Peter summons each of the budding entrepreneurs for a meeting. They are all given a task, individual to each of the different products but all with the same ultimate goal….to take the next tentative steps up the business ladders.

Pulling on their strengths and highlighting their weakness, Peter looks to protect his investment but also pushes the Tycoons into making some money back. To highlight the importance of this task, he offers to match any profit they make.

It’s a different type of shopping for Lauren Pope as she attempts to complete her challenge. She has to get commitment from a retailer to stock her unique brand of hair extensions. With hours spent on the phone trying to secure a deal, Lauren takes a couple of days out and heads off to China to talk to potential suppliers of real hair.

Cathy Caudwell and Helen James are also spending days by the phone trying to sell their ‘SOD’ the gardening range. They must deliver £10,000 worth of profit and with Peter’s offer to match any profits made, the girls are determined they will succeed.

Elizabeth ‘make it happen’ Hackford heads out the breweries, she needs to secure an order with a major outlet for more than 5000 bottles of her fruit based vodka drink. Competing with the big brands she has a tough job ahead of her to succeed but her strong belief in her brand she is determined not to go down without a fight!

Enviromentalist Justin Chieffo’s challenge is approach potential stockists to place an order for 10,000 of his Eco-friendly bag. Without the constant support from his family, Justin find himself missing his family life, which is something he credits with his success so far.

Iain Morgan, is used to selling, having ran a stall in his local shopping centre, but with 1000 orders of his in-door micro helicopter to achieve, he must convince buyers why his gadget is the new ‘must have’ toy of the season.

Finally Tom Thurlow has to gain £5000 worth of advertising in his student news paper. Undeterred by this huge task, Tom has every faith that this is a task he will be able to complete.

The contestants also get a surprise this week when they have to attend the press launch. They will have the challenge of engaging with a room full of journalists, whilst some of nervous at this prospect, Tom is convinced that this is going to prove invaluable for Snap News.

But it’s not as simple as pass or fail. Peter will be assessing how they go about their tasks as well as the results they achieve and as an extra incentive he’s promised to match any profits they make.

One wrong move could lead Peter to wind one of the companies up and with it end not only their chances of being crowned Tycoon, but also of winning the jackpot prize– every penny of profit made by all the companies.

Tuesday 26 June 2007 9:00pm – 10:00pm on ITV1.