Windermere Students Turn £110 Into £1,700 In “Tenner Challenge”

11 May 2018

From 19 February to 16 March, eleven groups opted to take part in the Young Enterprise Tenner Challenge.  Each group put together a business plan and then were given £10 to fund their enterprise.  The aim was to see how much that £10 could grow in just one month.

This year we had a wide range of ideas from jewellery, to popcorn, cakes, a joke shop, luggage tags and even homemade slime!  Each of the teams invested their £10 in the resources they needed to start up their companies and then followed this up with a month of very hard work.  With pop up shops appearing most days, in the dining room, the companies were open for business.

Everyone learnt a lot along the way.  There were discussions about profit and loss, problem solving, supply issues and even conflict resolution.  Each group was also encouraged to take part in the weekly, online competitions run by Young Enterprise.  We had some excellent entries for the logo competition.

At the end of the challenge, each group gathered together their money and this was then used to pay back the initial £10, and £1 legacy, to allow this challenge to continue in the future. At the very beginning, each group had decided on how much profit they would keep and how much they wanted to give to charity. At the time of writing this article, the groups had raised a staggering £1,696 from an initial investment of £110. Piece of Cake, run by Alice Thomas and Isabella Scowcroft, raised the most, with their £555 funds earned from selling luxury cupcakes. They received a salary of £136 each and gave £272 to Cancer Research UK. Thomas Johnson sold luggage tags and, after paying back his costs, gave 100% of his profits to Macmillan Cancer Support. They have already received their cheque for £310.

Every team contributed brilliantly to the challenge and, in total, well over £822.40 has been raised for charity. This is especially impressive because the teams were made up entirely of students from Year 7 to Year 9. Many of the teams are already planning their strategies for the 2019 challenge and a great number of older students are considering taking part as they have seen what a difference can be made in just one month. Congratulations to all of the Year 2018 teams and I look forward to even more students opting in to the challenge next year.

Mrs King – Director of Student Pathways

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