Member Article

Principality and Young Enterprise launch biggest business competition for primary schools in England

More primary school children than ever before across England and Wales are being given the chance to take part in an entrepreneurial challenge that will introduce money management skills from an early age.

Principality Building Society and Young Enterprise have teamed up to deliver the Fiver Challenge initiative, which asks students aged 5-11 years to create, research and plan a business with just £5.

Since 2020, the Society has worked with partners such as Young Enterprise to reach over 18,000 children and young people with financial education and careers-based learnings.

This year marks the 3rd time Principality has sponsored and provided funding for the Fiver Challenge in Wales, but for the first time the Society is also funding the challenge in England, allowing even more children the opportunity to develop their creativity, commercial awareness and money management skills.

During the project, which starts in June, students will learn important skills for starting their own mini businesses, including designing a company logo, undertaking market research, and planning their product or service. They will then pitch their plan in a Dragon’s Den-style.

Students will also have the chance to win prizes by entering competitions for the best logo, sales pitch and overall project.

Vicky Wales, Chief Customer Officer at Principality said: “We’re delighted to have teamed up with Young Enterprise to bring the Fiver Challenge to children and young people in Wales for the third year in a row, and for the first time in England. We are passionate about helping young people to build their life skills, which includes supporting hard working schools across both Wales and England with financial education and careers-based activities.”

Teachers can sign up and access the resources for their school to take part on the Fiver Challenge website.

Lee Palmer, Director for Educational Partnerships at Young Enterprise said: “The Fiver Challenge continues to provide young people with a brilliant opportunity to develop transferable skills that will remain with them for life. We are thrilled to be partnering with Principality again this year to offer this programme to young people across both Wales and now England for its biggest year yet, helping to support the development of valuable life skills in a fun and engaging way.’’

To find out more, visit the Principality website.

This was posted in Bdaily's Members' News section by Lucie Hayes .