How the Fiver Challenge works
In 2022, the Fiver challenge will run from 6th June to the 1st of July, as young people (aged 5-11) use their £5 pledges to get their business ideas off the ground during the four weeks of the challenge, aiming to make as much profit as they can. Here’s how…
Four Week Challenge Plan
1 - here's a fiver!
Pupils will work together to decide what product or service they’ll invest their fivers in
2 - getting started
Teams will need to source materials or products, prepare sales pitches, and plan selling events
3 - keep it going
In the third week of the Challenge pupils get their product or service ready and prepare for their selling event
4 - payback and keep the profits
At the end of the Challenge pupils repay their £5 pledges plus a 50p legacy contribution and decide how to spend or donate their profit
Fiver Weekly Competitions
At the end of weeks 1 & 2 and pupils will have the opportunity to enter two Challenge competitions:
1 - Logo Design
We'll be looking for logos that can create impact and communicate to customers about the product or service
2 - Sales Pitch
Imagine you only have 60 seconds to tell us your product or service, what would you say?
Entering a Competition
As soon as the Challenge starts, all competitions will be open, entries can be uploaded whenever they are ready – please note closing dates!
Each entry can be submitted in various file formats – full details, upload instructions and judging criteria will be available once you are registered for the Challenge.
National Fiver Competition
The National Fiver Challenge Competition runs at the end of the four week programme.
There are five different awards:
- Most Profitable Business Idea
- Best Group
- Fiver for Good - Team or Individual
- Most Inspiring Individual
- Best in Sustainability
What do the Judges look for:
Achievements throughout the Challenge, plus stories of team and personal development demonstrating resilience, confidence and communication skills etc.
For more information about the Challenge click here for brochure.
Why not check out Fiver DIY which are now available all year round. These resources provide an easy way for young people to take their first step into enterprise and financial education and prepare them for the Fiver Challenge launching in June.