After a hugely successful 2015; The Fiver Challenge - set up by Young Enterprise UK and supported by Virgin Money - is back.

This nationwide competition is open to 5-11 year olds, whereby pupils have one month to set up a mini business and create a product or service which they can then sell or deliver at a profit and engage with their local community. Upon registering, each participant is pledged £5 to get their enterprise off the ground - working individually or as a group.

Last year saw a total 31,834 children taking part and winners included Best Group, Best Profitable Business Idea and Best Community Engagement.

The Fiver Challenge aims to inspire creativity and develop enterprising attitudes and behaviours in young people. It has also been praised for delivering practical opportunities to introduce students to key employability skills, from business planning to marketing and selling.

To learn more, please visit www.fiverchallenge.org.uk.