Newport and Monmouthshire Branch of Young Enterprise Wales hosted the launch of the Tenner Competition in Wales at Newport’s Hilton Hotel.
The Tenner competition is a nationwide event backed by business people, including Sir Richard Branson, aimed at discovering the next generation of budding entrepreneurs.
Newport and Monmouthshire Board member Kath Lewis said: “The competition provides budding entrepreneurs with a £10 note. The money is seed capital for the young person to set up a mini business, to start up an idea and make the £10 grow and produce a profit.”
Kath, marketing manager of Newport-based control systems business IAC, said: “The competition is based on a very simple idea and is a wonderful way for youngsters to get a taste of what it’s like to be an entrepreneur and maybe discover that they have a hidden talent for business.”
Local Assembly Member Nick Ramsay, who is chairman of the Assembly’s Business and Enterprise Committee, and who was at the launch, said: “This kind of challenge helps motivate young people to consider a life in business at an early age, and we need to do all we can to encourage the future of young entrepreneurs both locally and across Wales.”
Sponsors for the Newport event were The Hilton Hotel; Dragon Catering, Green Apple Catering, Viaggio UK and Genero Productions.
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