Teaching kids how to handle money is a powerful life skill, but teaching them how to earn money? That’s something truly empowering. One of the most exciting ways to do this is to help your child start a business—even with just £10. Yes, it’s possible! In this article, we’ll walk you through exactly how kids can start a business with £10, with simple steps covering market research, budgeting, pricing, and basic marketing. Whether your child is 8 or 13, this guide will spark entrepreneurial thinking and real-world money smarts.
Why Starting Small Matters
Many adults assume that starting a business requires a big investment, but the truth is, kids don’t need much to begin. In fact, limiting the budget to £10 teaches creativity, problem-solving, and resourcefulness. It encourages children to think carefully about costs, customer needs, and the value of their time and effort. Most importantly, it keeps things low-risk and fun!
Step 1: Find the Right Business Idea
The first step is choosing a simple business idea that matches your child’s interests and skills. Ask them:
- What do you enjoy doing?
- What are you good at?
- What do people often ask you for help with?
Some low-cost ideas under £10 include:
- Selling handmade bracelets or crafts
- Dog walking or pet-sitting
- Washing cars or bikes
- Baking and selling cookies or brownies
- Running a plant-watering service for neighbours
- Creating and selling simple bookmarks or cards
Encourage your child to write down their ideas and choose one that feels exciting and manageable.
Step 2: Do a Bit of Market Research
Even a 10-year-old can do market research—just ask questions! Who would buy this? What would they be willing to pay? Is anyone else already offering it? A great way to start is by talking to family, friends, or neighbours. This helps children learn how to identify a need and offer a solution. It also builds confidence in talking about their idea.
Step 3: Make a £10 Budget Plan
This is where the learning really begins. Sit down with your child and write out everything they might need to buy to get started.
For example:
- Ingredients or materials (£6) – break this one down!
- Packaging (£2)
- Advertising/making flyers (£2)
Ask: “What do you already have at home that you can use?”
Can they borrow tools, use leftover craft supplies, or do digital marketing for free? This step teaches them how to prioritise and stretch their budget.
Step 4: Decide on Pricing
Next, help your child figure out how much to charge. Start by working out how much each product or service costs to make or provide.
Then ask:
- How much profit would you like to make?
- What will your customers be happy to pay?
- Are you offering something special or different?
Even at a young age, this helps children understand value, profit, and fairness.
Step 5: Tell People About It (Simple Marketing)
Your child doesn’t need a website or big ad campaign. They just need to share their business with the right people. They can:
- Create a flyer to hand out locally
- Ask friends and family to spread the word
- Use your social media account to post about their offer
- Offer a “first customer” discount or special deal
Marketing teaches confidence, communication, and persistence—essential skills for any young entrepreneur. Marketing can start even before your child created the product.
Step 6: Start Small, Reflect, and Grow
Once the business launches, encourage your child to reflect after their first few “sales.” What worked well? What was harder than expected? How could they improve? Keep the pressure low—it’s about learning, not perfect performance.
Even if the business isn’t a big success, the experience of planning, launching, and managing something from scratch is priceless.
Final Thoughts
Helping your child start a business with £10 may seem like a small idea, but it opens the door to big life lessons. They’ll learn how to plan, communicate, manage money, and believe in their abilities—all while having fun. If you’re a parent, carer, or teacher looking to build financial confidence and entrepreneurial spirit in kids, this kind of mini-business is a perfect place to start.
Want more like this?
Check out our full Smart Money for Kids course at smartkidseducation.org for hands-on lessons, activities, and videos that make financial literacy feel like a game.
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