# Virgin Money extends Make £5 Grow scheme to all UK primary schools

- Link: https://fundraising.co.uk/2013/09/07/virgin-money-extends-make-5-grow-scheme-all-uk-primary-schools/
- Published: 2013-09-07T12:00:57+01:00
- Author: Howard Lake

Virgin Money is extending its Make £5 Grow scheme to primary schools across the 
country. The scheme is designed to offer an enjoyable way for pupils to learn entrepreneurial
skills together with the basics of financial education.

So far nearly 3,000 children have been involved in the test phase in the North East
and North West of England and participating schools have made a combined profit 
of £10,000.

[Virgin Money](http://www.virginmoney.com) offers schools an interest-free loan 
of £5 for every participating pupil, up to a maximum of £250 per school, for 50 
pupils. Pupils are then encouraged to form small teams, pool their money and create
a small business and develop products or services they can sell.

## Advertisement

In the process they are encouraged to think carefully about their target audience,
product costing, pricing and marketing. Schools keep any profit made after the original
loan has been paid back. Virgin Money staff volunteers get involved to help make
the scheme a success.

## Clent Parochial Primary School

For example, Year 5 and 6 pupils at Clent Parochial Primary School in Worcestershire
made £386 in profit recently by taking part in the scheme.

Headteacher Christian Hamilton introduced Make £5 Grow to 31 pupils earlier this
year. It was so successful that he now plans on expanding the number of pupils taking
part.

He added: “Being able to use and apply skills that are taught in class to real-life
situations has helped the children develop in confidence and teamwork, demonstrate
leadership skills and have fun. Parents loved it too. We’ve had some great comments.”

![Clent Primary School participants in Make £5 Grow](/files/images/make-five-pounds-
grow-clent-school.jpg)

The profits have been invested in a class trip to West Midland Safari Park in Kidderminster,
as well as the purchase and care of a new school guinea pig, and there are still
some funds left over to invest in the expansion of the scheme.

Pupils at other schools have used the money to sell calendars, bags and cupcakes.
Some of these businesses are still running and continue to make a profit for their
school.

Details are available on 0191 279 4676.

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