The Tenner Challenge provides a highly interactive way for students to develop key skills including creativity, resilience, and problem solving, using real money to take calculated risks in business. The tenner Challenge runs from mid-February to mid-March each year with registration open online the prior November.
Students are pledged £10 and have one month to set up a business – coming up with an idea of a product or service they can sell and gain first-hand experience of what it’s like to be an entrepreneur.
The Tenner Challenge is not only about creating a business, but it is also about giving back to society.
The process:
- Here’s a Tenner! Each young person registered is pledged £10 from the Tenner Bank.
- Get started - Participants use this start-up capital to get their business off the ground, working alone or in a group.
- Keep it going - Young people have four weeks to make as much profit as they can from their Tenner while also aiming to create a social impact. There’ll be weekly competitions to keep them engaged, incentivised and motivated.
- Keep the profit - Participants are in full control of any profit they make and decide what to spend this on, for example a day out, resources or activities for school, or they might donate their profit to charity.
- Payback for the future - At the end of Tenner participants enter the National Competition and pay back their £10 pledge plus a £1 legacy donation to enable Young Enterprise to support even more young people next year.
Throughout the Challenge there will be weekly competitions to keep students excited, engaged and motivated. These are simple to enter and aim to showcase all the hard work that students are doing. The weekly competitions are linked to stages of the business set-up and only require an upload of document, image or video clip.
The Tenner Challenge is suitable for delivery in secondary schools, youth organisations and colleges for young people aged 11 to 19. Teams should be registed by a teacher, lecturer or Youth Worker.
To make an enquiry - please complete our enquiry form HERE