PUPILS will become entrepreneurs this month as they aim to turn a profit from £5.

As part of The Enterprise Project, youngsters from Colindale Primary School, in Poolsford Road, have set up their own businesses and will be competing against one another at an event at the school on Friday, November 26.

The project was open to the whole school and 12 lucky pupils were chosen by deputy head teacher, Philippa Kunick.

Miss Kunick, who has been at the school for five years, contacted companies in the area to sponsor the children.

Waitrose supermarket, in Brent Cross, offered to fund each child with £5. The children, aged between seven and 11, were then given the challenge to come up with their own business ideas, using the money to turn a profit.

One girl will open a tuck shop after persuading a sweet shop to sell her some of its stock at a discounted price.

Another group will set up a lucky dip stall, charging 50p a go and giving away prizes they purchased for a minimum fee from Waitrose.

Since September the students have met every Wednesday afternoon and have received help and support from Hitesh Patel, personnel manager of Waitrose in Brent Cross.

Miss Kunick said: “There has already been a huge success with the project in terms of what the children have learnt.

“For instance, they have been using business vocabulary they wouldn’t normally use, have been taking part in real life experiences, communicating with adults and working to deadlines.”

The students are supposed to pay back their £5 to Waitrose after the event but have the incentive that any small profits made can be kept as pocket money or donated to charity. The children will showcase their businesses at an event open to the whole community on Friday, November 26, from 3.30pm to 5.30pm.