The 2017 Young Enterprise Tenner challenge has already got off to a great start as children up and down the country have entered to compete in this fantastic, unique competition.
Young Enterprise and the tenner challenge
The challenge has been set up by Young Enterprise, a UK charity for developing young people when it comes to business. The charity has been around since 1962 and has helped thousands of young people realise their goals, unlock their potential and become a business success.
This is the second year the charity has run the Tenner Challenge. Winners in last year's challenge included Highest Profit winners, Little Poppies of Avonbourne College, who invested their £10 to make over £5,000 in just a month! The team sold handmade greeting cards containing a pack of poppy seeds.
How it works
Once registration is complete, all entrants will receive their £10 loan. They have a month to turn the money into a profit and along the way can win weekly prizes - such as Best Logo. Teams or individuals enter as part of their school. At the end, each school can pick up to three candidates to go to the final, and the final winners are picked by a team of judges. There are four winning categories within the 11-14 and 15-19 age categories including Greatest Social Impact, Highest Profit, Best Group and Most Inspiring Individual.
Entrants are encouraged to think about people and the planet when they come up with their concept and are also encouraged to donate profits to charity, after they have repaid their £10.
The challenge takes place from 27th February to 24th March with winners announced in May.
This competition gives youngsters the chance to become real entrepreneurs and to think about what is entailed in starting a successful business and the importance of social responsibility.
This is something that The Royall Wealth Club wholeheartedly supports as it encourages imaginative wealth generation as well as helping budding entrepreneurs.
Watch out for future collaboration between The Royall Wealth Club and Young Enterprise.