Make Your Mark with a Tenner is a national enterprise competition which loans young people £10 each and challenges them to make as much profit and social impact as they can in just one month. This year, the scheme has been awarded a £250,000 grant from the Big Lottery Fund. Dragon Peter Jones and Bebo founders Xochi and Michael Birch have also stumped up £200,000 towards the project.

The competition is open to anyone under the age of 19. Schools and colleges across the UK must register this week to secure a share of the "tenner bank". Students then have the month of March to take part.More than 16,000 young people entered the competition last year, generating an average individual profit of £42. Participants have the choice to keep their profits, develop their business idea further, or donate them to a good cause.

“Make Your Mark with a Tenner empowers young people to make their ideas happen,” comments Peter Jones, chair of Enterprise UK, which was founded in 2004 by the British Chamber of Commerce, the Confederation of British Industry, the Institute of Directors and the Federation of Small Businesses. “We know that young people are increasingly concerned about the challenges society faces, and we’re aiming to show young people that by acting on an enterprising idea, it is possible to make money and a real difference.

"If you trust young people to act entrepreneurially, they will rise to the challenge.”

Internet entrepreneur and Real Business online columnist Dan McGuire is supporting the initiative through his social enterprise www.2hrs.co.uk, asking business people to give up just a couple of hours of their time in March to help the young entrepreneurs turn their ideas into a profit-making enterprises. To get involved, register here.

Related articles:James Caan launches academyAcademics and student entrepreneurs join forces

Share this story