Young entrepreneurs prove they can ‘grow a pound’

Young entrepreneurs were challenged to ‘grow a pound’ as part of a joint initiative between Shropshire’s not-for-profit savings and loans co-operative and a local school.

Hannah Fox with the 'grow the pound' winners
Hannah Fox with the 'grow the pound' winners

Just Credit Union gave each pupil at Wilfred Owen School in Shrewsbury a £1 which had been confiscated from illegal money lenders.

Three weeks later they went back to the school to see how much they could turn their one pound coin into.

Today it was revealed that the school as a whole had grown the 195 one pound coins into a staggering £2,600 - and counting.

Steve Barras, Just Credit Union’s development officer, said: “The challenge was part of an initiative to raise the youngsters’ money awareness.

"Following a launch assembly the older pupils had the opportunity to pitch their ideas in a Lord Sugar The Apprentice style board room.

“We were delighted to have the opportunity to come back today and find out if they had turned their plans into reality and we were amazed by what they had achieved.”

Before announcing the grand total, Hannah Fox, who led the initiative for the school, said: “We were blown away by the dedication and hard work of all our pupils and their parents. They had some amazing ideas and also developed some great life skills.

“Through this initiative they have not only learned about money, but also about using their own initiative and the importance of re-investing.”

Hannah then announced the individual winners.

Steve Barras added that the money given to the youngsters was from the national ‘Stop Loan Sharks’ campaign.

“I was delighted to hand out individual trophies for the three highest earners and one for the best idea," he said.

“But the whole school, including the staff and parents, are winners and should be very proud of what they have achieved.”

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