The National Curriculum for PSHE states that pupils should focus on economic well-being and be taught…
In class, the children will be researching people in our world who have been successful entrepreneurs. Hopefully, this will inspire our children to think about ways in which they can use the many gifts they have been given to lead successful and fulfilling lives.
Children have been introduced to the idea in class, and while the £5 will not be given until permission slips have been returned (which will be handed out during the first week back) children can use the half term holiday to start thinking of ideas.
About where money comes from, keeping it safe and the importance of managing it effectively.
How money plays an important part in people’s lives.
A basic understanding of enterprise.
In 2014 the Government introduced the Fiver Challenge which gave Primary school children a chance to start their own business with a £5 loan under a new scheme to encourage young entrepreneurs. The Fiver Challenge was set up for young people aged 5 – 11 years, across the UK and aimed to inspire creativity and develop enterprising attitudes and behaviours.
As you know, for the past few years, we have organised an annual Money Week when our children can participate in a range of age-related activities designed to help them to develop their financial skills and knowledge. It also gives them opportunities to explore their Smart Gifts and consider their personal aspirations and goals.
This year we would like to offer our Year 5 children a chance to take part in the OLSK £5 Challenge.
£5 from School Fund will be loaned to each child.
They will be encouraged to use it as creatively as they can in order to make a profit.
At the end of the Challenge the £5 must be returned to School Fund.
£70 from the class profit will be sent to the Birmingham Catholic Primary Partnership as part of our annual commitment to support their education projects in Rwanda.
Half of the remaining profit will go to School Fund.
The children will then be asked to decide how the other half is to be used.