Most Promising New Business

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Most Promising New Business

sponsored by Business Gateway:

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Year one of a new enterprise is about setting down roots, building relationships, 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 at 23rd March 2018).

Please use your online application to demonstrate how this business has had an outstanding first year of development and performance.

Part 1 – Business Trading Start Date:  (DD/MM/YYY)

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

Part 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.

Part 3 – Financial information

If possible, please provide the business actual turnover to date and/or projected turnover if the business is less than 1-year-old

  • Turnover (£)
  • Projected Turnover (£) 

Part 4 – Please give more 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 your business? Have you changed the way business is done in your 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 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

Have working practices driven the success of your business? What indicators tell you that you are being successful? What innovations have you introduced that are paying dividends? What are your future goals?

The Entrepreneur

Tell us about you and your businesses experience to date.

Has the business owner overcome difficulties or challenges to get the business up and running?

What are the key lessons learned so far through the business?