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Waveney youngsters eye up a profit

PUBLISHED: 17:16 13 February 2009 | UPDATED: 22:29 05 July 2010

YOUNG people from across the Waveney area are aiming to make wads of cash from just a ten pound note during a competition designed to fuel the thinking of budding entrepreneurs.

YOUNG people from across the Waveney area are aiming to make wads of cash from just a ten pound note during a competition designed to fuel the thinking of budding entrepreneurs.

Make Your Mark with a Tenner was launched on the east coast on Tuesday by Anglia News reporter Sascha Williams, who gave out giant notes to participants outside Barclays Bank in Beccles.

A total of £200,000 has been made available for the contest, which is supported by NESTA (the National Endowment for Science, Technology and the Arts) and funded by entrepreneurs Peter Jones and Michael and Xochi Birch, the founders of social networking site Bebo.

The challenge is that young people will be given £10 for a month and encouraged to make as much profit and social impact with it as they can.

Beccie Simpson, campaign manager for Make Your Mark, which is based in Lowestoft said of the launch: “It has given the participants the opportunity to get some publicity for their business ideas, as well as getting an insiders look at how a bank is run.

“We hope that the participants will not only gain some promotion for their business or service, but also get an idea of how any profits they have made can be best used, and how they can use banks to their best advantage in the future.”

The launch was the first stop on the Tenner Tour, which takes place across the eastern region during February.

Next week Beccie will be visiting Orton Longueville School in Peterborough, Sandringham High School in Hertfordshire, followed by Chesterton College in Cambridge at the end of the month.

Beccie and her team, including local business people and Make Your Mark ambassadors will be visiting the schools to conduct workshops aimed at helping the participants develop their businesses.

Hazel Johnson, Campaign Head of Eastern Region for Make your Mark, said: “The workshops will be a great help to those taking part. The sessions have been tailored to suit the different stages that participants may be in their business development journey. We are taking along some business people and ambassadors who have first-hand experience of starting and running their own businesses.

“We want to encourage the young people taking part to build their company into a sustainable enterprise so that they can continue their enterprise journey after the competition has ended.”

Since the competition has been running, business ideas in the eastern region have included a photo restoration service -turning old or damaged printed photographs into new digital versions, a home delivery shopping service for house-bound people, and a web-design and construction service for young people.

There will be prizes for the best individual and team. Entrants can share a tenner or put their money together to work as a team.

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