Registrations have now closed for Fiver 2016 - we will be back in June 2017 and look forward to welcoming you to sign up for the Challenge.
Welcome to the Fiver Challenge, Young Enterprise’s FREE nationwide challenge for 5 - 11 year olds.
The Fiver Challenge, supported by Virgin Money, provides a highly interactive, fun way of introducing financial literacy, resilience and teamwork in learning for primary school pupils. Pupils have 1 month to set up a mini business and create a product or service they can then sell or deliver at a profit and engage with their local community.
For full terms and conditions please click here.
What are the key dates for Fiver?
- 21 March 2016
- 6 May 2016
Early Bird registration deadline
- 20 May - 3 June 2016
- 10 June 2016
- 6 June - 1 July 2016
Fiver Challenge takes place
- 10, 17, 24 June & 1 July
- 6 July 2016
National Competition entry deadline
Winners invited to awards
We have designed the programme to support primary teachers in leading and facilitating this challenge and have ready to deliver, practical opportunities to introduce students to key employability skills from business planning to marketing and selling!
Step 1 - Here's a fiver!
Each participant registered is pledged £5 from the Fiver Bank on 6 June 2016. (Please note registrations are still open on a self fund basis only due to high demand).
Step 2 - Get it going
They use this start-up capital to get their enterprise off the ground, working alone or in a group.
Step 3 - Keep it going
They have the whole month to make as much profit as they can from their fiver whilst also aiming to engage with the local community.
You’ll have access to online resources which explain the challenge and how you can run it with your pupils, including activities for curriculum support, case studies and more.
Pupils have a downloadable workbook to help them keep track of their progress, as well as a logbook which they can use to enter the national competition.
Step 4 - Payback...for the future
At the end of the month, each team works out their finances and repays their pledge. This means that the £5 pledge is repaid + a suggested 50p legacy donation to the Fiver Bank so more young people can participate next year in the Challenge.
Step 5 - Keep the profit
The participants are in full control of the profits they have earned and should decide themselves what they would like to spend them on - for example, a school trip or day out, resources or activities for school or the classroom, or they may wish to donate their money to a charity of their choice.
The only rules are: you cannot use your fiver to gamble, take part in illegal activities, be fraudulent and importantly, if the teacher says NO, so do we!
For more information please read our full Terms & Conditions
Why should we sign up?
Fiver is a great way to help your students develop key skills such as team work, problem solving and creativity. You can find out more about the benefits of Fiver on the Why sign up page.
Kick start your Fiver Challenge
We'll come to your school to run a half day masterclass for your students to introduce the Challenge, help them come up with a great idea for their business, explain the weekly competitions and develop their key employability skills. To find out more email email@example.com. There is a cost for this masterclass.
Fiver Challenge National Competition
The Fiver Challenge is not only about creating a business but it is also about making a positive difference to young people, in schools and local communities. What better way to showcase this than with a competition?
Throughout June/July 2016 there will be weekly competitions to keep young people excited, engaged and motivated. These are simple to enter and aim to showcase all the hard work that teams are doing.
The weekly competitions are linked to different stages of the business set-up and only require an upload of image or video clip.
10 June – Logo Design
17 June – Sales Pitch
24 June - Advertisement
1 July – Trade Stand
For this reason, it is essential we are given permission to use images of students on our website. If we do not have this permission, participants will not be able to enter the competitions.
The final competition will be based on the completed student logbooks. Whilst we hope that all participants will enter the competition, only three logbooks per school can be entered to the national final. Teachers are asked to shortlist from all their teams and submit the best three log books for national entry. All pledges must be repaid to be able to enter the competition.
Judges from the business world will look at the student logbooks and choose the winners according to criteria; including levels of enterprise and entrepreneurship demonstrated, the journey travelled and community engagement.
There will be an Awards Ceremony in September 2016 for all winning participants and teachers. Winners will be notified in July 2016 so that travel and permissions can be arranged.
There are two age categories for the competition:
- 5–8 years
- 9-11 years
With 6 awards:
- Most inspiring individual 9-11 years
- Best overall group 5-8 years
- Best overall group 9-11 years
- Most profitable business idea 5-8 years
- Most profitable business idea 9-11 years
- Best community engagement 9-11 years
For more information please read our full terms and conditions.
What happens now?
- Organisations register on this site to participate in the Challenge
- ‘Welcome’ email sent to registered organisation
- Organisation returns payment form
- ‘Important details’ email sent to organisation to confirm registration and login details for unique web account
- Organisations login to their unique web account, register their teams and access the resources
- Young Enterprise will issue the funds to the organisation from the Fiver Bank prior to 6 June 2016
- An email notification will be sent to the organisation to confirm payment has been made
History of Fiver
The nationwide challenge for 5-11 year olds was launched in 2014 by Young Enterprise and supported by Virgin Money.
The programme, which is also supported by the Department of Business, Innovation & Skills, is drawn from Young Enterprise's Tenner Challenge and also builds upon the success of Virgin Money's 'Make £5 Grow' scheme.
Working in partnership with business, our ambition is for the Fiver Challenge to become a catalyst for change, supporting Lord Young’s movement to ignite a spirit and culture of enterprise in primary schools across the UK. We want to enable young people from every community and background to experience, understand and engage with the challenging, fun and exciting world of enterprise.
In June 2015 we ran our second Challenge with almost 50,000 young people registering to take part. 94% of teachers said that pupils had developed at least one employability skill; 100% of teachers indicated that their pupils enjoyed taking part and 98% of teachers said that Fiver was a good way to introduce enterprise education to their pupils! To find out more about the impact of the Fiver Challenge please see our Research and Evaluation page.
Young Enterprise is the UK’s leading charity that empowers young people to harness their personal and business skills, delivering a range of accessible and hands on programmes to 4–25 year olds, from one day masterclasses to year long projects. Each year we deliver 4 million learning hours, empowering young people to develop the knowledge and skills they need to succeed in work and in life.