Everything there is to know about Make £5 Grow.
Do the pupils get anything for taking part?
Every school that signs up will receive pupil packs for every child taking part. These packs contain a wristband, badge and leaflet for each pupil and a leaflet for their parents. The school will also receive certificates for each pupil that can be issued after they have completed the programme.
Who can participate in Make £5 Grow?
The programme is open to all children who are at school or learning at home. The materials provided are aimed at 9-11yrs but the content is applicable for all ages.
We have more than one class who would like to take part, can we all run the programme?
Yes, each teacher can sign up their class and receive access to the online resources and up to £250. If you are home schooling, you can sign up as many of your children as you’d like. Please note we are only able to provide the £5 loan to schools.
I'm a parent can my child take part?
Yes, you can take part by signing up here.
I am a home educator, can my child still take part?
Yes of course, we want to support all young people develop the important skills and financial awareness this programme offers.
Do the children work alone or in teams?
They can work alone or in teams. We recommend working in teams but we appreciate this may not be possible. Ideally all the children work together where possible, or are assigned individual tasks which come together demonstrating team work.
What if I don't make a profit?
The original loan needs to be repaid as per the agreed T&Cs. If there is a concern over whether a profit will be made or not, please get in touch via Make5Grow.
Where can I get ideas on what kind of business to set up?
Take a look at our downloadable Factsheet which includes a section on how other schools have taken part in the programme.
When can I run it?
Now! You can start the programme any time that works best, simply input the desired start date when filling in the application form.
How much does it cost?
Nothing. Its is a free programme.
How does the school decide how to spend the profits made?
It's up to the school to decide how to spend the profit made. Some schools have used this to buy school equipment, to take the class on a day trip, have a celebration party, or have made a donation to a local charity. It's usually a good idea to involve the pupils in the decision at the beginning of the programme.
Is there anything that pupils can't do with their £5?
We leave that up to you, please read our Terms of Understanding for guidance.
Can we make and sell food/drink products?
It is up to the school / home educator to determine what is suitable.
What skills do pupils gain from the programme?
There are many skills gained from running the programme. It improves teamwork, problem solving, financial and risk awareness, leadership, maths, literacy and creativity. Pupils also develop an enterprising spirit.
Who do I contact if I need further help?
Please feel free to contact the Make £5 Grow team.
How long can we run the programme for?
The programme can be ran over as little as a week up to 3 months. If you need longer that is fine, simply get in touch and let us know.
Can other year groups take part e.g pupils aged 8 or 12?
Yes, although the programme is designed for ages 9-11 it can be completed by younger and older year children. We would recommend viewing the modules and adapting the material to suit your children's abilities.
I would like to run the programme but won't require any funds, can I still get involved?
Yes of course, you can still have access to the programme and all of the help and material that comes with it, simply complete the application form and specify 0 in the "amount required" field.
What is the address to send the cheque back to and who do I make it payable to.
You will need to complete the funds return form, adding your unique reference number we sent you on the initial Welcome email. You should send this with a cheque made payable to Virgin Money with the unique reference number written on the back, to:
Make £5 Grow
Newcastle upon Tyne
How do we receive the loan?
The loan will be sent in the form of a cheque together with the children's packs approximately 3-5 working days from the date that you receive confirmation of acceptance onto the programme. The cheque and childrens' packs will be delivered in the same box by courier. We are only able to send a cheque to a school.
How much can we have?
The maximum loan amount for a school that has not previously ran the programme with us is £250 per teacher taking part. Each teacher taking part can sign up their class and get access to up to £250.
However, if the school has previously ran the programme and want to borrow more than £250 then select the appropriate option on the application form.
Can we use social media?
Yes, it would be great if Make £5 Grow trended - on Facebook or Twitter we are Virgin Money and use the #Make5Grow including @VirginMoney. Please note, any social media activity should come from the parent/carer due to the age of the participants.
I have registered, what happens next?
We will now process your application, in the next three working days you will receive an email with your unique reference and link to all of the material needed to complete your programme.