Year Six pupils came up with a range of ideas, from making their own scented candles and packaging plants, to producing treats like donuts and sweet kebabs.

Each group was responsible for producing their own business and marketing plan and the production and sale of their unique item.

The pupils made and sold sweet treats and crafts and donated some of these to Cancer Research and four local charities; Candle Lighters, Hope Pastures, Yorkshire Wildlife Trust and Yorkshire Air Ambulance.

Emily Wright, Year Six teacher at Grammar School at Leeds said: “The Virgin Money ‘Make £5 Grow’ scheme has been a fantastic way for us to come back together as a class and finish the academic year on a positive note.

“It has been wonderful to watch how enthusiastic the children can be when challenged within a real-life context.

“The progress in their enterprising skills has been phenomenal and I am certain we have some future entrepreneurs among us.

“The students have risen to the challenge and have demonstrated excellent resilience and determination when tackling problems that arose along the way and the Year 6 teachers are all very proud of their achievements.”

Leanne Watson, Community Projects Manager at Virgin Money said: “It is wonderful to hear that the children had such an enjoyable time.

“It helps to develop teamwork and a number of other important life skills.”