$20 Challenge

Project Champion

Under BEF Pillar 'Education and

Talent Development'

The $20 Challenge Media Centre

Keith Miller

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.

About the BEF Scotiabank $20 Challenge

The $20 Challenge is an annual entrepreneurship competition for 4th and 5th form students in secondary schools across Barbados.

The competition, now in its seventh year, is targeted at the thousands of young Barbadians in fourth and fifth forms at secondary secondary schools across the country.

These students are loaned $20 for five weeks and challenged to make money, while also making a difference in their communities.

What is the purpose of the Challenge?

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!

  • 4th and 5th form students in secondary schools across Barbados are invited to participate.
  • Each school is assigned 1-2 ambassadors.
  • Every participating student is loaned $20 to start a business.
  • Students are taught and mentored throughout the competition period (4 weeks) by the ambassadors.
  • Students share information regarding their efforts.
  • 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.

2017-2018 $20 Challenge: Important Dates

  • Launch of Challenge – September 26
  • Presentation of Students – September 27
  • Marketplace at Flow – October 20
  • BEF at Skymall Marketplace – November 25
  • Final Judging – February 17, 2018
  • Awards Ceremony – March 17, 2018
  • Charity Event – March 27, 2018