During the Entrepreneur week, so much 'real life' learning takes place. The children form teams and have to come up with an idea and business name. They then have to research pricing and possible profit margins. Next they have to create a very detailed shopping list of everything they are going to need to buy, ensuring their maths is accurate so as not to go over the £15 budget FOSA kindly lent each group, them to get their business up and running.
Over the next few days, they learn about percentages and profit and work out the expected turnover, and profit as well as advertising strategies, including persuasive writing techniques and poster layout and language.
Finally, the children get to sell their product or service and hopefully see all their hard work come to fruition.
The children have worked incredibly hard during this process and have thoroughly enjoyed it and learnt a lot from this opportunity. Thank you to all the staff, children, parents and FOSA for helping to make it a big success again this year. Final profits will be announced in next week's newsletter.
Maybe we have helped to create the next Lord Sugar!