Could you cut it in £50 charity challenge launched in Sheffield?

The annual fundraising extravaganza - which pits teams against one another to see who can raise the most for charity - was officially launched with a rallying cry to make this the most successful year ever.

Grant Thornton, DLA Piper, Henry Boot and internationally renowned animators Finger Industries are among numerous big firms already signed up to take part in the competition, which is this year raising money for The Children's Hospital Charity and Cavendish Cancer Care.

But the city's mistress cutler Dr Julie Edwards, who is also manager of ultrasound at Jessop Wing, wants even more teams to get involved and help raise a massive £200,000.

"We are so excited about the challenge, and we have set the bar high with a target of raising £200,000," said Dr Edwards, who was joined by her husband, the master cutler Richard Edwards and more than 100 business leaders for the launch at the Cutler's Hall, in Sheffield city centre, last Thursday (March 9).

"We have some incredible businesses and groups who have already pledged their support. We now need as many businesses as possible to come on board and join us to help support these two wonderful causes that mean so much to the people of Sheffield."

Competing teams are each given a £50 starting pot from which to make as much as possible for charity, however they choose, during the six-month challenge.

The Children's Hospital Charity will get half of the money raised, which it will use to improve the neonatal surgical unit at Sheffield Children’s Hospital.

Cavendish Cancer Care, which offers support including counselling and complementary therapies to those affected by the disease, will receive 30 per cent.

The rest will go to The Cutlers’ Company Charitable Trust, which supports local groups working to bolster manufacturing in South Yorkshire.

For more information about the challenge and how to sign up, visit www.mistresscutlerschallenge.co.uk.