Everything there is to know about Youth Enterprise Challenge
Welcome to Youth Enterprise Challenge, to find the next generation of upcoming entrepreneurs. Here you’ll find out when the challenge begins, how it works and how you can get involved.
This Challenge is for young people aged 11- 24 who want to get a flavour of what it’s like to be an entrepreneur. It gives them a chance to think of a new business idea and make it happen, using real money to take calculated risks in the business field, make a profit – and make a difference. The Challenge has competition and young people from all over the districts can get involved, just tell your local School/Academy or Youth Group about us to participate.
YEC is great way to take on a Challenge in your local area and make money at the same time.
This Challenge is for young people aged 11- 24 who want to get a flavour of what it’s like to be an entrepreneur. It gives them a chance to think of a new business idea and make it happen, using real money to take calculated risks in the business field, make a profit – and make a difference. The Challenge has competition and young people from all over the districts can get involved, just tell your local School/Academy or Youth Group about us to participate.
YEC is great way to take on a Challenge in your local area and make money at the same time.
Step 1 - Here's a Challenge!
Young people are pledged some of money, but no more then £20 per-person from us.
Step 2 - Get started.
They use this start-up capital to get their idea off the ground in a group.
Youth Enterprise Academy can help boost your challenge by running a half day workshop for your participants. This does have an associated cost and is subject to local funding streams, contact us for further information.
Step 3 - Pitch for more funds
Part the way thought this challenge the young people will have the opportunity to pitch for addition funds, this also form part of the weekly competition.
Step 4 - Keep it going.
They have 4 weeks to make as much profit as they can from their part in the challenge while also trying to make a difference and give back to community. Contestants take part in weekly competitions to keep them engaged and motivated.
There are online resources available in the unique area of the website to help teachers lead their students through the Challenge, some of which include; guidance, activities, templates and more. For the students there will be templates and guidance as well as an online logbook to help them keep track of how they are getting on, which will also be their entry to the District Competition.
Step 5 - 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, a day out, resources or activities for school, or they may wish to donate their money to a charity of their choice.
Step 6 - Payback for the future.
At the end of the month, payback their some of money plus 15% of any profit made as legacy donation, this is so more young people can participate in the Challenge. Participants can also enter the district Competition
Young people are pledged some of money, but no more then £20 per-person from us.
Step 2 - Get started.
They use this start-up capital to get their idea off the ground in a group.
Youth Enterprise Academy can help boost your challenge by running a half day workshop for your participants. This does have an associated cost and is subject to local funding streams, contact us for further information.
Step 3 - Pitch for more funds
Part the way thought this challenge the young people will have the opportunity to pitch for addition funds, this also form part of the weekly competition.
Step 4 - Keep it going.
They have 4 weeks to make as much profit as they can from their part in the challenge while also trying to make a difference and give back to community. Contestants take part in weekly competitions to keep them engaged and motivated.
There are online resources available in the unique area of the website to help teachers lead their students through the Challenge, some of which include; guidance, activities, templates and more. For the students there will be templates and guidance as well as an online logbook to help them keep track of how they are getting on, which will also be their entry to the District Competition.
Step 5 - 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, a day out, resources or activities for school, or they may wish to donate their money to a charity of their choice.
Step 6 - Payback for the future.
At the end of the month, payback their some of money plus 15% of any profit made as legacy donation, this is so more young people can participate in the Challenge. Participants can also enter the district Competition
Youth Enterprise Challenge Competition
The Youth Enterprise Academy is setting up a business challenge for young people to give back to their community. Throughout the challenge we will have weekly competitions to keep students excited, encouraged and motivated. The challenge is easy to enter and will motivate all the hard-work the young people are doing.
The weekly competitions are linked to stages of the business set-up and only require an upload of image or video clip.
Week 1 – Logo Design
Week 2 – Sales Pitch
Week 3 – Advertisement
Week 4 – Trade Stand
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 competition will be based on the completed work sheets. While we hope that all students will enter the competition, two work sheets and 2 weekly log sheets per school can be entered to the Community final. Teachers/Leaders are asked to shortlist from all their groups and submit the best two.
Judges from the world of business will look at the work sheets and weekly logs and choose the winners according to the criteria including innovation, journey travelled and social conscience.
There will be an Awards Celebration Ceremony in January for all winning students and teachers. Winners will be notified in December so that travel and permissions can be arranged.
There are four awards in competition:
- Most Inspiring Individual
- Best Group
- Most Profitable Business Idea
- Greatest social impact
- Best Preforming School Award
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.
- Organisations login to their unique web account
- Organisations share instructions with their students so they can register their teams
- Youth Enterprise Academy will issue the funds to the organisation from the Challenge Bank three days prior starting challenge.
- An email notification will be sent to the organisation to confirm payment has been made.
Make a difference
Giving your profits to not-for-profit or charity is not the only way businesses can make a difference. Some businesses are set up as a social enterprise, with a clear view on having a social impact.
A social entrepreneur is someone who sets up a business or project which is driven by a social cause. It can be a great way to take on a challenge in your area and make money at the same time.
This money could then be taken as profit, or you could reinvest it into finding more ways to solve the issue.
A social entrepreneur is someone who sets up a business or project which is driven by a social cause. It can be a great way to take on a challenge in your area and make money at the same time.
This money could then be taken as profit, or you could reinvest it into finding more ways to solve the issue.