St Nicholas School Virgin Fiver Challenge

Pupils at St Nicholas Primary School got to experience what it was like to set up and run their own business as they took part in The Virgin Fiver Challenge.

The Virgin Fiver Challenge is an annual partnership between Virgin Money and Youth Enterprise to enable children to discover more about the processes of setting up and running a business.

For each participating child the Challenge grants £5 as a start up fund. They had exactly one month to convert their start up money into profit before the grant money must be returned. Any profit made can be used how the entrant wishes.

With the guidance of Teaching Assistant Simon Morton 12 eager entrepreneurs in year 6 at St Nicholas CP School came together to create the St Nicholas Singing Stars and with the help of two local businesses Recording4Fun and Cogshed, the pupils produced their very own limited edition CD.

After creating a detailed business plan, completing extensive market research, and writing their own press releases and marketing materials. The St Nicholas Singing Stars have raised £400 and will be split as follows:

£45 – Ebola Crisis Appeal
£45 – St Johns Ambulance
£110 – RSPCA
£180 – Cancer Research

HU17.net offered valuable advice to fringe business the Happy Snappers, while local business TASR Indoor Skate Park offered a much needed celebration at the end of a very successful month.

The experience has provided all of the year six pupils with a valuable insight into how to establish and run a business, as well as exploring issues of money management.