BUDDING Richard Bransons were showing off their entrepreneurial know-how at King Charles School in Falmouth last week when pupils were given £5 and tasked with making a profit.

The year six pupils were all taking part in the Fiver Challenge, a nationwide initiative for primary schools which is supported by Virgin Money, and aims to inspire creativity and develop enterprising attitudes and behaviours in young people.

Each child starts the challenge with a £5 pledge and are invited to set up mini businesses to create products or services which they then sell or deliver at a profit.

Working in groups of between two and four and pooling their money, the youngsters at King Charles embraced the challenge and were soon on their way to a profit. Parents and friends were invited into school at the end of the day last week to shop at the stalls set up by pupils in the playground.

On sale was a range of products from ice lollies and cold drinks to home-made sweets and cakes. Assistant head Lee Moscato, said: "They have absolutely loved it. They are buzzing and everyone is running at a profit. They have had to come up with a business plan, carry out market research and look at financial management. It is a really good life skill."

At the end of the challenge, the pupils repay their £5 pledge, make a donation to charity then and all the profits are pooled and the children will get to decide what to spend them on.