Young entrepreneurs set to work on businesses
Sir Richard Branson’s Virgin Money has lent Year 5 students at Bede Academy Primary, in Blyth, £5 with which to launch their own mini enterprises.
They will have the next three months to come up with money-making ideas, organise a product or service and make a profit before paying back the interest-free loan to Virgin Money
The scheme, run from Virgin Money’s Gosforth office, has so far touched the lives of more than 10,000 students who have returned profits ranging from £20 to £1,600.
“Sir Richard Branson started when he was young with very little and now has a company that operates a bank, airline, trains service, music industry and is even exploring space travel,” said Virgin Money team leader Angela O’Shea.
“Make a Fiver Grow seeks to ignite little brains so they become the next generation of entrepreneurs.”
“It is a great opportunity for our students, particularly in the run up to Christmas. They can choose anything they like but must allocate the money wisely so they return a profit and can pay Virgin Money back.
“It is a brilliant idea as they will have to work as a team and allocate different roles to each member. They will have to produce something of a quality that people will be willing to buy, which will be challenging. I can’t wait to see what they come up with.”