Financial education initiative for primary school children returns for its third year
The Fiver Challenge, run by Young Enterprise and supported by Virgin Money, launches today, 6th June, in schools across the UK.
Nearly 45,000 children in 688 schools have registered for the Challenge, which pledges each pupil with £5 for the month of June. They set up mini-businesses either alone or with friends to engage with their community and make a profit.
At the end of the month, pupils return their £5 pledges plus a 50p legacy donation, and are free to keep their profits.
They can also enter the national competition, with prizes available for the Best Group, Highest Profit and Most Inspiring Individual.
Previous years’ Highest Profit winners – a team of two – made £495.23 from their fivers.
Pupils taking part develop skills such as creativity, resilience and teamwork, in a fun and supportive environment.
Caroline Marsh, Culture & Social Enterprise Director of Virgin Money said: “Virgin Money is pleased to be working with Young Enterprise for the third year of the Fiver Challenge, which introduces young people to the fun and exciting world of enterprise. We are looking forward to finding out more about the businesses the young entrepreneurs taking part this year will set up.”
Michael Mercieca, Chief Executive of Young Enterprise said: “Fiver had hugely successful first and second years and we’re delighted to see the amount of interest there is this year.
“Fiver is structured to introduce young pupils to personal finance management in a fun and supportive environment, encouraging them to use their creativity and develop skills of resilience and teamwork along the way.”
Schools can still register to take part on the Fiver Challenge website until the 10th June.
About the Fiver Challenge and Young Enterprise
- The Fiver Challenge is run by Young Enterprise, the UK’s leading enterprise and financial education charity, and supported by Virgin Money
- The 2015 Challenge will run during June, and registrations are open at fiverchallenge.org.uk
- The programme is drawn from Young Enterprise’s Tenner Challenge (www.tenner.org.uk) and also builds upon the success of Virgin Money’s ‘Make £5 Grow’ scheme
- For more information please go to:- young-enterprise.org.uk or www.fiverchallenge.org.uk
About Virgin Money
- Virgin Money provides savings, mortgages, credit cards, current accounts, pensions, investment and protection products
- Virgin Money’s business ambition is to make “everyone better off” – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to our shareholders
- Virgin Money is the official sponsor of the London Marathon, the biggest annual one-day fundraising event in the world. Virgin Money has helped London Marathon runners raise over £¼ billion, including funds raised through Virgin Money Giving the not-for-profit online fundraising service, since 2010