Everything there is to know about Tenner
Tenner Challenge is Young Enterprise’s FREE national challenge for secondary schools.
Tenner Challenge provides a highly interactive way for students to develop key skills including creativity, resilience, and problem solving, using real money to take calculated risks in business. Students (11-19years) are pledged £10 and have one month to set up a business – coming up with an idea of a product or service they can sell and gain first-hand experience of what it’s like to be an entrepreneur.
What are the key dates for Tenner?
Monday 13th November
12 February - 16 March 2018
Tenner Challenge takes place
23 February, 02, 09, 16 March 2018
23 March 2018
National Competition entry deadline
Winners invited to awards
How it works
Step 1 - Here's a Tenner!
Each business is pledged £10 from the Tenner Bank by 12th February 2018.
Step 2 - Get started
They use this start-up capital to get their business off the ground, working individually or in a group.
Young Enterprise can help kick start your Tenner Challenge by running a half day masterclass for your participants. Find out more about the Tenner Challenge + or contact us to book one for your school. The Masterclass does have an associated cost of £300 for a typical class size.
Step 3 - Keep it going
Young people have 4 weeks to make as much profit as they can from their tenner. There are weekly competitions to keep them engaged and motivated.
Step 4 - Keep the profits
Participants are in full control of the profits they have earned and should decide themselves what they would like to spend them on - for example, they may wish to donate their profit to charity a local cause or resources for school or a day out.
Step 5 - Payback for the future
At the end of Tenner, participants have an opportunity to enter a National Competition and are required to repay their £10 plus a suggested £1 legacy donation so even more young people can participate in the Challenge next year.
Tenner Challenge Competitions
Throughout the Challenge there will be weekly competitions to keep students excited, engaged and motivated. These are simple to enter and aim to showcase the hard work that students are doing throughout the Challenge.
The weekly competitions are linked to stages of the business set-up and require an upload of document, image or video clip.
23 February - Logo Design
02 March - Sales Pitch
09 March - Marketing
16 March -Pop up shop
For this reason, it is essential we are given permission to use images of students on our website. If we do not have this permission, students will not be able to enter all the competitions.
The final National competition will be based on the completing a logbook. While we hope that all students will seek to enter this final competition, please note up to three logbooks per registration can be selected to take part in the National final. Teachers/supervisors are asked to shortlist from all their groups.
Our Judges will review these logbooks and choose the winners according to judging criteria including innovation, individual or teamwork and impact within their local community.
There will be an Awards Celebration Ceremony in May 2018 for all winning students and teachers. Winners will be notified in April so that travel and permission can be arranged.
There are two age categories for the competition:
- 11–14 years
- 15–19 years
and five awards in each category:
- Most Inspiring Individual
- Best Group
- Most Profitable Business Idea
- Greatest Community Impact
The Leap Potential Award (sponsored by Mishcon de Reya)
What happens now?
- Organisations register on this site to participate in the Challenge
- ‘Welcome’ email sent to registered organisation
- Organisation returns payment form
- ‘Important details’ email sent to organisation to confirm registration and login details for unique web account page
- Organisations login to their unique web account page
- Organisations share instructions with their students so they can register their teams
- Young Enterprise will issue the funds to the organisation from the Tenner Bank prior to 12 February 18
An email notification will be sent to the organisation to confirming payment has been made
History of Tenner
‘Make your Mark’, ‘Tenner Tycoon’, ‘Make your Mark with a Tenner’ and now simply ‘Tenner’. Different names, same idea!
Enterprise UK founded ‘Make Your Mark with a Tenner’ in 2007 and ran successful challenges until 2011. The winding down of Enterprise UK was the perfect opportunity for Young Enterprise – the UK's largest enterprise education charity – to get involved with this great competition. In November 2012, it was confirmed that Young Enterprise would be running Tenner and we held our first Challenge in May 2013.
In March 2017 we ran our fifth Challenge with almost 20,000 young people registering to take part. On average, 4 out of 5 teachers agree that Tenner benefitted students across all eight employability competencies.
After taking part teachers and young people were asked abouth their experience:
89% of teachers agree Tenner supports Ofsted requirements by providing contextual learning within Financial Mathematics and English 91% of teachers agreed that Tenner improved young people’s confidence. 89% of teachers agreed Tenner enables young people to give something back to their school and their community. 83% of young people felt they had improved at least one employability competency 78% of young people agreed that Tenner helped them explore a range or roles and responsibilitie
To find out more about the impact of Tenner in 2017 read our evaluation report here.
2015 celebrated a new partnership with the Business Growth Fund who will be supporting Tenner. BGF (Business Growth Fund), established in 2011, supports Britain’s entrepreneurial businesses. They provide support, advice and money to companies they invest in, including manufacturers, retailers, technology companies, restaurants and more.