DESPITE challenging economic trading conditions many people take the plunge and start their own business - and we have an award to recognise those in Fenland who have done so with success.
The New Business of the Year category is one of 10 categories now open for entry for this year’s Fenland Enterprise Business Awards, run in association with Fenland Disrict Council.
The category is open to any company of any size, including sole traders, that have been set up since January 1, 2012. It does not have to be registered for VAT.
When entering please ensure that you provide the name of organisation, type of business activity, number of employees (if any) and date of first trading.
All you need to do is provide a summary business plan to demonstrate the strength of the business model, explain how the business has performed against that plan and how it has been modified to reflect changed economic circumstances.
Also, make sure you answer the following questions:
• Does the business seem viable and likely to survive in the short term?
• Does it have the potential to develop, grow and become established?
• What potential is there for expansion of the employment base?
• What plans does the business have for the next three years’ trading and how do those plans take account of potential uncertainties in the short term?
• Is the product/service sufficiently unusual to create a niche market? If so, does the company have the entrepreneurial expertise to exploit it?
Last year’s New Business of the Year was Barefoot Birth Pools of Whittlesey.
Launched in May 2011, the business became a Limited Company in May 2012 and proved so popular that customers are turned away each month.
The judges said: “Shona Kitchener started this business following her extensive experience as a birth partner, which led to her researching the market and identifying a growing need for birth pools.
“Shona demonstrated a strong business model with the potential to grow into an established business.”
For more information and to enter, visit www.fenlandbusinessawards.co.uk
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