Some Frequently Asked Questions about the Tenner Challenge
Tenner from Home is an adapted version of the Tenner Challenge that allows students to imagine what business they could create with just a £10 note.
This is a mini home-based project which aims to inspire secondary age young people to actively learn, develop and grow their entrepreneurial skills.
It will not involve any trading of products but will focus on all the preceding stages – initial concept ideas, market research, logo development, business planning and a sales pitch.
Who can take part in the Tenner Challenge?
Any young person from age of 11 - 19 years can take part, all participants will need an organisation/adult to register on their behalf for the Challenge. New this year, students in Higher Education aged 18+ can also take part.
When does the Challenge run in 2020?
The challenge will run from Monday 24 Feb - Friday 20th March
Can participants work on their own as well as in a team?
Yes, absolutely! You are welcome to take part in the Tenner Challenge as an individual or as part of a group.
We suggest teams of between two and eight participants - more than eight participants in a group can sometimes leave students feeling disengaged within the group.
What is the difference between self-funding and requesting funding?
During the registration process you will be asked if you wish to self-fund or submit a request for Tenner funds:
- Self-funding means that your organisation will provide the tenners for your students to use at the start of the Challenge.
- Requesting funds means that you will complete an easy online form specifying how much you are requesting from the Tenner Challenge Bank.
- You'll be notified within 48 hours if your request has been successful, funding is limited so apply early!
How much funding can be applied for?
A minimum of £50 and a maximum of £500 of Tenner funding is available per registration.
You can decide how these funds are shared amongst participants; you could choose to offer £10 per student or £10 per student company.
How are requests for funding assessed?
Tenner Challenge funds are limited and requests are assessed on a first-come, first-served basis.
Can funds be "topped-up"?
If you're successful in applying for funding for the Tenner Challenge but require more than the maximum (£500 per registration) your organisation will need to self-fund any additional funding required.
How are funds from Young Enterprise received?
If you are successful with your application for funds, they will be transferred across to you just before the Challenge begins. We will send you a confirmation of when the electronic transfer will be sent, this will be received via your nominated bank account. This money will need to be given to your participants.
How long will students have to make a profit with the money they are pledged?
Participants are challenged to make as much profit as possible during the four weeks of the Challenge.
How do students receive their tenners?
You will be responsible for distribution of the tenners to the participants and all supervision of the activities in relation to the Challenge. You must not distribute any funds prior to the Tenner Challenge commencing on Monday 24th February 2020.
Will students have to repay the tenners?
Yes, and if the participants make a profit they are asked to donate a further £1 per £10 pledged (Legacy contribution) to help us to sustain the Tenner Challenge Bank.
What if students cannot repay the tenners?
If participants are unable to repay the full tenner, then they should at least return £8. Your organisation will be responsible for collecting the pledge and the legacy donation from the participants upon completion of the Challenge. For further information please view the full Tenner Challenge Terms and Conditions.
What happens with the profits made from the tenners?
It is up to your students to decide how they would like to donate or spend their profits.
Many teams will choose to donate all or part of their profits to local and national charities, or to a local cause within their community or school.
What support is available during the Challenge?
The Tenner Team are dedicated to supporting you throughout the Challenge. If you need any help at any stage you can contact the team directly by emailing email@example.com or calling 01865 776 845.
Are there resources available to help prepare for the Challenge?
There many resources available online to help you to plan and run Tenner as soon as you have confirmed your participation in the Challenge. These resources are available within a Tenner schools online platform - you will receive a unique link upon registration.
Is there any local support from Young Enterprise available to introduce the Challenge to our students?
Young Enterprise can help kick-start your Tenner Challenge by running a half-day masterclass for your students at your organisation. For more information please contact us: firstname.lastname@example.org.
Please note that details of Weekly Competitions and the National Tenner Challenge Competition can be found on The Challenge webpage.
How are the entries for competitions be shortlisted?
Entries will be short listed by an internal Young Enterprise panel, and an external panel of judges decide on the winners for each category from the shortlist.
How many competition entries can be submitted per organisation?
Each organisation can submit a maximum of five entries.
How are competition entries submitted?
All competition entries will need to be uploaded via the online platform. Full details and instructions will be available online in the Tenner schools platform.
What is available on Tenner online ?
This platform will guide you through the four weeks of the Challenge; providing unique access to resources that will support you with your preparation in advance and during the Tenner Challenge.
How can I access this platform?
Once an organisation has registered they will be sent a unique URL and log in details for the platform. A link for students to use to create accounts will also be provided.
How do students access the platform?
Teachers will receive a URL that needs to be shared with all students who wish to participate in the Challenge. When students use this unique URL they will be asked to set up an account and set up their student Tenner team or as an individual.
Once they've set up their account they will be able to log in and access all the Tenner resources. We do ask them to complete a short post challenge questionnaire, allowing them to track their individual progress throughout the Challenge.
How much time each week do we need to set aside for the Tenner Challenge? If you can run the Challenge within your school curriculum timetable that is great however we know this is not always possible! We'd recommend you set aside at least one hour a week - this can take place at lunchtimes or after school. Some students may even decide to continue developing their ideas and getting their products ready in their own time too.
I want my students to get involved in running the Challenge?
Where possible do encourage your students to make all the decisions about their ideas. We provide a student area on the website where your students can access all the resources and information they will need. It's an excellent way for them to gain first-hand experience of what it’s like to be an entrepreneur and will help them develop the skills they need in life and work to prepare for their future.
Can students work on their own as well as in a team?
Yes, absolutely! Students are welcome to take part in the Tenner Challenge as an individual or as part of a Tenner team.
Find out more details about the Tenner Challenge in 'Terms and Conditions'