A new enterprise competition,Tenner Tycoon, has been launched today, with 40,000 children signed up for a major schools campaign to 'make money, make a difference and give back'.
The competition is based on Dragons' Den star Peter Jones’ international bestseller ‘Tycoon’, which aims to promote enterprise education in schools.

How the competition works

Up to 40,000 schoolchildren up to the age of 19 will have access to £10 from the Tenner Bank, which will enable them to set up their own enterprise.
The school-age entrepreneurs will have one month to use their initial £10 capital to make a profit and make a difference in their community.
A £400,000 Tenner Bank has been made available to schools, colleges and youth groups across the country. Teachers will hand out £10 notes to schoolchildren who registered online earlier this year.
On 31st March the schoolchildren will return the £10 and decide what they want to do with the profits they have made.
They will also have a chance to win Tenner Tycoon Awards, which aim to celebrate their success and their contributions to their local communities.
Throughout the month students will be able to access information at www.tenner-tycoon.org [1].

The concept behind Tenner Tycoon

Peter Jones, whose charitable foundation is supporting Tenner Tycoon, said: “Tenner Tycoon challenges young people to aspire to be a successful entrepreneur. It provides an opportunity to experience business and enterprise firsthand and learn about being an entrepreneur.
“The Peter Jones Foundation is proud to support Tenner Tycoon which this year will champion a new generation of tycoons who are motivated to improve society as well as make a profit.”
The competition aims to drive the creation of a new generation of entrepreneurs who will be inspired to take action and play their part in the ‘enterprise-led recovery’.
It also encourages schoolchildren to ‘give something back’ and use their profits to help their local community or donate them to charity.
Tom Bewick, CEO of Enterprise UK, which is driving the initiative, said: “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 per cent, the highest figure since records began in 1992.”