Announce challenge has point, a little bit (7)
I believe the answer is:
declare
'announce' is the definition.
(I know that announce can be written as declare)
'challenge has point a little bit' is the wordplay.
I cannot really understand how this works, but
'point' could be 'e' (compass point) and 'e' is found within the answer.
'a' is within the answer.
'little' could be 'l' (abbreviation for little) and 'l' is present in the answer.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for declare that I've seen before include "... cut short innings" , "Announce 13 closed" , "Announce formally" , "Profess" , "Make clearly known" .)