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Budding young entrepreneurs will go head-to-head as Peter Jones CBE announces the official start of trading for this nationwide enterprise competition, Tycoon in Schools.

Over 2,000 schoolchildren are taking part across the country and for the first time, the competition has expanded into primary schools.

More than 100 teams of children as young as five will be starting their own business and trading between Tuesday 1st November and Friday 16th December.

Underpinned by Peter’s mission to put enterprise at the heart of the education system, the competition has grown by a staggering 300% since it was launched in 2012.

Peter Jones CBE said: “I am thrilled that Tycoon in Schools, now in its fifth year, has officially expanded to include teams of children from Primary Schools across the country who will experience their first taste of enterprise.

“Every year, I am hugely impressed by the innovative and creative business ideas we receive from students – it reinforces that we should never underestimate the ambition and potential of our young people.”

This year, over 300 teams have been hand-selected to receive funding and kick-start their businesses. The quirky business ideas from across primary and secondary school teams range from upcycling businesses to the provision of film nights and e-sports tournaments.

Schools involved span the length and breadth of the UK, including a team from Argyll, Scotland who are creating bespoke, Scottish-themed calendars to a team from Saint Saviour, Jersey, who have designed customised bath bombs.

Tycoon in Schools began as part of his campaign to foster a start-up culture through encouraging and supporting enterprise education in the UK. Since the competition launched, over 1,250 new businesses have been created by young people with thousands benefiting from over a quarter of a million pounds in Tycoon in Schools start-up loans.

The impact in encouraging the nation’s young people into entrepreneurship is clear to see, and according to a survey of students that took part in the initiative last year, 70% feel that taking part in Tycoon in Schools has made them want to start their own business in the future.

Mr. Jones added: “I am very excited to see these businesses come to fruition and wish all students participating across the country the very best of luck. Watch this space – we could have the next global business tycoon in the making!”