{"id":38357,"date":"2014-01-30T10:57:04","date_gmt":"2014-01-30T10:57:04","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=603170032be2ad5c2c10033d3ca92364"},"modified":"2014-01-30T10:57:04","modified_gmt":"2014-01-30T10:57:04","slug":"press-release-young-enterprise-partners-with-virgin-money-and-department-for-business-to-launch-new-enterprise-challenge-for-primary-school-children","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=38357","title":{"rendered":"Press release: Young Enterprise partners with Virgin Money and Department for Business to launch new enterprise challenge for primary school children"},"content":{"rendered":"<div class=\"govspeak\">\n<ul>\n<li>school children will be encouraged to set up a business and watch their money grow<\/li>\n<li>the <a rel=\"external\" href=\"http:\/\/www.fiverchallenge.org.uk\/\">Fiver Challenge<\/a> will provide schools with \u00a35 for every pupil taking part<\/li>\n<li>Lord Young launches a call for evidence for his report to the Prime Minister on Enterprise in Education<\/li>\n<li>the <a rel=\"external\" href=\"http:\/\/www.fiverchallenge.org.uk\/\">Fiver Challenge<\/a> builds upon <a rel=\"external\" href=\"http:\/\/www.virginmoney.com\/uk\">Virgin Money\u2019s<\/a> \u2018Make \u00a35 Grow\u2019 scheme <\/li>\n<\/ul>\n<p>A new nationwide competition that gives primary school children a loan of \u00a35 and encourages them to do something enterprising to grow their money launches today (30 January 2014).<\/p>\n<p>It coincides with the news that the Prime Minister\u2019s Enterprise Advisor, Lord Young, will focus his third and final report to the Prime Minister on how to boost enterprise and entrepreneurial spirit in education &#8211; right through from nursery to further and higher education.<\/p>\n<p>Thousands of pupils aged up to 11 will be challenged to set up mini businesses under the scheme, created by <a rel=\"external\" href=\"http:\/\/www.young-enterprise.org.uk\/\">Young Enterprise<\/a>, in partnership with the Department for Business, Innovation and Skills and Sir Richard Branson\u2019s <a rel=\"external\" href=\"http:\/\/www.virginmoney.com\/uk\">Virgin Money<\/a>.<\/p>\n<p>The first round of this innovative contest will run throughout the month of June 2014 and there will be a national award ceremony in September 2014 with winners in various enterprising categories.<\/p>\n<p>Called the <a rel=\"external\" href=\"http:\/\/www.fiverchallenge.org.uk\/\">Fiver Challenge<\/a>, the programme will provide schools with a loan of \u00a35 for every pupil taking part. The young people will create products or services to sell at a profit \u2013 which they are allowed to keep. They return the original loan to the Fiver Bank, with a voluntary additional donation which will be used to fund next year\u2019s contest. <\/p>\n<p>Skills and Enterprise Minister Matthew Hancock said: <\/p>\n<blockquote>\n<p>It\u2019s important that young people gain the skills and experience they need to help them understand what it means to run a business and to do it successfully.<\/p>\n<p>The new <a rel=\"external\" href=\"http:\/\/www.fiverchallenge.org.uk\/\">Fiver challenge<\/a> and Lord Young\u2019s upcoming Enterprise Education review support the government\u2019s drive to build a culture of enterprise and I hope this will inspire a new generation to consider entrepreneurship as a career option.<\/p>\n<p class=\"last-child\">From my experience kids can be incredibly enterprising, I can\u2019t wait to see what ideas they come up with.<\/p>\n<\/blockquote>\n<p>The Prime Minister\u2019s Enterprise Advisor, Lord Young said:<\/p>\n<blockquote>\n<p>A society and an education system which fosters and values enterprise is vital if young people are to be fit and ready for the real world when they leave school, college or university. I will be looking across the education system to see what more can be done to boost our entrepreneurial spirit and will report back to the Prime Minister in the summer.