RSS
London SE1 website team

Young traders double their money with Elephant & Castle tote bags

Tote bags designed and marketed by local children proved a sell-out sensation at the Elephant & Castle Market on Saturday.

Young traders double their money with Elephant & Castle tote bags
Young traders double their money with Elephant & Castle tote bags

The 7 to 13-year-olds from Camberwell-baserd Southside Young Leaders Academy were given micro-loans of 58 and just four days to bring their money making ideas to market.

On Saturday they brought their products – a range of tote bags decorated with local images – to Elephant & Castle Market and raked in a profit of 120.

Education charity MyBnk trained them in everything from product development and writing a business plan to customer service.

"I learnt how to make money with a small budget, target my audience, cost it out and work as a team," said 12-year-old Manutor. "I didn't know I could do that."

MyBnk offers free money and enterprise workshops to secondary schools and youth groups and is part of the new 1 million Big Lottery Fund-suppoered Lambeth FACE (Financial Advice and Confidence Education) project.

Simeon, aged 10, said: "It was great, I want to do it again, have more variety of goods, price it high, no discounts!"

MyBnk CEO Lily Lapenna said: "If ever young people needed an entrepreneurial attitude to life it is now. We have 9-year-olds writing business plans and teenagers budgeting!

"With us, young people learn key life skills by doing it for real."

The SE1 website is supported by people like you

Please join our membership scheme or sponsor an hour of local reporting so we can survive


You can also make a small payment to say 'thank you' for this article with Tibit:

This article on a map

Map

Keep up with SE1 news

We have three email newsletters for you to choose from: