Youth of Britain Inspired by Tenner Scheme

The Tenner Challenge is for young people who want to get a taste of what it’s like to be an entrepreneur.

Online PR News – 11-March-2013 – Coventry/England – With youth unemployment at a high of 1.1 million the future looks bleak for many school children. University fees are rising and there doesn’t seem to be many options for school leavers, especially those from less privileged backgrounds. However The Tenner Challenge aims to give hope to demotivated pupils with low expectations and with Richard Branson as a spokesperson the scheme is set to be a big success.

The Tenner Challenge was launched this morning at President Kennedy School in an under privileged area of Coventry. The scheme is an innovative idea which introduces school children to the idea of enterprise and entrepreneurship, something which many of them may never have heard of before.

The Tenner Challenge is for young people who want to get a taste of what it’s like to be an entrepreneur. Students are given £10 from the Tenner Bank, they use this to get their business off the ground. They have the whole month to make as much profit as they can from their tenner while also trying to make a difference and give back to society.

President Kennedy is the first school in the UK to launch The Tenner Challenge and its setting the pace for the rest of the nation. Coventry was hit hard during the recession and the city currently has one in every five 18-24 year olds not in work or training so if The Tenner challenge can gear up the youth of Coventry to make a difference then it will bring hope to other cities and schools.

Young entrepreneur and successful business founder Adam Taylor spoke to the students about his experiences setting up a business He did the young enterprise programme whilst he was at school which motivated and inspired him. Adams father lost his job whilst Adam was studying at Warwick University and he had to learn quickly how to pay for his own university fees. He used his own initiative to set up businesses.

As hopes of going to University are becoming less achievable for many pupils it is essential for them to be open to new ideas and enterprise is exactly the sort of thing that young people should be considering.

Adams inspirational speech encouraged the students and showed them that anyone can create a business as long as they are motivated. His company PetShopBowl came from a simple idea, he saw that ecommerce was growing and created an online business. PetShopBowl deliver pet supplies nationwide and offer a unique subscription service.

As the Tenner Challenge progresses and moves across the country it is sure to change the way the younger generation think about enterprise and it will be exciting to see the business ideas they come up with.