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Global Entrepreneurship Week – Day 1, Loan challenge


Global Entrepreneurship Week 2013 sees MyBnk bringing enterprise education to over 1,200 young people with 24 projects in dozens of schools and youth groups.

Day one kicked off  with a full day Back my Business loan challenge for 200 pupils at St Martin in the Fields High School for Girls.

The school based enterprise experience gets young people creating their own businesses using real money and interest free loans which MyBnk backs up with support. Pupils running the school’s MyBnk-in-a-Box microfinance scheme decide which five/six of the best enterprise ideas advance to the next round and get a chance to actually create and sell their product!

“Our business idea is to make accessories but because that won’t attract everyone we’re going to make tie-dye backpacks too and we’ll make them from recycled goods. This gives people a kickstart to the world of business and entrepreneurship which some people will be able to use in their futures – I’d love to have my own dance company when I get older so I’ve loved everything we’ve learnt today, I hope we can do it again!” Chelsea, 12. 

The challenge was turning their creative ideas like making smoothies, bracelets and phone cases into something profitable with a social enterprise element like using recyclable material or combining their products with an educational element.

Who will advance to Round Two of Back my Business? Teams will be judged on teamwork, ambition and creativity so today was all about the girls battling to show us who really has what it takes to run their own businesses! Watch this space.

“MyBnk have shown us how to manage money, I’ve really enjoyed it so far, I’ve learnt it’s not just about money it’s thinking about how you can make it work. I want to be a nurse or a lawyer but I may start my own business.” Elenor, 12.






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