The Fiver Report has now been completed and makes the case that experiences like the Fiver Challenge offer schools opportunities to promote the spiritual, moral, social and cultural development of students, all being statutory requirements for schools under the National Curriculum.
Supported by Virgin Money, Fiver Challenge is a free, fun and engaging initiative that provides 5 – 11 year olds with a £5 pledge for 1 month. Pupils are challenged to set up mini businesses to create products or services they can then sell or deliver, while developing key skills such as teamwork, problem solving and creativity. Pupils can then decide what to do with any profit they make – they can choose to spend it on school or class resources, a trip, or donate it to charity.
Key findings from the Report are:
- 94% teachers indicated that students developed at least one employability competency
- 70% teachers chose to take part in Fiver due to its practical learning experience
- Teachers were asked the extent to which they felt their students had developed key skills
- Teamwork, Creative thinking, Problem solving and Communication reported the most development (see pages 9-10)
- 90% teachers agreed that Fiver provides an opportunity for students to engage with the community, followed by 98% for raising self-employment awareness, 98% for Money Management Learning and 98% for raising world of work awareness
- 88% of teachers were new to Fiver
- Average profit £111.00
To read the Report click here: 2015 Fiver Challenge Evaluation Report