Year 6 were extremely excited to take part in ‘The Fiver Challenge’. They joined over 45,000 children in 686 schools across England which gave each pupil a small insight into the world of business. Children were given £5 with the aim to set up mini-businesses with friends to engage with their school community and make a profit.
A Summary of the Project
Written by two of our fantastic entrepreneurs: Ayesha C & Rayyanah K
Wednesday was the day it all started, when we all went into Mrs Leonard’s classroom. The teachers started talking to us about real life business. Then we were introduced to enterprise. We all got split up into groups and started throwing ideas around the table. We made a presentation and did a lot of marketing research on different websites. This presentation determined whether or not we would be able to get the £5 loan. The dragons (Miss Nicola and Miss Noel) gave us a lot of feedback on our products. Then came the selling day! At the start of the day, the room was buzzing and everyone was really busy trying to make their products attractive and stand out. The day was really successful and altogether we made a whopping total of £417 which gave us a profit of £127. Each child in Year 6 received £2 to spend at our end of year trip to Blackpool. Year 6 would like to say a big thank you to the dragons and all the teachers that helped us during enterprise. Definitely something to cherish in high school!
How has this project helped us?
It helps us in reality and it will benefit us in later life. Because we had a minimum amount of money we had to get the best value for the best amount of money.
A huge WELL DONE to everyone involved in the Fiver Challenge. We are looking forward to seeing your entrepreneurial skills using utilised in your future careers.
Have a go at the following questions.
What did you enjoy the most about the ‘Fiver Challenge’?
What was the most challenging area and how did you overcome it?
What advice can you give to future entrepreneurs?
- e FIWj