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CommunityWorks’ 2017 Excellence in Entrepreneurship Award Nomination Guidelines
Contents About CommunityWorks and “Excellence in Entrepreneurship” ...................................................... 2 Nomination Guidelines .................................................................................................................... 2 Awards ............................................................................................................................................. 2 Young Entrepreneur of the Year .............................................................................................................. 2 Minority-Owned Microbusiness of the Year ........................................................................................... 3 Woman-Owned Microbusiness of the Year ............................................................................................ 3 Entrepreneurial Success Award ............................................................................................................... 3 Microbusiness Champion of the Year Award .......................................................................................... 4
Evaluation Criteria............................................................................................................................ 4 Nomination Form............................................................................................................................. 5
About CommunityWorks and “Excellence in Entrepreneurship” It is no secret that business ownership is an essential component to building wealth and strong communities. Microbusinesses, a business with 5 or less employees, are critical for a vibrant economy, but microbusiness development is often threatened by limited access to capital and disjointed business support systems. Seeking to better the situation, CommunityWorks developed the Microbusiness Loan Program to connect entrepreneurs with the business coaching and capital to start or expand their business and to develop stronger microbusinesses throughout South Carolina. Our program offers the financing, training, and business coaching that empowers entrepreneurs with the knowledge and capital to increase their revenues, develop business strategy, and create jobs. Since 2012, we have provided local entrepreneurs with 115 loans, totaling over $2.2M. Our Microbusinesses have created over 139 jobs and participated in over 3,750 hours of business training to help build their skills and grow their businesses. This year, as part of a statewide initiative called Microbusiness Month, we will be celebrating in Greenville with our event, Excellence in Entrepreneurship. CommunityWorks will be honoring four microbusinesses and one microbusiness and entrepreneur advocate.
Nomination Guidelines Any individual or organization dedicated to the support of the microbusiness community in South Carolina may submit nominations for Minority-Owned Microbusiness Award, WomanOwned Microbusiness Award, Young Entrepreneur Award, Entrepreneurial Success Award, and Microbusiness Champion Award. Individuals may not be nominated for more than one award category.
All nominations are due to CommunityWorks by 5pm ET on Friday, April 28, 2017. It is anticipated that winners will be announced in late April. Awards will be presented at the 2nd Annual Excellence in Entrepreneurship Award Reception, during Microenterprise Month, on Tuesday, June 6, 2017 at One Main in Greenville, SC. For questions or additional information, contact Latorrie Geer by phone at (864) 235-6331 or by email at
[email protected]
Awards Young Entrepreneur of the Year To be considered a young entrepreneur, the individual must serve as a majority owner and operate or bear principal responsibility for operating a microbusiness, as defined by having 5 or fewer employees, with a three-year track record, and who will not have reached the age of 35 by June 1, 2017. The selection criterion includes:
1. Evidence of success. 2. Increased employment opportunities created by the nominee’s business. 3. Development and/or utilization of innovative or creative business methods. 4. Demonstrated entrepreneurial potential necessary for long-term business success and economic growth. Minority-Owned Microbusiness of the Year An individual who has experienced the rewards and difficulties of owning a minority-owned business. The owner must also serve as a majority owner and operator or bear principal responsibility for operating a microbusiness, as defined by having 5 or fewer employees, with at least a 3-year track record. The selection criterion includes: 1. Evidence of success. 2. Increased employment opportunities created by the nominee’s business. 3. Development and/or utilization of innovative or creative business methods. 4. Demonstrated entrepreneurial potential necessary for long-term business success and economic growth. 5. Other accomplishments demonstrating the nominee’s merit as an effective advocate for minority microbusiness business interests.
Woman-Owned Microbusiness of the Year A woman entrepreneur who has experienced the rewards and difficulties of owning a business. The owner must also serve as a majority owner and operator or bear principal responsibility for operating a microbusiness, as defined by having 5 or fewer employees, with at least a 3-year track record. The selection criterion includes: 1. Evidence of success. 2. Increased employment opportunities created by the nominee’s business. 3. Development and/or utilization of innovative or creative business methods. 4. Demonstrated entrepreneurial potential necessary for long-term business success and economic growth. 5. Other accomplishments demonstrating effectiveness in improving the environment for the creation and expansion of microbusinesses owned and operated by women.
