Welsh primary school children put their entrepreneurial flair to the test during lockdown by entering an enterprise competition organised by the UK’s leading enterprise charity and Wales’ largest building society.
The Fiver from Home scheme, run by Young Enterprise and funded in Wales by Principality Building Society, ran from June to September and saw over 7,500 pupils from across Wales take part. The initiative included a competition element with three final winners now announced.
Fiver from Home asked students aged 5-11 years to create, research and plan a business with just £5. As the sponsor of Fiver from Home in Wales for the next three years, Principality provided funding allowing Young Enterprise to bring the challenge to Wales on a larger scale and for the first time in the Welsh language.
Created in response to the coronavirus pandemic, Fiver from Home this year replaced the Fiver Challenge which usually runs in the classroom. The new initiative enabled young people to develop their creativity, commercial awareness and money management skills while at home during lockdown and throughout the summer holidays.
The winners came from across Wales, with Millie Dyson, 11, from Blaenau Gwent awarded the Best Sales Pitch; while Jessica Jones, 11, from Wrexham picked up the Best Logo award. Indigo Bevan, seven, from Bridgend was awarded Best Project, the accolade for the best overall business idea, judged on all her entrepreneurial skills from idea creation, research, marketing and business planning.
Each winner received an iPad and WRU shirts donated by Principality Building Society.
Julie-Ann Haines, CEO, Principality Building Society said: “As a mutual society, we are passionate about helping young people to build their life skills, which includes supporting hard working schools with financial education and careers-based activities. We were blown away by the entries from across Wales this year, it demonstrated the desire from young people to challenge themselves and engage in entrepreneurship from home.”
Over the past 18 months, Wales’ largest building society has been working with partners such as Young Money and Young Enterprise to reach over 21,000 students with financial education and careers-based activities. The challenge is set to continue next year.
Russell Winnard, Director of Programmes and Services, Young Enterprise said: “The achievements of young people through the Fiver Challenge always amazes me, but to do so with the significant barriers faced due to COVID is resilience, innovation and creativity in action. Due to the fantastic support of Principality Building Society more primary aged young people in Wales participated in the Fiver Challenge than ever before, developing crucial skills to help them learn to earn and manage their money.”
To find out more, visit www.principality.co.uk/fiverchallenge