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Fiver Business Challenge

15th July 2021

Fiver Business Challenge

Over the last term, year 6 have been taking part in the national Fiver Challenge competition for their enterprise project. They started by researching successful businesses/products and deciding what would work best for their target audience, children and parents of the school. They then designed their brands/products and decided on pricing, before pitching these ideas to a panel of "dragons" who decided whether their business was worth an investment! They were grilled on cost prices and profit margins before being awarded a maximum of ¬£5 per child in each group. They then bought and made their products, advertised these and prepared for their sale. The sale itself was a huge success with most businesses selling out. However, some groups later learnt an important lesson when we subtracted their costs from their overall profit! This did not dampen their enthusiasm for the project and we expect to see these budding entrepreneurs popping up on the real Dragon's Den some time in the future. 

Miss Jenny