Can Vin Murria – Entrepreneur of the Year – live on £71 for a week?

The Fredericks Foundation today launches the Trading Places Challenge to support small business growth and boost the economy. *Entrepreneur of the Year 2012, Vin Murria, is to live on £71 for a week.

Reminiscent of the 1980s hit movie with Eddie Murphy and Dan Ackroyd, participants will cut out extravagances like meals out, drinks with friends and extra travel costs for a week in an attempt to live on the tight £71 budget – a single person’s current Jobseekers Allowance (JSA) – to give them a glimpse of the difficulties faced by people struggling to get by and support their families whilst trying to get into the workforce.

Vin is a Trustee of Fredericks Foundation, a non-profit organisation that provides vital microfinance support to those wanting to start their own businesses but who have no means of financing it thereby fostering the growth of small businesses, which are the lifeblood of the economy.

“This is a real challenge but I believe passionately in helping people to help themselves which is why I support this event and this charity” says Vin Murria, CEO of Advanced Computer Software Group.

The Trading Place’ challenge starts today (Friday 1st March) when participants are asked to put £71 in their wallet and make it cover their living expenses for the next seven days. Everyone from Britain’s top company chief executives to the workplace trainee are being encouraged to take part in the initiative.

Participants are being asked to donate the equivalent £71 allowance to Fredericks Foundation either through personal donation and or through sponsorship.

Paul Barry-Walsh, Chairman of Fredericks Foundation said: “This challenge will hopefully demonstrate how hard it is to save capital to start a business when you are out of a job and only living on £71 a week. The more people that get involved the more people we can get back working again and off JSA”.

Now in its 13th year the charity has provided loans and changed the lives of over 965 people. More details can be found here.

*AIM Awards Entrepreneur of the Year.