Global Entrepreneurship Week Day 3 – The Loan Challenge

Written by , November 19, 2014

Day three of Global Entrepreneurship Week kicked off  with a full day of Back my Business loan challenge for 200...


Day three of Global Entrepreneurship Week kicked off  with a full day of Back my Business loan challenge for 200 pupils at St Martin-in-the-Fields High School for Girls.

Back My Business enables young people to create their own business ideas using real money and interest-free loans backed by MyBnk and all done in the school environment. The entirety of year 8 got involved in coming up with their own enterprise ideas to pitch to a group of year 10 business students, five winning teams will go through to the final round and see their products come to life at a special Christmas market during December in the school!


“Our group’s idea is to make Christmas themed cakes, one red velvet and one victoria sponge with berries on top, we’ve called ourselves Shake and Cake, we will be selling cakes but also playing music to shake to! I’ve enjoyed this, it’s nice to be creative and coming up with your own ideas, it’s taught me how to be responsible with money and work well with other people, we need to make sure we all got involved! It’s all very exciting.” Nicole, 12

The students set to work on coming up with their own enterprise ideas they wanted to bring to life, loads of ideas were thrown on the table, from personalised Christmas cards to gingerbread shaped in mistletoe. The winning teams that advance to the next round will also be donating a percentage of their profit to a charity of their choosing.


“We decided to be as creative as possible, we have to think practically. I’ve enjoyed coming up with the brand and working as a team. It’s very important to learn about this for entrepreneurial purposes; it will help prepare you for the future.” Taylor, 12

Who will advance to the next round? The teams are being judged on how they work together as a team and their creativity; the year 10 business panel will be looking for something out of the ordinary, something that you can’t buy anywhere else. Today was about the girls battling to show us who has what it takes to run their own business!

“I’ve never done this before, it’s important because if I go into business it’s a good opportunity for the future.” Aziza, 12


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