Some exciting news! pfeg is set to merge into Young Enterprise

pfeg (Personal Finance Education Group), the leading financial education charity, is set to merge in to Young Enterprise, the UK’s largest enterprise education charity.

 

The proposed merger is part of ambitious plans to benefit thousands more young people across the country, coming as enterprise education is pushed higher up the Government’s agenda following the publication of Lord Young’s Enterprise for All report, and financial education joins the National Curriculum for secondary schools in England in September.

 

The proposal has been welcomed by Lord Young, Enterprise Adviser to the Prime Minister.  Lord Young said: “It has never been more important to ensure that all young people gain the skills they need to achieve their aspirations.  Both Young Enterprise and pfeg have an excellent track record in improving the skills of young people in this country – and their merger will enable them to make an even bigger contribution towards that goal.  I wish them every success in their new joint venture.”

 

Each year Young Enterprise works with 250,000 young people, enabling them to develop key skills for the future through enterprise, while pfeg provides free resources, advice and support to thousands of teachers helping to give young people the skills, knowledge and confidence they need to manage their money well. 

 

The two charities began discussing potential synergies in their work for young people last year.  The merger was approved in principle by both organisations’ Boards of Trustees last week and is planned, subject to agreement of contractual terms, for completion in September. It will see Young Enterprise offer pfeg-branded financial education programmes and services. The aim is to create an efficient, specialist ‘one stop shop’ for students and teachers, providing them with engaging and relevant teaching to equip them for work and life.

 

Michael Mercieca, chief executive of Young Enterprise, said: “By combining our range of programmes and services to schools and other educational settings, together Young Enterprise and pfeg will support more teachers with high quality resources, advice and support, link more businesses with education and ultimately benefit many more young people across the UK.  The whole will be far greater than the sum of its parts.” 

 

Tracey Bleakley, chief executive of pfeg (Personal Finance Education Group) said: “Financial education and enterprise education have long been close cousins, and by bringing together our organisations’ complementary strengths and expertise, we can make a much bigger difference to young people’s futures.  The whole team is extremely excited to be merging with Young Enterprise and looks forward to working with them to benefit even more young people.”

 

Financial education joins the National Curriculum for secondary schools in England in September, following years of campaigning by pfeg, the All Party Parliamentary Group on Financial Education for Young People and MoneySavingExpert.com’s Martin Lewis.  The move will see financial mathematics taught in secondary mathematics and other aspects of financial capability taught in Citizenship education, and marks the first time that financial education will be statutory in all four countries in the UK. 

 

Enterprise education received a significant boost last month following the publication of Lord Young’s Enterprise for All report, commissioned by the Prime Minister, which recommended a dramatic expansion of enterprise education in the UK, including through the Fiver Challenge run by Young Enterprise.

 

The organisation will be overseen by the chief executive of Young Enterprise, Michael Mercieca.  All members of pfeg staff will move over to Young Enterprise with the exception of chief executive Tracey Bleakley, who will be leaving in Autumn to take up the position of chief executive of the Association of Police and Crime Commissioners.

 

Find out more about Young Enterprise at www.young-enterprise.org.uk

 

Are you a journalist interested in this story?  Contact pfeg’s Matt Hartley on 020 7330 9478 or 07730 141519, or email matt.hartley@pfeg.org