As part of an all-class project, Class 4 at St Martin’s CofE School in Fangfoss, recently took part in an enterprise initiative from Virgin Money called Make £5 Grow.
The bank loaned each child £5 for the project.
The 21 children in the Year 5/6 class then got into nine teams and came up with money-making ideas.
One group baked buns, biscuits and flapjacks while another group sold bird feeders and bird tables made from recycled pallets.
Yet another young entrepreneur – who traded under the name of Fangfoss Rocks – sold painted stones.
For five weeks, the teams sold their products weekly after school and one lucky team was invited into the York Virgin Bank branch to sell a selection of the class’s wares.
At the end of the five weeks, the loans were paid back to Virgin Money and the class had made an amazing profit of £841.15.
During the project the pupils learnt about enterprise and the importance of team work. They generated their own ideas and learnt about market research.
Class teacher Theresa Brindley said: “This is always a worthwhile project.
“The children get so much out of it and I’m always amazed at the products they produce.”
The children were delighted with how well they did and Year 6 pupil Edie said: “It was a great sales experience.
“We got a lot of good advice from the bank and learnt a lot about running a business.”
Head teacher Paul Edwards said: “The pupils have done remarkably well and I’m very proud of them.
“The scheme with Virgin Money is a great way to enrich our curriculum and the pupils have developed some valuable skills for later life.
“The money will be spent on a class trip and will probably stretch to an ice cream each too!”