$20 Challenge



 

 

Project Champions


Under BEF Pillar 'Education and Talent Development'

Christian Paul

Omar Kennedy

About the BEF $20 Challenge

In 2011, the $20 Challenge programme was launch. This is an annual competition to help build a culture of entrepreneurship amongst students in secondary and tertiary institutions across Barbados. The programme allows students to experience building a business before they enter the world of work.

 

The competition is targeted at the thousands of young Barbadians across the country. These students are loaned $20 for five weeks and challenged to make money, while also making a difference in their communities.

 

The challenge’s main purpose is to give young people the opportunity to be enterprising. It aims to increase their ability to respond positively to change, take reasonable risks, create and execute new ideas and new ways of doing things, and to act on their plans confidently.

In 2011 and 2012 the BEF hosted an Entrepreneurship Summit, at which leading experts and business leaders made presentations and held workshops in finance, recession strategies, growth strategies and export strategies to name a few.

How does the Challenge work?

It’s simple!


  • Students from secondary and tertiary institutions are invited to participate.
  • Students are taught and mentored throughout the competition.
  • Students get to trade their goods and services to the public through a variety of marketplace opportunities.
  • At the end of the trading period, business reports are submitted for judging. The loan is repaid.
  • Participants are encouraged to give back to their Community at the Charity Event.
  • Workshops are conducted to hone their business acumen.
  • Winners are chosen!


Each year, the BEF seeks to expand and improve on the competition. In 2015, we introduced a Student Marketplace. Every year, we expand the Student Marketplace and hope to include televised elements of the contest, as well as a ‘Peoples Choice’ award. Winners' videos from 2013, 2014 and 2015 can be found on YouTube, as well as videos of the Student Marketplace. Click here to watch videos.

The $20 Challenge Media Centre




A drive to boost entrepreneurship among Barbadians is working, if numbers attending the Youth Entrepreneurship Scheme's 'Camp Enterprise' is anything to go by. This video features some students who are scholarship winners from the BEF/Flow $20 Challenge and one of the young men who spoke is currently a part of the BEF Agriculture Entrepreneurship Programme.