We have 23 Year 9 students who have been given the opportunity to take part in the 2016 Tenner Challenge, a Business and Enterprise Competition which runs nationally with Young Enterprise.
After last year’s success, there was a great response from the year group, with applications in from 21 teams. Teams applied by putting forward ideas with a business plan, all of which were very impressive. Students were given the chance to think of a business idea and how to make it happen, by using real money. They also needed to think about how to make a profit and make a difference.
It was very hard to judge but only four teams could be chosen to go through. Each team received a start-up loan of £40 and have a charity for which they will be giving 50% of their profits to. They may then choose to spend the remaining profit on a team activity, divide it or re-invest it to make a further social impact.
The Challenge takes place over two weeks: 29th February – 10th March, and each team has been given a designated day per week to sell in school. Throughout the challenge, students also have weekly challenges to complete, and they all took part in a training morning to prepare them for some of the fundamental areas they should focus on when starting up a business. Each team has done a fantastic job on marketing and advertising, and were great when giving their sales pitches to Lower Site students.
Week One ended on a high, with lots of money raised and an update along with the final total of each team will take place at the end the of Week two and will be shared.