<\/p>\n<p class=\"last-child\">I am delighted that government has been able to provide funding and partner up with <a rel=\"external\" href=\"http:\/\/www.young-enterprise.org.uk\/\">Young Enterprise<\/a> and <a rel=\"external\" href=\"http:\/\/www.virginmoney.com\/uk\">Virgin Money<\/a> to fund this innovative scheme \u2013 who knows, maybe I\u2019ve met the CEO of the next Virgin or Google in Lauriston School this morning.<\/p>\n<\/blockquote>\n<p>Michael Mercieca, Chief Executive of <a rel=\"external\" href=\"http:\/\/www.young-enterprise.org.uk\/\">Young Enterprise<\/a> said: <\/p>\n<blockquote>\n<p>Ever since we launched Tenner, which runs in March and suits secondary schools best, we have received many requests from primary teachers to create something similar in June \u2013 which is much more convenient for primary schools.<\/p>\n<p class=\"last-child\">I am delighted that Sir Richard Branson and <a rel=\"external\" href=\"http:\/\/www.virginmoney.com\/uk\">Virgin Money<\/a> have forged a partnership with <a rel=\"external\" href=\"http:\/\/www.young-enterprise.org.uk\/\">Young Enterprise<\/a> to make that possible. Thanks also to the support of the government, the <a rel=\"external\" href=\"http:\/\/www.fiverchallenge.org.uk\/\">Fiver Challenge<\/a> will give tens of thousands of primary pupils a vital chance to make an early start in acquiring enterprise and employability skills and attitudes that could transform their lives and the future prosperity of this country.<\/p>\n<\/blockquote>\n<p><a rel=\"external\" href=\"http:\/\/www.virginmoney.com\/uk\">Virgin Money<\/a> Chief Executive Officer, Jayne- Anne Gadhia said: <\/p>\n<blockquote>\n<p class=\"last-child\">The Virgin brand has a long history in enterprising and entrepreneurial endeavours and we are delighted to be supporting <a rel=\"external\" href=\"http:\/\/www.young-enterprise.org.uk\/\">Young Enterprise<\/a> in this initiative. There is a great synergy between <a rel=\"external\" href=\"http:\/\/www.virginmoney.com\/uk\">Virgin Money\u2019s<\/a> Make \u00a35 Grow scheme and the <a rel=\"external\" href=\"http:\/\/www.fiverchallenge.org.uk\/\">Fiver Challenge<\/a> and this programme is going to offer a wonderful opportunity for aspiring, young entrepreneurs to demonstrate that with the help of \u00a35, they can turn a great idea into an exciting little business and learn how to grow their money at the same time.<\/p>\n<\/blockquote>\n<p>The initiative is designed to encourage school children to develop valuable enterprise skills such as teamwork and problem solving and to see entrepreneurship as something they can aspire to.<\/p>\n<p>The <a rel=\"external\" href=\"http:\/\/www.fiverchallenge.org.uk\/\">Fiver Challenge<\/a> builds upon <a rel=\"external\" href=\"http:\/\/www.virginmoney.com\/uk\">Virgin Money\u2019s<\/a> \u2018Make \u00a35 Grow\u2019 scheme that launched during 2013 and has already reached around 5,000 school children, and the <a rel=\"external\" href=\"http:\/\/www.young-enterprise.org.uk\/\">Young Enterprise<\/a> \u2018Tenner\u2019 scheme which involved 15,000 secondary school children last year. <\/p>\n<h3 id=\"notes-to-editors\">Notes To Editors<\/h3>\n<p>1.The first year plan is to engage 20,000 children in up to 500 primary schools across the UK, increasing to 30,000 young people in 2015 and 40,000 in 2016.  <\/p>\n<p>2.Schools interested in taking part in the Fiver Challenge should register their interest at  <a href=\"mailto:%20fiverchallenge@y-e.org.uk\">fiverchallenge@y-e.org.uk<\/a><\/p>\n<p>3.Lord Young\u2019s Enterprise Education review is a commitment in <a href=\"https:\/\/www.gov.uk\/government\/publications\/small-business-commitment\">Small Business: GREAT Ambition<\/a>, the government\u2019s statement of how it will make it easier for small businesses to start and grow. The review will look at how to inspire more young people to consider enterprise and ensure they have the skills to succeed in running or working in a small business, and will report to the Prime Minister in the summer (2013).