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Barbados Entrepreneurship Foundation (BEF) $20 Challenge
"There's no greater reward in life than helping young people and then seeing them develop into something special."
- Keith Miller, Founding Champion, $20 Challenge
The Barbados Entrepreneurship Foundation (BEF) has been hosting the $20 Challenge since 2011. The challenge fosters an entrepreneurial spirit among secondary and tertiary school students and the wider community and is aimed at building economic resilience in Barbados. Scotiabank has been the major sponsor of the $20 Challenge for almost a decade, and we are pleased to be a part of a programme that aids in the development of young people as they realize their full potential as young entrepreneurs.
The 2025-2026 cohort demonstrated remarkable resilience and determination, with over 100 students completing the Challenge and developing more than 70 businesses across 15 schools. Participants progressed from early uncertainty to confidently pitching ideas, engaging customers, and delivering polished presentations, highlighting the transformative impact of experiential learning. In the end, 17 year old Ayobami Leon-Barker of Queen’s College is awarded Micro Enterprise of the Year, for her business - Segu Blends.
A noteworthy aspect of the $20 Challenge is the Charity Event, introduced by Scotiabank and emphasizes corporate responsibility and encourages youth entrepreneurs to “pay it forward.” Students presented donations in the form of Talent (goods/services), Time (volunteering), and Treasure (profits), showcasing their creativity and generosity.
This year, 15 schools and one independent team participated, with approximately 25 organizations benefiting from donations in cash and in‑kind support. Charities ranged from graduating classes and animal welfare groups to children’s causes and feeding the homeless, reflecting the breadth of community needs addressed.
Here's how the $20 Challenge works.
- The BEF provides a seed capital of $20, along with training and mentorship to participants throughout the duration of the competition and the students then sell their products during a specified timeframe.
- Participants are then required to submit business reports to the BEF and repay the money loaned to them.
- The BEF continues their mentorship efforts and business skills training as the young entrepreneurs venture out to pursue their passion.
Click here to learn about the $20 Challenge wrap up.
Market days are a key aspect of the $20 Challenge, enabling participants to engage with customers and apply what they have learnt in the Programme.
The Ellerslie School, Tropics Natural Juice presentation to Association for the Blind & Deaf at the $20 Challenge Charity Event 2026.
Dr. Jeanine Comma, Director, BEF presents Suzette Armoogam-Shah, Managing Director, Scotiabank Barbados with the Partnership Award in recognition of the Bank’s long standing collaboration with the BEF.
Want to get involved or request more info?
Cindy Mohammed
Manager – Communications & Corporate Social Responsibility