June 2015 – Fiver Challenge

Fiver Challenge

Last week was no ordinary week, you may have noticed your child talking about a car washing or classroom cleaning service at school or they may have bundled home or pleaded you for some money to buy key rings or smoothies or even come home sporting a tattoo! This was all planned! As you may already know it was part of Lilac’s latest project: The Young Enterprise “Fiver Challenge.” For the last month the children have been learning and developing an understanding of business and finance with Mrs Harris. Throughout the experience they have been challenged and busy researching, fact finding through market research and resourcing. It wasn’t easy and was a steep learning curve with many benefits for the children: determination, resilience and team work. Here is what they said: “Wow I didn’t know how hard it would be to make and create business”. “You have to shout loudly to be heard in business”. “Making money isn’t as easy as I thought!”

Having repaid Young Enterprise the start-up fee plus 50p, the children’s businesses made a total profit of £247.94. We are still working out the exact amounts for spending this but the children are donating a share to Opera Brava, a proportion to charity and the rest will be spent together as a class. Thank you all for your patience, support and efforts with the challenge.

If you would like any more information about the fiver challenge please click here