Britain’s biggest nationwide enterprise competition for young teenagers has just re-launched. The Tenner scheme, which gives young people £10 to do something enterprising, make a difference and give back, will be run by Young Enterprise, the country’s largest enterprise education charity.

Tenner is designed to promote business thinking and action to create community improvements in schools. Young teenagers are encouraged to pursue their entrepreneurial, money-making and socially-aware instincts in virtually any direction, starting with a humble ten pound note.

The competition, being run this year with the help of social enterprise agency UnLtd, has produced many young enterprising stars since its inception in 2007 and this year promises to be no different. Some of Britain’s most successful entrepreneurs have been quick to lend their support and offer encouragement to the next generation.

Virgin founder Sir Richard Branson has recorded a video telling his own story of building a fledgling business empire by selling from a phone box with a pile of pennies, and shared his own tips on how to make money using a tenner with those taking part this year.

Meanwhile Richard Reed, of Innocent Drinks, has helped to launch this year’s scheme with the support of young people from St. Joseph’s school in Brent. Richard said: “If I took a ten pound loan, I’d go out and buy £10 worth of fruit and I’d crush it, squeeze it and turn it into juice and smoothies and sell those smoothies for £20 and go back and buy even more fruit and squeeze it and make even more juices and more smoothies and sell the £20 for £40. It’s exactly how we started our juice business and I bet Tenner participants can do it too.”

Michael Mercieca, Chief Executive, Young Enterprise said: “Young Enterprise is delighted to be launching such an exciting scheme. Tenner’s competition strapline, ‘It’s in your hands’, really encapsulates our philosophy to give young people a chance to explore their entrepreneurial instincts and desire for community improvements in any direction they choose. We expect this year’s Tenner scheme to be bigger and better than ever before and look forward to seeing some of the ingenious money making methods chosen by participants.”

Registration is now open and will close on 1 April, with the competition running throughout the month of May. Many thousands of ten pound notes will be circulated to schools across the country on 1 May and updates on the progress of entrants will be available on the Tenner website. Regional and national winners will be announced at the close of the competition.

For more information, please visit www.tenner.org.uk [1], or contact: Paul Eastham, Head of Communications, Young Enterprise. T: 020 7549 1980. M: 07713 393 594. E: paul.eastham@y-e.org.uk [2], or Kate Corry, Press Officer, Young Enterprise. T: 020 7549 1980. M: 07909 990 531. E: kate.corry@y-e.org.uk [3].