CorpComms Magazine

Young people are being given the chance to put their business skills to the test as part of a new initiative backed by Barclays and Channel 4.

The competition, called  The Stake, offers anyone aged between 16 and 21 the chance to win up to a fifth of the £100,000 prize pot. Organisers say the winners will be those that come up with the best ideas that support a community or business project.

Entrants must submit ideas detailing how they would spend the money if they were to win. It could be for a start-up business or a one-off event.

Young people can either submit their own ideas, or participate by registering as a stakeholder to have a say in which idea will be the winner. Stakeholders can increase their voting power by completing money-related challenges, which are designed to build on their financial skills.

Backers of The Stake hope the competition will make business more accessible for young people.

Antony Jenkins, chief executive of Barclays Retail and Business Banking, said: 'It's crucial that young people have the opportunity to build their financial skills and confidence and actively participate in the future growth of the economy.'

Experts in the field will be on hand to give advice throughout the competition, including Tim Campbell, winner of The Apprentice and Antony Jenkins, chief executive of Barclays Retail and Business Banking.

The top 20 ideas with the most stakes by 11.59 pm on 23 December will be shortlisted and judged by a panel from Channel 4 Education and Barclays.

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