Young entrepreneurs rewarded for their enterprising spirit
Pupils from Hazlehead School, who turned £1 into £6,000 in just 30 days have received an award from the charity which set the challenge.
The school took first place in the Schools Challenge category and came overall 3rd in the combined business/schools category in the Micro-Tyco competition set by Wildhearts, a charity which aims to tackle economic injustice by funding micro-loans and business training for people in 24 countries across Africa, Asia and Latin America. It helps them work their way out of poverty with dignity. As all loans are repaid the money raised is recycled to help more and more people.
The school's business partner Anderson Anderson & Brown which raised the same amount as the children won the Small & Medium Enterprise category. By working together about £12,000 was raised for the charity.
Micro-Tyco, which is the product of over ten years experience in enterprise education and entrepreneurial success, aims to inspire schools and companies to excel and encourage, to believe and to create compassionate global citizens.
Each team was given a micro-loan of £1 from WildHearts with one month [November 2013] to turn their money into as much cash as possible. Many entrepreneurial skills are developed during the challenge, including leadership, problem solving, thinking and enterprise and employability skills.
Hazlehead School worked with Anderson Anderson & Brown Chartered Accountants throughout the challenge. Although teams in both establishments remained separate, they exchanged knowledge and ideas and provided mutual encouragement. The school team checked-in with the firm every Friday during November to discuss progress and share running totals of how their £1 had increased.
Colin Downie, director, Wildhearts Charity presented Micro-Tyco awards to the school and its partners Anderson Anderson & Brown at a special ceremony at the school on Thursday 06 March.
Headteacher Barbara Jones, said: "The pupils thoroughly enjoyed being part of this challenge and raised a phenomenal amount of money through initiative, creativity and hard work by the pupils. It was also a great opportunity for the pupils to exchange ideas and knowledge with business people and in doing so they inspired each other."
During the competition, teams were regularly sent videos from the global Micro-Tyco Mentors including Sir Tom Hunter with tips and advice for the challenge, which can also be applied to everyday life and business.