Children aiming to make their cash grow

A group of All Saints First School pupils with Sharon Murray, left front, Alison Craggs, right front, Stephen Lee, back left, and Sarah Ricalton (she works for Virgin Money and is a parent of a pupil at the school), back right.
A group of All Saints First School pupils with Sharon Murray, left front, Alison Craggs, right front, Stephen Lee, back left, and Sarah Ricalton (she works for Virgin Money and is a parent of a pupil at the school), back right.

Groups of pupils are learning some useful skills after a Morpeth school signed up for an initiative that encourages children to make the most of their money.

The aim of Virgin Money’s Make £5 Grow is to inspire future entrepreneurs and it involves developing mini-businesses.

The bank provides lesson plans and a loan of £5 per student. The school keeps any profit made by the enterprises once the loan has been repaid.

At All Saints First School, the Year 3 and 4 pupils taking part in the workshops on Friday afternoons are in the process of creating cinema nights, candle making, party planning, football tournaments and a science fair among other ideas.

Various subjects have been covered so far. These include branding, marketing and project management. Future sessions will include market research and launching the product/event.

Alison Craggs and Stephen Lee of Core Training and Consultancy have been planning and running the workshops each week alongside teachers Julie McLaughlin and Laura Ritson.

Owners of and representatives from local businesses – including Pinny Princess (Madelaine Rossi Ryle), French Grey Tales (Layla Welsh) and Relish Publications (Teresa Peters) – have also come along to talk about their experiences.

Sharon Murray, Virgin Money Make £5 Grow ambassador said: “The initiative gives youngsters an insight into how business works and helps them to build skills for the future, such as team-working, problem solving, leadership, money management and creativity.

“The creativity shown by the children never ceases to amaze me and I am certain that many will go on to have successful businesses of their own in the future.”