This term, Felsted’s Year 5 have been given the opportunity to develop their business and entrepreneurship skills with our new Entrepreneurs Club.
Each Friday, the group of intrepid, future business leaders meet to design, plan and develop their own business. So far, the entrepreneurs have researched and designed possible products, sourced materials and completed detailed cost and pricing analysis for their proposed products.
The first aim will be to finalise presentations to their potential investors in order to secure the necessary backing for their fledgling venture. Once funding has been secured, the entrepreneurs will be able to proceed with production and plan a selling event for their merchandise.
It is all rather like a junior version of Dragon’s Den! The children’s ideas and enthusiasm have been limitless and they have embraced the idea of starting with a small idea and building that idea in order to make a profit. If the business is successful, then the entrepreneurs will be able to repay their investment and decide what to do with their profits.
By participating in the Entrepreneurs Club, the children are developing essential communication and collaboration skills by working as a team and presenting their ideas to others. They are also utilising their mathematical skills in a real life situation, learning about money management in a fun, interactive way.