Principality Building Society partner with Young Enterprise to deliver the Fiver Challenge. This is an award-winning, free-to-access national enterprise challenge providing children aged 5 – 11 with an interactive way to develop core enterprise and finance education skills. As a Transforming Futures Group founding member, Principality have committed to supporting the challenge for three years, which has included helping to promote the challenge through their branches, social media, a teacher event and host a 60th Anniversary celebration.
“The Fiver Challenge continues to provide young people with a brilliant opportunity to introduce and develop transferable skills that will remain with them for life. We are thrilled to be partnering with Principality for three years to offer this programme to young people across both Wales and England, helping to support the development of valuable life skills in a fun and engaging way.”
– Sharon Davies, CEO of Young Enterprise
Principality Building Society
In 2022, Fiver was delivered at 357 centres across England and Wales, provided 19,902 opportunities for young people, and engaged 444 educators. Teachers agree that a great “thing about Fiver was seeing children who might not normally achieve find new strengths.”
Key skills developed include:
• Learning about enterprise and money management
• Key mathematical skills, including problem-solving
• Financial capability skills they can apply to their personal and working lives
• Communication skills that will improve their confidence and self-esteem
• Creative and practical skills, including digital skills
• The ability to build relationships with a wide range of peers and other adults
“The Fiver Challenge has been a fantastic initiative – the children have worked collaboratively and organised themselves superbly. They all broke even or made lots of profit! A fantastic initiative which we will take part in again next year,” Teacher 2022.
Partnership Ambitions
In 2023, Fiver celebrates its 10th anniversary and continues to go from strength to strength, with 2023 already seeing over 22,000 young people participating so far. The website and resources are bilingual, in Welsh and English.
Future developments include further promotion of Fiver to enable the challenge and free resources to be used throughout the year at a time convenient for the schools, youth groups or home users.
How is Young Enterprise supporting Principality Building Society?
Young Enterprise is supporting us in our ambition to deliver an impact beyond our scale by helping us in our efforts to prepare young people for the future. In line with our commitment to the Future Generations Act, our partnership enables young people to develop their skills and knowledge in an entrepreneurial way allowing them the freedom of their own imagination to create a business and learn valuable key skills for the future.
Sharon Davies, CEO, says “The Fiver Challenge continues to provide young people with a brilliant opportunity to introduce and develop transferable skills that will remain with them for life. We are thrilled to be partnering with Principality for three years to offer this programme to young people across both Wales and England, helping to support the development of valuable life skills in a fun and engaging way.”
“We’re delighted to have teamed up with Young Enterprise to bring the Fiver Challenge to children and young people across Wales and England. We are passionate about helping young people to build their life skills, which includes supporting hard-working schools with financial education and careers-based activities. Our commitment to this challenge over the next three years will mean we can continue to grow this project and partnership, and we can’t wait to see the results.” Vicky Wales, Chief Customer Officer