Page 23 - LION YEAR MAG 2017_FS_R_Neat

walking Mark Turner

years e v e n

gorge

the

national tenner challenge

awards
getting

very
16 year old student, Rachna, who set up a business as part of the National Tenner Challenge, run by Young
Enterprise and supported by BGF (Business Growth Fund) has won the Most Inspiring Individual 15 – 19
wet!
years award for her company SDC Uganda enterprise. Students were given £10 and four weeks to set up a
business and make as much profit as they could. This year almost 20,000 students took part. The winners,
kayaking Business Growth Fund (BGF) and Mishcon de Reya. SDC Uganda enterprise sold Ugandan coffee roasted at a
including Bottled Light, were announced in an awards ceremony on 2nd May, held at The Bank of England.
The awards saw students tour the Bank of England Museum, hear from young entrepreneur and investor Ben
Towers, and Chief Cashier at the Bank of England, Victoria Cleland, and receive awards from judges from

plant local to St. David’s College. The ethically sourced coffee benefits the women from south-west Uganda, who
grow and harvest the beans. All the profits will go to children who have dyslexia.

The Tenner Challenge 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. Rachna from SDC Uganda enterprise, said: “Starting up a business is not as easy as it looks
as it involves several steps including sales, finance, production and marketing.”

Michael Mercieca, Young Enterprise Chief Executive, said: “Tenner is an interactive and fun way for students
caving
to learn about running a business and develop key employability skills. Every year the Tenner Challenge has a
beach worked with Young Enterprise to deliver Tenner again. This year we’ve seen thousands of students develop key
real impact on young people’s employability skills and helps students fulfil their full potential.” 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 have

the employability skills and create innovative businesses.”

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 are asked
out a n d a b o u t on 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
fun
22