The Tycoon Enterprise Competition is designed to encourage young school-age people from across the country to start their own business. The scheme has been set up with the intention of encouraging and inspiring pupils to pitch a business plan to their tutors, in the hope of receiving seed funding.
All those who register their details for the competition will be sent the Competition Pack and the login details to the Teacher Area. During this phase, the online Teacher Area will provide teachers with a range of free teaching resources and lesson plans to support their students with planning their businesses.
If successful in their bid for funding, the students will have one month in which to commence trading and make a profit.
At the close of the competition, students will repay their original loans to the Tycoon Bank, and remaining profits can be used by the school or donated to local charitable causes.
The competition is open to students aged 5-18 years, attending primary or secondary school, from both the private and state sector. In addition, students aged 18 and under in Further Education College are also eligible to take part. Schools may apply for funding through this scheme, on behalf of entrepreneurial students.