YOUNG entrepreneurs from Morpeth are set to face the pressure of the boardroom in a regional competition.
Pupils at Chantry Middle School are competing against teams from 13 other schools in the Newcastle Building Society (NBS) Boardroom Challenge.
The nine and ten-year-olds have been challenged to come up with a business idea that will benefit the community while making a profit.
Eight schools will be chosen by an initial judging panel to go forward to the final, where they will present their schemes to a panel of business leaders in the boardroom of the NBS principal office in Newcastle.
The winning school will receive £500 towards setting up their business, while the others will receive runner-up awards. The project, which will form part of a six-week long learning package for numeracy and literacy, is the continuation of a financial education programme introduced by NBS last year to help children learn more about managing money.
Morpeth NBS Branch Manager Katie Johnston, who helped to launch the programme, said: “In our view it’s never too early to start to learn how best to save and look after your money and the financial education work we’ve already undertaken proved both very useful to and extremely popular with the children we met.
“We’ve developed this new competition to extend the concept even further and are extremely pleased that so many schools across the North East wanted to be part of it.
“Focusing the children’s ideas on providing benefits to their local community ties in closely with our ethos as a mutual organisation and will demonstrate that businesses can operate in a way which benefits society, as well as makes a profit.
“The children have already shown a great deal of enthusiasm for the task that they’ve been set and we hope they have a lot of fun in coming up with their business ideas.”
The challenge is being run in conjunction with the Newcastle Education Business Partnership.