24th ANNUAL ENTREPRENEURIAL EXCELLENCE AWARDS
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1 24th ANNUAL ENTREPRENEURIAL EXCELLENCE AWARDS 2015 NOMINATION APPLICATION NOVEMBER 4 STAR PLAZA (219) northwest@isbdc.org
2 GETTING STARTED For more than 20 years, Northwest Indiana has recognized the achievements of outstanding entrepreneurs and small business owners. The awards are sponsored by the Northwest Indiana Small Business Development Center (NW ISBDC) in concert with leading universities and businesses in our region. THE AWARD CATEGORIES Small Business Person of the Year Entrepreneurial Success Small Business Advocate Small Business Exporter Young Entrepreneur Minority-owned Small Business Person Family-owned Business Emerging Small Business Financial Services Champion Minority Small Business Champion Award category descriptions enclosed in packet. THE AWARDS LUNCHEON The Entrepreneurial Excellence Awards Luncheon honors outstanding entrepreneurs and small business owners. This year s event is scheduled for Wednesday, November 4, This event has been hosted in the region for 24 years and attracts nearly 300 people, including top business leaders from throughout Northwest Indiana. Both the award recipient and nominator are recognized at the luncheon. Nomination packet also available online at NOMINATORS We are looking for people like you to nominate outstanding small businesses and entrepreneurs. Individuals, such as attorneys, accountants, bankers, financial advisors, insurance agents, executives, vendors, customers and employees can make nominations. Organizations, such as, chambers of commerce, professional groups, trade organizations and clubs may also submit a nomination. Nominations may be written and submitted by two or three people who join together to split the workload. Nominees often appreciate that more than one person is making an effort to nominate him or her. ELIGIBLE NOMINEES A nomination may be submitted for any individual or partners whose business is classified as a small business under the guidelines of the U.S. Small Business Administration (stated in the awards criteria section of this kit) and is located in the seven-county area of Northwest Indiana (Lake, Porter, LaPorte, Starke, Jasper, Pulaski and Newton). Ninety-eight percent of all businesses in Northwest Indiana are classified as small business. THE WINNERS Local people, who have excelled in their businesses, are selected as winners. These individuals performed in outstanding ways in one of the categories. Historically, we have bestowed awards on more than 125 individuals at the local level and several have been recognized for higher awards.
3 ENGAGING THE NOMINEE It is recommended that anyone nominating an individual consult with them and solicit assistance from the nominee and his or her accountant, attorney, banker or other professional advisor, as well as key staff. Suggest a meeting or lunch to review the information that is required. You might want to suggest a team approach and involve the banker, accountant, attorney etc. At this meeting, carefully review all the criteria within the given category. WRITING THE APPLICATION The nominator typically compiles the nomination packet using the guidelines and formats in this document. It is important to follow the criteria since scoring is based on these factors. A sample nomination packet may be acquired by calling the NW ISBDC office at (219) DETERMINING THE WINNERS An E-Day Awards Committee comprised of individuals from the banking, accounting, legal, business and higher education communities selects the finalists. Each committee member completes a scoring sheet, assigning a numerical value to each criterion within the nomination category. Finalists are selected based on a ranking of the compiled scores. CONFIDENTIALITY The Entrepreneurial Excellence Awards Committee goes to great lengths to ensure that information contained in the submitted nomination packets remains confidential. Awards Committee members are the only people who view the information. Nomination packet also available online at The nomination process: Nomination packets can be mailed to the NW ISBDC at 9800 Connecticut Drive, Crown Point, IN or ed to northwest@isbdc.org. Packets are sorted and each member of the Awards Committee receives a set of nominations after signing a non-disclosure form. Each panel member is given one week to review the nomination packets and evaluate each nominee. Panel members meet to discuss and submit their final scoring sheets for each candidate. At this meeting, all nomination packets are returned. The NW ISBDC destroys all copies when the process is complete. It should be noted there has never been a breach of confidentiality in the history of the event. FINANCIAL REQUIREMENTS Financial information is necessary to evaluate the strength and growth of a business. However, you need only provide company financial information in a summary format. If an individual becomes a finalist, complete financial statements for the previous three years must be provided in order for the winner to continue to compete at higher levels of state and national competitions. The summary financial information requirements are shown in a form supplied in Section 2 of the nomination kit. ASSISTING IN THE PROCESS For assistance, call the NW ISBDC at (219) or northwest@isbdc.org. DEADLINE FOR SUBMISSIONS Nomination packets must be postmarked and mailed to the Northwest Indiana Small Business Development Center, 9800 Connecticut Drive, Crown Point, IN 46307, delivered to the NW ISBDC office or ed to northwest@isbdc.org by August 31, 2015.
