Tenner Challenge

What would you do with £10? Tenner is Young Enterprise’s free national challenge for 11-19 year olds

Target age group: 11 – 19
Key stage: 3, 4 and 5
Group size: flexible; individuals, class or year group
Length: Up to 4 weeks

Tenner Challenge helps young people develop key skills including teamwork, resilience, problem solving and financial capability through using real money to take calculated risks in business. Students are pledged £10 from the Tenner Bank and have 1 month to set up a business – coming up with an idea of a product or service they can sell. This programme gives them the experience of what it feels like to be an entrepreneur.

How it works

  • Here’s a Tenner! Each young person is registered £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
  • Keep the profit. Participants are in full control of any profit they make and decide what to spend this on
  • Payback for the future. At the end of Tenner participants enter the National Challenge and pay back their £10 pledge plus a £1 legacy donation

Young Enterprise can help kick start your Tenner Challenge by running a half day Masterclass for your participants. Find out more about the Tenner Challenge Launch Masterclass.

Why choose this programme?

  • Students will gain a greater self awareness to recognise personal strengths and what can be offered to a future employer
  • Insight into how businesses are structured and the different roles and career opportunities that exist
  • Financial mathematics in a real life context
  • Understanding of self-employment/entrepreneurship as a career option
  • Understanding of how businesses can act as social enterprises and pay back to the community
  • Insight into the careers of local volunteer employees and the skills which are valued in the workplace
  • Provides students with practical experience of running a business and can be used as a stepping stone before progressing to Company or Team Programme

Key features:

  • Access to online support materials including ideas and inspiration, activities, case studies and guidance
  • Weekly competitions and a national competition
  • Access for you and your students to an online logbook to track progress
  • Online step-by-step guidance and resources to support teachers and students with ideas, inspiration and motivation

Supports the school curriculum in the following areas:

  • Helps to provide a broad and balanced curriculum that prepares students for life as active citizens and supports PSHE
  • Financial mathematics in a real life context
  • Contributes to a stable careers guidance programme

Supports the Welsh curriculum:

  • Helps students explore the role of enterprise and developing entrepreneurialism – contributing to the Careers and World of Work framework
  • Inspires and motivates participants for the world of work and adult life – supporting the Enterprise and Employability Challenge element of  the Welsh Baccalaureate

View further information on how this programme supports good career guidance, employability and enterprise education.

 

Want to know more?

Registrations will open at the end of November 2016 with the Challenge taking place in February – March 2017. Find out more about Tenner on the Tenner Challenge website: www.tenner.org.uk

90% of teachers agreed that Tenner increased participants’ financial knowledge
87% participants would recommend Tenner to friends
83% participants felt that Tenner gave them a unique opportunity to achieve new things

 

Tenner is supported by BGF (Business Growth Fund) who will be supporting Tenner for the next three years. Find out more here.

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