Principality and enterprise charity team up to provide business challenge for young people

PRINCIPALITY Building Society has teamed up with the UK’s leading enterprise charity to bring an entrepreneurial project to young people at home in Wales this spring.

The Fiver from Home programme, run by Young Enterprise and funded by Principality asks students aged 5-11 years to create, research and plan a business with just £5 in preparation for the Fiver Challenge that starts on June 1. Created in response to the coronavirus pandemic last year, Fiver from Home allows young people to develop their creativity, commercial awareness and money management skills at home.

As the sponsor of Fiver from Home in Wales, Principality has provided funding allowing Young Enterprise to bring the challenge to Wales on a larger scale and in the Welsh language. Last year’s summer Fiver from Home challenge saw more than 7,000 young people across Wales take part.

Fiver from Home 2021 launches in early March when the Fiver platform opens for registrations. The initiative can be used as a standalone project or as a way for young people to kickstart their business ideas for the Fiver Challenge in the summer term, where young people will then have the opportunity to enter competitions including Best Logo, Best Sales Pitch and Best Overall Project for the chance to win prizes.

Eight-year-old Indi Bevan took part in the Fiver from Home challenge last year – establishing a mini bakery business and receiving the accolade of Best Overall Project. Indi’s mum, Melissa Bevan, said:

‘’Indi really took to the Fiver from Home project; it was something different that sparked her imagination and entrepreneurial flair. The project taught Indi many new skills that she will continue to use in the future, including; creativity, market research and planning. Making cakes entirely by herself at the age of seven was Indi’s unique selling point. At no point did she ever imagine she would win the prize for ‘Best Overall Project’ in Wales. With her profit, she put the money to good use and bought her own roller skates, which she uses non-stop.’’

Julie-Ann Haines, Chief Executive Officer at Principality Building Society said:

‘’As a member-owned organisation, we are passionate about helping young people to build their life skills, which is why we are delighted to be supporting the Fiver from Home challenge again for 2021 with Young Enterprise. Last summer’s Fiver from Home demonstrated the desire from young people to challenge themselves and engage in entrepreneurship from home and we can’t wait to see the budding business ideas that young people in Wales imagine this year.”

Russell Winnard, Director of Programmes and Services, Young Enterprise said:

‘’We are delighted to once again offer the Fiver from Home and Fiver Challenge in the Welsh language in partnership with Principality Building Society. In 2021 we look forward to extending the reach of the Fiver Challenge and Fiver from Home within Wales, building on the participation in 2020 that saw more than 7,000 primary aged young people take part in the programme and develop on their entrepreneurship skills.”