Can we teach children enterprise in school?
Virgin Money is a UK-based banking and financial services company founded by Sir Richard Branson in March 1995. Their ‘Make £5 Grow’ scheme is a free enterprise programme that gives young people the experience of starting a small business through £5 loan from Virgin Money.
Video Credit: YouTube / Virgin Money
Making money grow
Virgin Money’s enterprise programme, Make £5 Grow, is now in its seventh year with over 900 primary schools signed up to the programme. The free programme gives pupils aged 9 to 11 the real-life experience of starting a small business. Through a loan of £5 per pupil, groups of pupils are tasked with pooling their money to design and develop a product or a service. Then, selling what they’ve made at an event that parents and other children are invited to, such as a Summer Fete.
By starting a small business, pupils learn a range of skills, sometimes without even realising it. The programme provides a real context for literacy and numeracy, builds speaking and listening skills and offers relevant presentation opportunities. It also develops teamwork and problem-solving skills, financial and risk awareness and an enterprising spirit, so it’s ideal for the PSHE part of the academic curriculum.
Over the years, Virgin Money has received lots of positive feedback from schools who have taken part in the Make £5 Grow programme. One such school was Highfield Middle School, Prudhoe, who have praised the schemes ability to fully engage a wide range of students, as well as its ability to generate unique ideas, turning the pupils into innovative entrepreneurs.
This story shows how Virgin Money supports Goal 4: Quality Education, specifically Target 4.6: “By 2030, ensure that all youth and a substantial proportion of adults, both men and women, achieve literacy and numeracy.”
About Virgin Money
Virgin Money is a UK-based banking and financial services company founded by Sir Richard Branson in March 1995.
Learn more about Virgin Money.