Young Enterprise update – June 2024

Education Select Committee on Financial Education

At the beginning of this year, Young Enterprise was delighted to be invited to give Oral evidence at two of the sessions hosted as part of the Education Select Committee inquiry into financial education. You can read our full submission to this inquiry here.

We were delighted to see the recommendations released by the inquiry, read our response on our website, and you can read our CEO Sharon Davies’s thoughts published in the Teaching Times here.

YouGov Research – Teacher’s perspectives on financial education and resources

Young Enterprise recently commissioned a YouGov survey of over 1,000 teachers to give their perspectives on financial education delivery in the UK. The research revealed that, a difficult backdrop of tight budgets and time pressures, many teachers are delivering financial education across different phases of education and different subjects, but provision is consistent, leaving some young people missing out.

Key findings include:

• 67% of secondary teachers say that financial education is being delivered at their schools
• 40% of secondary maths teachers are including some elements of financial education in their lessons
• 87% of teachers think it is important that financial education resources are independently quality assured

You can view the full findings here.

Seren’s Farm – financial education in rural Wales

We recently launched a new project to develop financial capability and enterprising mindsets in rural North Wales. Seren’s farm, a project that will support around 7,500 young people at rural primary schools in Wales where farming is significant to the local economy, was launched in Spring 2022 and is now in it’s implementation phase.

The project includes:

1. The development of a bespoke, bilingual (Welsh and English) workbook connecting farming with financial and enterprise skills, created in collaboration with students from Ysgol Pentrecelyn, a small, Welsh medium primary school near Ruthin, North Wales. Seren’s Farm has been awarded the financial education Quality Mark and is available for free from the Young Enterprise website.
2. Publication of 7,500 copies of the work book for distribution to young people across Wales alongside interactive workshops with 20 rural Welsh primary schools.
3. The establishment of a volunteer network of Financial Champions from communities local to the schools involved with the project
4. All schools taking part are also offered to run Young Enterprise’s Fiver Challenge, a mini-enterprise journey enabling 5-11 year olds to take the first step into the world of business as they see what they can create with just £5 over four weeks

The project is currently being implemented, and is on track to complete roll out by the end of July 2024.

 

Money Heroes wins Award

We are delighted that Young Enterprise’s Money Heroes programme was awarded the Banks & Financial Services category at the Business Charity Awards in May 2024. HSBC UK has supported us to reach 720,000 young people so far, and teach them the vital skills needed to earn and manage their money. You can find out more about the programme here.

 

My Money Week – 10^th-14^th June 2024

My Money Week is a national activity week aiming to get children and young people aged 3-19 excited and interested in financial matters.

This year’s theme is saving money and protecting the planet. You can download our free resources from the My Money Week Hub and get involved on social media using the hashtag #MyMoneyWeek.

Other Member Updates:

All-Party Parliamentary Group on Financial Education for Young People

Centre for Financial Capability

CISI Future Foundation

Just Finance Foundation

Mental Health UK

The Money Charity

MyBnk

National Youth Agency

Quaker Social Action

St James Place

Wealthify

Young Enterprise

Young Enterprise Northern Ireland