Most Promising New Business

Digital ExchangeSponsored by Digital Exchange.

The ‘Most Promising New Business' award acknowledges that new and small businesses are the foundation of our economic future and provides early recognition and encouragement to our stars of tomorrow.

Most Promising New Business - Criteria 

Your business must have been operating for between 12 months and three years.

Entrants will have to provide details of how the company has performed and its future projections. You will be asked to explain the background to the business, its markets, the business vision and the research underpinning its development.

The judges will be looking for:

  • A description of your business, its products or services, its customers and markets.
  • A summary of why you started your business and your vision for it.
  • What research was undertaken in developing the plans for the business: details of research undertaken, the sources and the impact that these had on your decisions.
  • Any challenges you faced and how you overcame them.
  • Overall trends in your sales, turnover and profit development together with a brief description of key events that affected them.
  • Objectives for your business over the next three years.
  • How you measure business performance against your vision and objectives.
  • What makes your business stand out - its competitive advantage.
  • Specific strategies and their impact on your business (choose a minimum of four, covering areas such as marketing, workforce development, customer recruitment and retention, financial planning and control, supplier relationships and management, operations, IT and innovation).
  • A summary of why your company deserves the award.