five pound noteYesterday, the Prime Minister’s Office, 10 Downing Street and Department for Business, Innovation & Skills reported that primary school children will be given the chance to start their own business with a £5 loan under a new scheme to encourage young entrepreneurs.

The Fiver Challenge will give thousands of pupils aged up to 11 the chance to set up their own business and learn about the world of enterprise.

20,000 children from 500 primary schools across the UK are expected to take part this year by creating products or services to sell at a profit – which they are allowed to keep – and then return the original loan to the Fiver Bank. It is run by Young Enterprise in partnership with Virgin Money and the Department for Business, Innovation and Skills. The first round of the challenge will run in June 2014 with a national award ceremony in September for top entrepreneurs.

Those who are interested in taking part will need to register their interest at: fiverchallenge@y-e.org.uk

Is this an opportunity for accountants and lawyers to work with local schools to provide some tuition to school children?

There more on the scheme on the Young Enterprise website, here.

The scheme was announced on the same day Lord Young formally launched a review of enterprise activities in education at a visit to Lauriston Primary School in Hackney. The review will make recommendations on how to inspire more people with the entrepreneurial spirit needed to succeed in employment or enterprise. See press release here.

Martin Pollins

Martin Pollins

Managing Director at Bizezia
Martin Pollins is a Chartered Accountant with wide experience in corporate finance and business management. He holds a number of directorships and has served on the boards of several companies, including those listed on the London Stock Exchange, AIM and OFEX.

He was a Council member of the Institute of Chartered Accountants in England and Wales from 1988 to 1996.

Martin Pollins ran his own firm based in Sussex and was the first Accountancy firm in the UK to advertise on television and Martin went on to create and launch the CharterGroup Partnership (the UK's first Accountancy network) and then LawGroup UK (one of the largest networks of lawyers in the country).

Martin started work on the Bizezia concept in 1996, developing the broad range of information resources and products over the past 18 years.
Martin Pollins
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