Over four weeks children will use a £5 pledge to get their business ideas off the ground.
A highly interactive and fun programme, for children aged 5-11, introducing enterprise and financial education and enhancing key skills, including creativity, problem solving, teamwork and confidence. This year's challenge will run from the 3rd-28th June 2024.
The Four Week Challenge Plan
The four weeks of the challenge are outlined below:
1 - Here's a Fiver!
Children 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 for week three, and plan selling events.
3 - Keep it going
In the third week of the Challenge children will get their product or service ready, prepare for their selling event and enter the sales pitch competition.
4 - Payback and keep the profits
At the end of the Challenge children repay their £5 pledges plus a 50p legacy contribution and decide how to spend or donate their profit.
Introduce the Fiver Challenge and explore entrepreneurship using the Introduction to Fiver PowerPoint.
Weekly Competitions
At the end of weeks one and three, children will have the opportunity to enter two challenge competitions:
Week 1 - Logo Design
We'll be looking for logos that can create impact and communicate to customers about the product or service.
Week 3 - Sales Pitch
Imagine they only have 60 seconds to tell us their product or service, what would they say?
Entering a Competition
All competitions will be open once the challenge begins, and entries can be uploaded whenever they are ready. You can check the competition deadlines on the Key Dates page.
Each entry can be submitted in various file formats – full details, upload instructions and judging criteria will be available once you register to the challenge.
National Competition
The National Fiver Challenge Competition runs at the end of the four week programme.
There are four award categories:
- Best in Sustainability
- Fiver for Good
- Best Overall Business
- Most Inspiring Individual
- Best Business in Wales
Each category is divided in two awards: either by the age groups of 5-8 years and 9-11 years or a winner and runner up.
The judges will look for evidence of innovation, creativity and problem solving within all the awards alongside stories of teamwork and personal development.
Check out the 2023 Fiver Challenge Showcase for inspiration
Watch the introductory masterclass to prepare for the Fiver Challenge 2024
Find out more about Fiver in our brochure.
Please check the Terms and Conditions for guidance on products and services which can be traded under Young Enterprise's insurance. Organisations must ensure that they have the appropriate insurance in place for products and services not covered by YE's insurance policy.
Looking for something that you and your children can do before the Challenge starts?
Why not check out Fiver DIY which is now available all year round. These resources provide an easy way for children to take their first step into enterprise and financial education and prepare them for the Fiver Challenge launching in June.