<\/p>\n<p>4.Suggestions for Lord Young can be emailed to <a href=\"mailto:%20enterpriseforall@bis.gsi.gov.uk\">enterpriseforall@bis.gsi.gov.uk<\/a><\/p>\n<p>5.Fiver will receive \u00a3330,000 from the Department for Business, Innovation and Skills<\/p>\n<p>6.<a rel=\"external\" href=\"http:\/\/www.young-enterprise.org.uk\/\">About Young Enterprise<\/a><\/p>\n<p>Young Enterprise is the UK\u2019s leading enterprise education charity. Every year they help 250,000 young people aged between 4 and 25 learn about business and the world of work in schools, colleges and universities. The students do this under the guidance of a network of 5,000 volunteers from 3,500 companies. This year more than 25,000 young people are taking part in the flagship Company Programme.<\/p>\n<p>7.<a rel=\"external\" href=\"http:\/\/www.virginmoney.com\/uk\">About Virgin Money<\/a><\/p>\n<p>Virgin Money provides savings, mortgages, credit cards, pensions, investment and protection products to customers throughout the UK Virgin Money\u2019s business ambition is to make \u201ceveryone better off\u201d \u2013 this philosophy underpins their approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to shareholders.<\/p>\n<p>8.Media enquiries contact:<\/p>\n<p>On Lord Young\u2019s report, Janine Lloyd-Jones in No 10 press office, 020 7930 4433<\/p>\n<p>Emma Brown, Press Officer, <abbr title=\"Department for Business, Innovation and Skills\">BIS<\/abbr>, 020 7215 5981, <a href=\"mailto:%20emma.brown@bis.gsi.gov.uk\">emma.brown@bis.gsi.gov.uk<\/a><\/p>\n<p>Paul Eastham, Head of Communications, Young Enterprise, 020 7549 1980, 07713 393 594, <a href=\"mailto:%20paul.eastham@y-e.org.uk\">paul.eastham@y-e.org.uk<\/a><\/p>\n<p>Kate Corry, Press Officer, Young Enterprise, 020 7549 1980, 07909 990 531, <a href=\"mailto:%20kate.corry@y-e.org.uk\">kate.corry@y-e.org.uk<\/a><\/p>\n<p>Brian Giles, Head of Communications, Virgin Money, 0191 2794981, 07855 257 288, <a href=\"mailto:%20brian.giles@virginmoney.com\">brian.giles@virginmoney.com<\/a><\/p>\n<p>9.The government\u2019s economic policy objective is to achieve \u2018strong, sustainable and balanced growth that is more evenly shared across the country and between industries\u2019. It set 4 ambitions in the <a href=\"https:\/\/www.gov.uk\/government\/publications\/plan-for-growth--5\">\u2018Plan for Growth\u2019<\/a>, published at Budget 2011:<\/p>\n<ul>\n<li>to create the most competitive tax system in the G20<\/li>\n<li>to make the UK the best place in Europe to start, finance and grow a business<\/li>\n<li>to encourage investment and exports as a route to a more balanced economy<\/li>\n<li>to create a more educated workforce that is the most flexible in Europe<\/li>\n<\/ul>\n<p>Work is underway across government to achieve these ambitions, including progress on more than 250 measures as part of the Growth Review. Developing an <a href=\"https:\/\/www.gov.uk\/government\/policies\/using-industrial-strategy-to-help-the-uk-economy-and-business-compete-and-grow\">Industrial Strategy<\/a> gives new impetus to this work by providing businesses, investors and the public with more clarity about the long-term direction in which the government wants the economy to travel.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Primary school children will be given chance to start their own business with a \u00a35 loan under a new scheme to encourage young entrepreneurs.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/38357"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38357"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/38357\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}