Bristol Charity Deki offers the opportunity to change a life with a £10 loan

dekitenner

Deki (Deki.org.uk), a Bristol based charity is calling to action entrepreneurs of all ages and experience to join the ‘Deki Tenner Tournament’ this November, to help change the lives of people in the developing world.  Schools, businesses, clubs and individuals are all invited to get involved. Entrants will be given a £10 loan from Deki and then have four weeks to action their ideas and turn it into as much money as possible.

The idea of the Deki Tenner Tournament was born from Deki’s philosophy that it is possible to change a life starting with a £10 loan. The charity helps people to help themselves out of poverty by providing access to ethical microloans and business training. Currently working in Malawi, Togo, Ghana and Nepal their loans have helped thousands of people turn their lives around, creating a better future for the borrowers and their families.

Established by former UWE graduate, Vashti Seth, these loans and Deki’s field partners have helped improved thousands of lives, creating a better future for the borrowers, their families and the local communities. Deki loans have been used to purchase sewing machines to create small tailoring businesses, water pumps to increase farmers’ yields and tools to create a carpentry business.

Another UWE student studying Business and Marketing, Ryan Liquorice was the first ever Tenner Tournament winner last year. While on his placement with Panasonic, Ryan heard about the competition through his blackboard news portal. Attracted by the entrepreneurial challenge, Ryan found he could use this as an opportunity to launch his cooking book, something he had been thinking about putting together for quite a while.

However, he first needed to raise the initial capital to invest into this scheme. Along with his granddad, Ryan set up his own small car wash and valet service and in just one day, Ryan turned a tenner into £77.

Not content, he boosted his success by asking for help from Panasonic, as time began winding down and only a few weeks remained of the tournament. Purchasing a Le Creuset dish for £1 from a colleague, Ryan then e-mailed all the staff on site asking them to send him their favourite recipes, of which the best would win the Le Creuset dish. Then, he approached Panasonic’s own design agency to enquire whether they might be able to help with the production of the cook book, which they provided at a cost price.

With print production times overrunning and the deadline, only a week away, Ryan came up with a brilliant idea to pre-sell the books in a PDF format, collecting money in advance. Each book was sold at £5 each and a total of 77 were sold, raising a grand total of £407. Ryan has still been receiving offers to purchase the cooking book and continues to lend more money to entrepreneurs via the Deki website.

This year, a multitude of other individuals, schools and businesses have become involved with this entrepreneurial challenge, with the aim to transform that £10 into as much money as possible in four weeks. Schools and businesses from all over Bristol have signed up, including Rolls Royce, Bradley Stoke Community School, UWE and the University of Bristol being the first of many to confirm their place. For anyone wishing to get involved, there is plenty of support on hand. Trained students have been visiting local schools to carry out workshops that cover topics including poverty, microfinance and setting up a business.

And just as important, all the money that is made will then be re-invested with entrepreneurs in the developing world, who traditionally would not have access to such assistance, enabling them to work their way out of poverty in a long-term and sustainable manner. To get involved go to www.deki.org.uk/tenner