Supported with financial advice and guidance from Sandra Latter, the NatWest MoneySense Coach for Kent and former pupil at Leeds and Broomfield, the Year 5 and 6 students were divided into business groups and developed business plans, drew up budgets and made all of the preparations for opening the shops, before going through the motions of running the business and making a profit. The teams were then judged by the Dragon's team on their ability to present and deliver a business plan, budget and a potentially profitable project.
Commenting on the event, NatWest's Moneysense Coach, Sandra Latter said: "Today has been like going down memory lane as this used to be my Primary School, many years ago. I've had a fantastic time and I have been really impressed with the creativity and business acumen the young people have shown in setting up their businesses. It's been great to see the team work displayed by the members of the different 'companies' and to watch their self-confidence grow as the day went on. The importance of financial capability for young people cannot be underestimated as it's essential that they are equipped with the skills and confidence required to make decisions in adult life."
Mr Steve McGill, Head Teacher at Leeds and Broomfield C of E Primary School said: "Today has proved to be a real success, which the young people have really enjoyed. It's very important they gain basic money management skills and have the opportunity to develop their entrepreneurial and creative abilities. This activity was an extremely practical and fun way of doing this and brought alive what happens in real life, in association with the Dragon Dens theme. We cannot thank Sandra at NatWest enough for making such a wonderful programme available to our students and for coming along to help us deliver it."
NatWest also supports financial education through its MoneySense for Schools programme, the largest financial education programme in the UK. Since its launch in 1994, over 60% of schools in England and Wales have been involved in the MoneySense programme and last year alone NatWest staff, including Sandra Latter, delivered MoneySense lessons to over 335,000 young people. Real life examples and online and interactive activities, video clips and activity sheets bring the programme to life and today helped pupils learn the steps involved in setting up and running a business, including the basics of business planning and understanding the importance of marketing in running a successful business.
Any schools or colleges wanting to find out more about the MoneySense programme, how to get the FREE materials or how to get the support of a NatWest member of staff, should contact NatWest's Sandra Latter on 07995 302100 or visit the MoneySense website at www.natwest.com/moneysense.
Media Enquiries to:
Regional Communications Manager, NatWest
Mobile: 07899 062129