The Best New Business Awards are now in their 11th year with LighthouseXpress Limited, Tees Valley Unlimited, Teesside University and Business Link North East as Promoters of the Awards for 2010, and are committed to recognising the achievements of entrepreneurs and increasing their profile within the vibrant Tees Valley business community.
No matter which type of industry it is, or the size of business, the Awards' categories reflect the diverse mix of the area. The only criterion is that the business must have been trading for 3 years or less (since 1 July 2007).
Entries can be made by visiting www.bestnewbusinessawards.com Simply follow this link, click on the ‘Enter’ tab on the top of the home page and fill out an online application form.
The application form couldn't be easier to complete and, once entered, applicants have the chance to win a cash prize of £500 in one of the 8 categories of Award, plus a cash prize of £1,000 for the overall Award winner. Each category winner will receive a prestigious trophy engraved in recognition of their achievements.
Entrants must have:-
(a) A business plan.
(b) Demonstrate sustainability, i.e. a good prospect of survival, logical business structure.
(c) Show evidence of success.
There are 9 separate categories of Award as follows:
1. COMMUNITY AWARD
The judges will pay particular attention to evidence of creativity in the use of resources to help local communities. They will especially be looking for businesses that have helped the community or are themselves community or social businesses.
2. CREATIVE INDUSTRIES AWARD
The judges will be looking for businesses that are enhancing the local community in terms of its culture. They will also be looking for businesses that specialise in the Creative arena, which could be Digital Media, Photography, Arts & Crafts etc.
3. ENVIRONMENTAL AWARD
The judges will consider businesses that have processes that are environmentally friendly or that utilise waste products in the manufacture of other products. Within this category they would also welcome companies who are promoting or supporting other businesses to be more environmentally aware.
4. MANUFACTURING AWARD
The judges will consider all aspects of manufacture, including research and development, launch activity and the actual or likely commercial success of the product/service.
Key success factors will include time taken to market, design process/best practice, market potential for growth/competition and profitability. Other factors might include job creation/safeguarding. Use of teamwork, project management capability, customer delight/novelty factor and use of market research. Development to prototype stage only is expressly excluded from this award.
5. MARKETING AWARD
The judges will be looking for innovation and evidence of businesses maximising the use of a range of media to promote and advertise the company’s products or services. The business would need to identify the level of success it has achieved in creating “sales” from the use of exceptional marketing activity.
6. RETAIL AWARD
The judges will look for businesses showing sales innovation appropriate to it’s retail sector, whilst offering the local community exceptional levels of customer service. In addition they should exhibit retail managerial and leadership excellence, financial performance including sales and gross profit.
7. SERVICE AWARD
The judges will be looking to identify a service company that has achieved and exceeded quantifiable business goals while delivering a market leading service to their customers. Evidence of service excellence will be a key factor.
8. YOUNG ENTREPRENEUR AWARD
The judges will look to identify what has made the difference between success and failure and what is different about the product/services to that of the competitors. In addition the judges will measure managerial and financial performance, potential for growth, and evidence of commitment and imagination in the product or service. This Award is for business founders who were under 25 years old when starting their business.
9. OVERALL AWARD WINNER
Previous winners have been characterised by excellence in product or service, the achievement of a strong or growing market share in their chosen niche, reflected in growing profitability.
Other winning characteristics could be a successful turn-around of a dying or slow moving company, successful exploitation of innovation, excellence in setting up a major new operation and bringing it into production at a high level of efficiency. In addition the business may demonstrate successful pioneering of new markets, the re-adaptation of a business and its survival in a highly competitive market, or enterprises that have succeeded by getting the very best out of their work force.
In a sentence, the judges are looking for something special for all new businesses to admire and from which we can all learn.
The Awards have attracted significant media recognition from regional radio and local press coverage, providing entrants, and the ultimate winners, a platform to market their businesses.
Application forms can also be submitted by post to Colin Brown, Multi Media Exchange, 72-80 Corporation Road, Middlesbrough, TS1 2RF. Whichever entry format is chosen, the deadline for entries is Monday 15 October.
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