Young entrepreneurs turn $20 into thousands for Charity

Young entrepreneurs are making a significant impact through the $20 Challenge charity event, raising more than $5 000 for several organisations.

The initiative, established in 2015 through a collaboration between Scotiabank and the Barbados Entrepreneurship Foundation, encourages students to engage in entrepreneurship while giving back to the community.

The challenge provides students with $20 and guides them through a financial literacy programme before tasking them with creating a business. This year, 160 students from nine schools participated in the charitable initiative.

Celeste Foster, programme director of the Barbados Entrepreneurship Foundation, revealed that over $5 000 in cash and in-kind donations were given to charitable organisations through the challenge.

“Which is more than three times the loan funds invested into these students. So we had approximately 20 charitable organisations, including schools and graduating classes, that received donations today, and we had 40 student businesses making these donations,” Foster explained.

She emphasised the positive impact this initiative has on the lives of young people, seeing it as an investment that allows them to give back to the community in a meaningful way.

“The charity event is important because it shows our young people that somebody has poured into them and they now need to pour into somebody else. They’re able to do it in kind, with money, or volunteer hours. So we are not specifying which charity to give to, but they have to have a connection with the charity. They have to tell us why that charity means something to them,” she said.

Ryan Carrington, Scotiabank’s Haggatt Hall branch manager, praised the charity aspect of the $20 Challenge, highlighting its role in fostering an entrepreneurial spirit and the importance of giving back to the community.

“In keeping with our commitment to developing our young people, it is also important to expose them to the benefits of giving back, as this provides a unique sense of purpose by helping others. Hence, this charity component of the $20 challenge was created in 2015 to forge a community-minded spirit in our budding entrepreneurs,” he stated.

Annie Walcott, a student from Harrison’s College, also known as the Lucky Dip Lady, created a business inspired by nostalgia for school fair lucky dips. She chose to use the profits to create care packages for the homeless.

“I chose to use the profits that I made; I would have spent $500 buying toiletries and food to put together care packages for the homeless, and I would have donated those care packages. There were 60 care packages — 29 for females and 31 for males — and I would have donated them (to the Barbados Alliance to End Homelessness) in partnership with Harrison College Key Club, which I am the president of,” Walcott shared.

In addition, Walcott made donations to her alma mater, the Charles F. Broome Memorial Primary School, and the graduating class of her current school.

A parent of one of the young entrepreneurs, who is also a representative of one of the charities, expressed pride in seeing children who may start with challenges grow into responsible young adults ready to give back to society.

We are always telling people our children may start with challenges, but they progress and become adults who are responsible and who can give back to society. We try really hardnot to let people limit our children, because they may start out a little challenged. They may need a little help, but with help, it is really wonderful to see the progress that they make. So it is a wonderful thing to have a student who can give back and who can give back something meaningful,” the parent said.

Alexandra Stoute, CEO of Ali’s Crochet Craze, donated $100 to the Ocean Acres Animal Sanctuary. Her donation was inspired by her love for animals, being a pet owner herself.

“I have four dogs and eight cats. I know how expensive it is to take care of them, and I want all animals to have food and a loving home and live the loving life they deserve.

I hope to inspire others to do their part to help these animals out and to let them have the most spectacular life they deserve,” Stoute said.

Karen Whittaker, founder and CEO of Ocean Acres Animal Sanctuary, expressed gratitude for the donation and highlighted the importance of emotional intelligence and responsibility towards animals and people.

“This is particularly inspiring for me because, in our dayto-day work, we don’t always see the best of everything,” she remarked. “Our issues are not about cats and dogs; it’s about people being more responsible, being more accountable, making better choices, having greater emotional intelligence, and thinking about how their actions impact other people and other living creatures. If we can all do that, it just makes our society and the world in general a better place.”

Foster is encouraging more volunteers to step forward, stressing the transformative impact of giving back.

“Imagine if everybody who has had a helping hand sought to give back, and we paid it forward. Imagine the transformation we would see in our country in a very short time,” she said.

louriannegraham@barbadostoday.bb