Tenner Challenge National Success

24th May 2018

 

 

Students from St Christopher's, who set up a business as part of the National Tenner Challenge, run by Young Enterprise and supported by BGF (Business Growth Fund) have won the Best Group award for their company, 'Whiteworth'.

Students were given £10 and four weeks to set up a business and make as much profit as they could and this year, 27179 students took part. The winners, including 'Whiteworth', were announced at the awards ceremony on the 9th May, held at The Bank of England.

The winning team's teacher, Michael Coop Rushworth said "With Tenner, our students have been given experience in real world contexts - they have learned more than just the curriculum taught in a lesson - they have gained confidence, self-management skills, team working skills, and determination to succeed."

The Tenner Programme gives students an opportunity to develop key employability skills and develop a better understanding of the connection between what they learn in school and how they can apply that learning in the world of work. 84% of teachers were attracted to the Tenner Challenge for the 'real experience' it offers to young people.

Students have a business idea and use this start-up capital to make it happen, using real money to take calculated risks to gain first-hand business experience of what it's like to be an entrepreneur. At the end of the month, participants asked to return their £10 pledges with a £1 legacy donation to enable Young Enterprise to support even more people the following year. Students are free to keep their remaining profits, which many donate to a charity of their choice.

Michael Mercieca, Young Enterprise Chief Executive, said:

"The Tenner programme is critical for driving entrepreneurship among young people. Every year, we hear new stories come about from all different walks of life. The challenge has a real impact on the young people's employability skills and will help to encourage students to reach their full potential."

Victoria Cleland, Chief Cashier and Director of Bank Notes, Bank of England said:

"The Tenner Challenge provides a fantastic opportunity to develop key life and career skills such as teamwork, financial management, an understanding of the environment in which one is operating and crucially the effort needed to turn ideas into reality. I was impressed by the each of teams' innovation and determination."

Stephen Welton, CEO of BGF, said:

"The Tenner Challenge promotes employability skills and introduces young people to the idea of entrepreneurship, encouraging them to think creatively about how they could make a profit. BGF is delighted to be working with Young Enterprise to deliver Tenner again and we're looking forward to seeing students develop key employability skills and create innovative businesses."

Well done to Helana White and Julia Woodworth, the brains behind 'Whiteworth' on this magnificent triumph!

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