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Start your own classroom business

This lesson introduces pupils to the concepts of entrepreneurship, profit, and taxing. Pupils participate in a role-play activity where they set up their own classroom business, sell and buy services and goods with mock money, keep record of transactions, and learn how to manage expenses and profits. After setting up their own classroom business, pupils have to try to sell their goods or services to their peers and keep record of each transaction they made. Additionally, they have to complete several math assignments related to the type of business they set up and pay taxes. By actively involving pupils in the processes of buying, selling, and record keeping throughout their time in school, they are able to increase their knowledge and develop their skills in the area of entrepreneurship.