Most Promising New Business

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Most Promising New Business 

sponsored by Business Gateway:

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The first 12-months of any new business is about setting down roots, building relationships, developing your reputation and gaining a foothold in a market. This award will be presented to an early stage start-up business, less than 12 months old as of 20th March 2019.  

 

1. Business trading start date: DD/MM/YYYY

This will be the date the business first invoiced work or sold its first product.

 

2. Demonstrate how this business has laid the foundation for a prosperous future

(Word Count, 500 words)

Please consider the following points in your answer:

  • Evidence of a well-researched business plan.
  • Targets met and achievements made to date compared to the original plan.
  • A clearly defined vision for developing and growing the business in terms of both turnover and employment.
  • A strong focus on the needs of the customer and an effective marketing strategy.

 

3. Financial information

If possible, please provide the business turnover to date and/or projected turnover if the business is less than 12-month old.

  • Turnover (£)
  • Projected Turnover (£)

 

4. Please provide further information on the business and business owners/management

(Word Count, 1500 words)

Consider the following points in your answer:

  • Demonstration of originality
  • What is unique about the business? Has it changed the way business is done in its sector, produced innovative products or services, or found a new route to market?
  • How do you differentiate yourself from your competitors?
  • Evidence of success: please provide evidence of your achievement in relation to initial targets
  • Has revenue/profit/market share exceeded expected levels, what proof is there of strong customer satisfaction?
  • Have you made a major impact on your sector or local community?
  • Inside your business: what working practices have driven the success of your business? What indicators tell you that you are being successful? What innovations have you introduced, which are paying dividends? What are your future goals?

 

5. The Entrepreneur

(Word Count, 500 words)

  • Tell us about you and your businesses experience to date.
  • What difficulties or challenges have the business owner overcome to get the business up and running?
  • What are the key lessons learned, so far, through the business?

 

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