A SCHEME to get children involved in running a business and developing the skills that go with it is seeking involvement from the Isle’s business community.
North Lincolnshire Council is preparing to re-run its ‘Make £5 Blossom’ scheme that unites school teams with businesses to encourage potential young entrepreneurs in primary and junior schools in the county.
It has called for volunteer businesses to partner with schools to whom they’ll lend £150 to kick-start the enterprise.
Last year schoolchildren raised over £4,000 in profit, and repaid all their sponsors.
This made a positive impact on about 500 pupils and 30 teachers.
The scheme that is sponsored by UK Steel Enterprise aims to get children involved and develop their business, and entrepreneurial skills that are needed for running a business, by letting them have a go themselves.
Businesses will be able to meet children from the schools they have invested in during an initial training programme and are encouraged to visit pupils throughout the project.
Schools will be presented with the money on the basis that they have to make a profit - paying back the loan in full by the end of the school year.
This scheme allows children to develop business plans, breakevens charts and launch a business idea or product with support from a local business.
In school, they will decide what they sell, where they sell it and to whom, before checking the profits and presenting their final results at the closing event.
Pupils that took part in round one invested their £150 business loan from local businesses.
Every school generated enough revenue to repay their business partner and also made a profit.
Businesses can register their interest to take part in the scheme by contacting Laura Staniforth on 01724 297344 or by emailing firstname.lastname@example.org.
Coun Liz Redfern, Leader of North Lincolnshire Council, said: “Make £5 Blossom is an excellent scheme that encourages children to develop their business skills and prepare them for the future.
“I would encourage local businesses to take part and invest in the school children as it has many benefits for everyone.”