Entrepreneurial Success Award Individuals must own and operate a business that was initially launched as a microbusiness according to SBA size standards of 5 or fewer employees and subsequently developed into a small business. To be nominated and receive this award, the nominee must be an individual who owns and operates or who
bears principal responsibility for operating a small business. Partners who jointly own and operate a business may be nominated as a “team,” as long as the number of individuals in the team nomination does not exceed four. A nominee for this award must own or operate a business that initially was defined as “micro” under the applicable SBA size standards, developed into a small business and must have received SBA assistance to help the business grow. The selection criterion includes: 1. Evidence of success. 2. Increased employment opportunities created by the nominee’s business. 3. Development and/or utilization of innovative or creative business methods. 4. Demonstrated entrepreneurial potential necessary for long-term business success and economic growth. 5. Other accomplishments demonstrating effectiveness in improving the environment for the creation and expansion of microbusinesses in small businesses.
Microbusiness Champion of the Year Award An individual, organization, or company who has fulfilled a commitment to the advancement of microbusiness opportunities for low- to moderate-income, minority, veteran, woman, and/or young business owners and entrepreneurs may be nominate. Nominees may or may not be microbusiness owners.
Evaluation Criteria Nominees for Microbusiness Champion of the Year will be selected based on: 1. Volunteer efforts beyond business/professional responsibilities to advance microbusiness interests within the community, state and/or nation. 2. Demonstrated efforts to improve conditions in the microbusiness community as a whole, not solely for individual personal advancement. 3. Voluntary efforts to provide professional services to the microbusiness community in a legal, legislative, managerial or financial capacity. 4. Demonstrated accomplishments in advising microbusiness groups of opportunities within the overall business community. 5. Other accomplishments demonstrating the nominee’s merit as an effective advocate for microbusiness interests. In evaluating the nominations for Young Entrepreneur, Women-Owned, Minority-Owned, and Entrepreneur Success, the judges will look at the following criteria: 1. Staying power – a substantiated history as an established microbusiness; including: a. Number of years in business; b. Sustained expansion, addition of new markets, growth in square footage occupied, etc.
2. Growth in number of employees – a benchmark to judge the impact of the business on the job market. a. Sustained over a minimum of three years. b. Increase over the three years must be in excess of growth in Gross National Product. 3. Community Assistance – documentation of the type(s) and amount(s) of community assistance received by the business and the year(s) in which it was received. This could include support from organizations such as SBDCs, SCORE, WBCs, incubators, etc. 4. Innovativeness of product or service offered – an illustration of the creativity and imagination of the nominee. a. Specific description of uniqueness of product or service. b. Explanation of how product or service fits a niche not being adequately addressed by the competition. 5. Response to adversity – examples of problems faced in the nominee’s business and the methods used to solve them, including: a. Specific description of financial, physical, legal or other crisis. b. Substantiation of the threat to the continuity of the business. c. Defined actions taken by the nominee to resolve the crisis. 6. Contributions to community-oriented projects – evidence of the use of his/her personal time and resources, including: a. Listing of specific contributions of money, time, or resources to charitable causes. b. Membership in councils, boards, and clubs providing support and services to the community.
Nomination Form Each nomination will consist of the following information: 1. The nominee’s full name, title, business, and home addresses with telephone and e-mail address; 2. The nominator’s name, title place of business, business address, telephone number, and e-mail address; 3. The award for which the nomination is being made; 4. The type of community assistance received (e.g., loan, SCORE counseling, SBDC assistance, etc.), if applicable; 5. A one-paragraph description of the nominee’s business. 6. A two-paragraph statement of nomination, to include a concise statement of the qualities and performance that merit the award; 7. A brief biography of the nominee, not to exceed 400 words; 8. A business profile, not to exceed one page; 9. Any other supporting documentation deemed significant by the nominator, including news clips, letters of recommendation and other evidence of the appropriateness of the nomination. Supporting documentation must not exceed 3 pages.
Please submit all nominations here.
