Tenner Tycoon competition launches to encourage enterprise in schools

Peter Jones unveils £400,000 enterprise challenge

The UK’s largest enterprise competition, Tenner Tycoon, has been launched today with the support of Dragons’ Den star Peter Jones, to promote enterprise education in schools.

Up to 40,000 schoolchildren up to the age of 19 will have access to £10 from the Tenner Bank, enabling them to set up their own enterprise. They will have one month to use this money to make a profit and also make a difference in their community, either by using profits to help the local community or by donating them to charity.

Peter Jones, whose charitable foundation is supporting the scheme, said: “Tenner Tycoon challenges young people to aspire to be a successful entrepreneur. It provides an opportunity to experience business and enterprise first-hand and learn about being an entrepreneur.”

The initiative comes as youth unemployment hit its highest level in a generation – with one in five 16 to 24 year-olds currently out of work.

Tom Bewick, chief executive of Enterprise UK, which is driving the programme, commented: “We know from experience that this campaign can inspire thousands of kids to start their own businesses. This year it is arguably more important than ever, given the latest concerning statistics which put youth unemployment at 20.5%, the highest figure since records began in 1992.”

Following the initiative, the participants will have the chance to win Tenner Tycoon Awards, which aim to celebrate their success and their contributions to their local community.

© Crimson Business Ltd. 2011


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