unsure about new school event

[EmmaMRN]

Just wondering what people think of this. My DD came home last week with a poster about an event called Enterprising Minds. There was a talk at her school about it, and what happens is her and her group of friends are given £20 to start a small business. All the money they raise goes to charity (Barnardo?s), and the loan comes from the charity too. She keeps going on about it, and I thought it would be amazing at first, but now I?m a bit concerned.

Just not sure if it?s a good idea to just give a group of 13 year olds £20 and expect them to give all profits back. We?d be keeping an eye on the girls and making sure, but there?s a lot of trust there! I do think it?s a good idea in a way, she can get a really good experience- but also really worried their idea won?t work. I don?t want her to fail and be really upset, but she won?t know until she tries. It?s so different from anything I?ve heard of before though that I keep thinking about everything that could go wrong!

Do you think I should be okay with her doing this? Am I being too paranoid? Has anyone else?s children done anything similar, or taken part in fundraising? All thoughts would help!

I think it's pretty standard TBH. My DC's school does it - they publish recipe books, or sell mugs. I'm not sure what you're worried about - they'll do it in a group, and if they fail then they'll learn from it, although I expect there will be guidance from teachers.

I would also fully expect 13 year olds to give all the profits back. Has your DD done any fundraising activities before, eg with Guides?

You seem to have low expectations of her - failing and not giving in the money. Please don't tell her of your reservations. Let her do it, and prepare to be pleasantly surprised.

you are being paranoid it would be easy to make a profit on 20 quid. a cake sale could double the money.

The friends /family will be expected to buy whatever they produce through the 'business'

It's just a money making thing, gets you all buying stuff you don't want but can't say no as you have seen your dc work on it!

I'm sure the school don't just hand over the money - they will expect them to come up with a plan first, decide what their business is going to be, what supplies or equipment they need, what it costs, what they are going to do/make etc. I'd bet they don't get the cash until they can explain what they're going to spend it on!

Let her do it if she's keen - I don't see why you would have ay major worries about it tbh, its quite a common idea.

or they could go to a pound shop and by packs of 4 mars bars etc then sell at school for 50 pence each. double money in an instant.

Or is this not the sort of thing they are looking for?

They have you ( parents) over a barrel really!!

Not as if you will refuse to buy it is it!?!

You're overthinking. It'll be fine. She won't "fail" but if she does, then she does. At some point, she will "fail" at something. Or are you going to stop her doing anything that might risk failure? Like GCSEs for instance

Well with that attitude she will need to learn enterprise from somewhere!

We did young enterprise when I was 16-18 and were given £100 by Lloyds Bank plus premises to work from with a local business.

We made a small profit but learned soooooo much. Not least, that I loved being the accountant (I'm now an FCA). Even if you fail to make a profit the most you can lose is someone else's £20. Hardly a great issue. You cannot protect her forever and one day she will fail at something (unless she never does anything) so may as well learn about dealing with it now.

I work with entrepreneurs all the time and they are a very clever bunch (not necessesarily on an academic scale) and inspiring to work with. She may show these skills or, if not, see them in her peers.

Sounds to me like a bit of thoughtful fun.

We did a similar thing at school and at 6th frm college too.

The first business was called Penpoppers and we sold basic school stationery items to fellow pupils at break time.

The second we sold chocolate and crisps at 6th form.

Both times we made a very small profit.

it's great - and there won't be any issues with honesty as it's also quite competitive and they all want to make the most profit.

I did a similar thing at school.....the idea was to see which team could make the most money. So no incentive to pocket the cash. Also, we had to account for all the money.

We bought a load of car washing equipment, and went around washing peoples cars.

They can't really fail, unless the idea is really bad or they are very lazy and don't bother. And if she does fail, it will teach her a lesson worth learning.