50 secondary students are taking part in the Tenner Challenge, a national competition which pledges students £10 of start-up capital to create their own sustainable businesses. The Tenner is not only about creating a business but it is also about giving back to society. What better way to showcase this than with a competition? Tenner gives students a chance to think of a new business idea and make it happen, using real money to take calculated risks in the business field, make a profit – and make a difference. During trade week teams will compete with each other to make the most profit whilst trying to make a social impact. There are four awards in each category (Y7-10 and Y11):
- Most Inspiring Individual
- Best Group
- Most Profitable Business Idea
- Greatest Social Impact - People, Planet and Profit.
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 image or video clip.
26 February – Logo Design
4 March – Sales Pitch
11 March - Advertisement
18 March – Trade Stand
The final competition will be based on the completed logbooks. Only three logbooks per school can be entered to the national final. Miss Sullivan, Miss Scott and Miss Newman will shortlist from all the groups and submit the best three.
Judges from the business world will look at the logbooks and choose the winners according to criteria including innovation, journey travelled and social conscience.
There will be an Awards Celebration Ceremony in May for all winning students and teachers. Winners will be notified in April so that travel and permissions can be arranged.
Participants are in full control of the profits they earn and should decide themselves what they would like to spend them on - for example, a day out, resources or activities for school, or they may wish to donate their profit to charity. At the end of Tenner, participants enter the National Competition and pay back their £10 plus a suggested £1 legacy donation so more young people can participate in the Challenge next year.
GOOD LUCK TENNER TEAMS!
Posted on 11th March 2016