Calling all aspiring entrepreneurs

November 09 2013

A BRISTOL-BASED charity is calling on local, aspiring entrepreneurs to take part in a tournament which will help change lives in the developing world.

A BRISTOL-BASED charity is calling on local, aspiring entrepreneurs to take part in a tournament which will help change lives in the developing world.

Deki - a charity that assists people out of poverty by providing access to ethical microloans and business training - will be giving entrants a £10 loan, which they have four weeks to turn into as much money as possible.

The loan can be used to start a small business such as a car valet or a cake bake. Profits are then re-invested by the entrepreneurs to create a secondary enterprise such as a bike repairs workshop or a sports class. People can either work individually or in teams, and are encouraged to be as creative as possible.
Schools, businesses, clubs and individuals are all invited to get involved.

All money made from the Deki Tenner Tournament this month will be re-invested in entrepreneurs in the developing world, enabling them to work their way out of poverty.

Deki loans have previously been used to purchase sewing machines to start up small tailoring businesses; water pumps to increase yields; and tools to create carpentry businesses.

The charity - based in Stokes Croft - works in Malawi, Togo, Ghana and Nepal, and has helped thousands of people, creating a better future for the borrowers and their families.

Ranju Kumari Karki uses her Deki loan to expand her grocery store

Lenders from the UK and overseas can lend as little as £10 to a chosen entrepreneur. Entrepreneurs require, on average, £200 to kick-start their business.

Lenders are paid back over a year and are able to re-lend the money to another entrepreneur, allowing them to help a number of people raise themselves out of poverty. Deki has a 99% repayment rate of loans.

Vashti Seth, founder and CEO of Deki said: "We are really encouraging schools and businesses to get involved in the Deki Tenner Tournament this November.
"This is a great opportunity to inspire staff and students alike, giving them the chance to hone a range of skills, champion leadership and engage in some teamwork. Not only that, but they can have some fun while changing people’s lives."

Deki mentors are available to carry out the workshops with the entrants, covering topics such as poverty, microfinancing and setting up businesses.
For those wishing to take part in the tournament, visit: www.deki.org.uk/tenner.