A celebration event takes place on Tuesday 17 July to mark the final stage of an innovative enterprise project for primary and junior school children in North Lincolnshire.
Make £5 Blossom is a scheme where local businesses lend £150 to schools to allow children to then invest it in different projects with the aim of making as much profit as possible.
This is the third time the project has been run in North Lincolnshire. The previous school term projects have made profits exceeding £7000, which continues to grow, with money-making ideas ranging from car washes to producing hand-made bubble baths and soaps and selling refreshments at school events to a bingo night.
The links between the schools and businesses are further strengthened as the businesses provide expert advice and help to the different groups of school children to guide them through the project.
Schools then keep the profits and some that took part in the first scheme have reinvested the money so more children could take part this time around.
A number of businesses also donated their £150 loans to the schools to reinvest in enterprise activities.
UK Steel Enterprise Ltd, a wholly owned subsidiary of Tata Steel is the main sponsor of the scheme. The company provides business finance to a wide variety of companies to encourage business growth and job creation in areas affected by changes in the steel industry.
A key part of its work is supporting community initiatives that improve the local economy such as Make £5 Blossom.
Keith Williams, Regional Manager for UK Steel Enterprise, said:
“We are really excited about being involved with Make £5 Blossom. It’s vital that we encourage enterprise and entrepreneurship in our young people and this scheme is the perfect vehicle to make that happen. What’s more our sponsorship develops the skills of the teachers involved which has to be seen as a major investment in our young people.
"We are looking forward to seeing the ideas that the next generation of business leaders come up with in North Lincolnshire.”
Make £5 Blossom was created by Rotherham Ready, a subsidiary of Rotherham Metropolitan Borough Council and it is co-ordinated by North Lincolnshire Council.
Tuesday’s close event at the Kingsway Centre in Scunthorpe will be opened by Cllr Peter Clark, Deputy Mayor of North Lincolnshire. It gives the school children the chance to demonstrate their entrepreneurial skills, present their projects and discuss their experiences.
Exciting Make £5 Blossom activities have included painting tote bags, designing and printing Olympic themed t-shirts for the school’s sports day, making and selling lemonade and also holding a school disco
Cllr Liz Redfern, leader of North Lincolnshire Council, said:
“Make £5 Blossom is a wonderful scheme that encourages children to develop business skills and demonstrate their entrepreneurial flair.
"Local businesses lend money to the schools to invest as best they can and also provide expert advice and guidance to help them through the project.
"Schools then keep the profits they make with the children deciding how it should be spent.
“It has many benefits, not only for the children taking part but also their teachers and local businesses.
“I very much look forward to seeing the scheme progress and hearing all the investment ideas the children come up with.
“I’d also like to take this opportunity to thank all the businesses and schools taking part, Rotherham Ready and UK Steel Enterprise Ltd for their support of the scheme.”
The schools and businesses taking part in the scheme include:
Althorpe and Keadby Primary School
Henderson Avenue Primary School
Holme Valley Primary School
Kirton Lindsey Primary School
Lincoln Gardens Primary School
Messingham Primary School
St Norbert's Roman Catholic Primary
Winteringham Primary School
CH Jefferson & Co
Kevin J Moloney Associates Ltd
North Lincolnshire Developments Ltd
The Make £5 Blossom launch event is on Tuesday 17 July at the Kingsway Centre, Scunthorpe, from 9.30am to 12 noon. The event will include presentations from each of the school classes outlining their experiences throughout the scheme, the business idea/s they came up with, and the profit they made. This will be followed by the pupils presenting back the £150 loan to their business partner. The Deputy Mayor, Cllr Peter Clark will open the event.
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