Youngsters make their money grow

11-year-old Oliver with his bands.
11-year-old Oliver with his bands.

Youngsters have had a taste of starting their own business during a school project, which helped them develop their enterprise skills.

St Martin’s Primary School in Fangfoss took part in the Virgin Money ‘Make £5 Grow’ scheme. The idea is to give schoolchildren, aged 9-11, a real life experience of starting a mini business.

St Martin's Primary pupils who took part in the business project.

St Martin's Primary pupils who took part in the business project.

Class 4, which is made up of year 4 and 5 pupils, embarked on the 12-week project, and the children came up with their own business ideas and plans. They set up their own companies and started selling.

There were a range of enterprises, from books, cakes, keyrings to shoe shinning and jewellery.

Each child was given a £5 loan from Virgin Money that they then had to ‘grow’.

The children can choose what they spend their total money on, once the loan is paid back, and it is of benefit to the school.

Class 4 decided they would like a class trip. From their 12 weeks of selling, they raised £918.

Theresa Brindley, a class teacher at the school, said: “It’s great fun, they learn lots, and it helps them build skills for the future. What’s more it gets them thinking like entrepreneurs.

“The children have all felt this was a positive experience.”