4 THE NOMINATION PACKET Nominations must be typewritten on one side of 8.5 x 11 white stationery and collated. Incomplete nominations, such as those lacking financial statements, will not be considered. All evaluation/selection criteria must be addressed specifically (see guidelines for each category). A complete nomination packet will include in the following order: 1. COVER SHEET (included in packet) The Award for which the nomination is being made The nominee s full name, title, business and home addresses with telephone, fax and The nominator s name, title, place of business, business address, telephone and address A statement regarding any SBA assistance that has been provided (example, received a 7(a) loan, or received business counseling from SBDC) One-paragraph description of the nominee s business 2. PHOTOGRAPHS Two original photos of the nominee; or two digital photos to northwest@isbdc.org at least 300 dpi; photocopies are not acceptable. Additional photos of the nominee s company and employees are helpful. 3. NOMINATION LETTER Includes a concise statement of the qualities and performance that merit the award (not to exceed two pages). 4. BIOGRAPHY A brief biography of the nominee (not to exceed one page). 5. BUSINESS PROFILE A business profile detailing what the company sells, if applicable (not to exceed one page). 6. CRITERIA RESPONSES Evaluation criteria responses answered in paragraph form for each level of criteria specific to that award. (See guidelines) 7. FINANCIAL STATEMENTS Business financial statements for the last three years including balance sheets, profit-and-loss statements and financial reports, if applicable (not to exceed 12 pages on 8.5 x 11 paper). 8. SUPPORTING DOCUMENTATION Any other supporting documentation deemed significant by the nominator, including news clips, letters of recommendation and other evidence of the appropriateness of the nomination (not to exceed 10 pages). PLEASE SUBMIT NOMINATIONS BY AUGUST 31, 2015!
5 COVER SHEET AWARD: NOMINEE INFORMATION FULL NAME: TITLE: BUSINESS NAME: BUSINESS ADDRESS: TELEPHONE: DESCRIBE NOMINEE S BUSINESS: FAX: HAS NOMINEE RECEIVED SBA ASSISTANCE? If yes, describe type of assistance and the year(s) provided. NOMINATOR INFORMATION FULL NAME: TITLE: BUSINESS: ADDRESS: TELEPHONE: FAX:
6 SMALL BUSINESS PERSON OF THE YEAR Any individual who owns and operates, or who bears principal responsibility for operating a small business, may be nominated. Partners, who jointly own and operate a small business may be nominated as a team, so long as the number of individuals does not exceed four. A nominee for Small Business Person of the Year must own or operate a business defined as small under the applicable SBA size standards. Individuals, who have received the small business person award at the state level within the past five years, are not eligible. While receipt of SBA assistance is not required, it is preferred. Consult the ISBDC district office for assistance, if needed. EVALUATION/SELECTION CRITERIA FOR SMALL BUSINESS PERSON OF THE YEAR In evaluating the nomination, judges will look for: 1. A substantiated history as an established business: Number of years in business. Sustained expansion, addition of territories, growth in square footage occupied. Steady growth in net worth as evidenced by total assets less total liabilities on fiscal year-end annual balance sheets over three years. 2. Growth in number of employees to gauge the impact of the business on the job market. Sustained over a minimum of three years. Increase over the three years must be in excess of growth in Gross National Product. 3. Increases in sales and/or unit volume that display growth over the last three years. Consistent growth in net income as evidenced by fiscal year annual profit-and-loss statements for a minimum of three years. 4. Current and past financial performance that substantiates an improved financial position. Profit-and-loss statements for the last three years reflect sustained, upward growth. Balance sheets for the last three years show consistent increase in net worth and/or partners return. 5. Innovation of product or service that illustrates the creativity and imagination of the nominee. Specific description of uniqueness of product or service. Explanation of how product or service fits a unique niche. 6. Examples of problems faced in the nominee s business and the methods used to solve them: Specific description of financial, physical, legal or other crisis. Substantiation of the threat. Defined actions taken by the nominee to resolve the crisis. 7. Contributions to community-oriented projects that evidence the use of personal time and resources: Listing of specific contributions of money, time, or resources to charitable causes. Membership in councils, boards and clubs providing support and services to the community.
7 ENTREPRENEURIAL SUCCESS AWARD Individuals meeting the following two criteria may be nominated: They must own and operate businesses initially launched as a small business according to SBA size standards which have subsequently developed into large businesses; and they must have received SBA assistance. EVALUATION/SELECTION CRITERIA FOR ENTREPRENEURIAL SUCCESS AWARD In evaluating the nomination packages, judges will look for: 1. A substantiated history as an established business: Number of years in business. Sustained expansion, addition of territories, growth in square footage occupied. Steady growth in net worth as evidenced by total assets less total liabilities on fiscal year-end annual balance sheets over three years. 2. Growth in number of employees to gauge the impact of the business on the job market. Sustained over a minimum of three years. Increase over the three years must be in excesses of growth in Gross National Product. Increase in sales and/or unit volume an indication of continued growth over the last three years. Consistent growth in net income as evidenced by fiscal year annual profit-and-loss statements for a minimum of three years. 3. Financial reports that substantiate an improved financial position of the business. Profit-and-loss statements for the last three years, reflecting sustained upward growth. Balance sheets for the last three years, showing consistent increase in net worth and/or partners return. 4. Documentation of the type(s) and amount(s) of SBA assistance received by the business and the year(s) in which they were received. 5. Innovation of product or service offered an illustration of the creativity and imagination of the nominee. Specific description of uniqueness of product or service. Explanation of how product or service fits a niche not being adequately addressed by the competition. 6. Examples of problems faced in the nominee s business and the methods used to solve them: Specific description of financial, physical, legal or other crisis. Substantiation of the threat to the continuity of the business. Defined actions taken by the nominee to resolve the crisis. 7. Contributions to community-oriented projects that is evidenced by the use of his/her personal time and resources: Listing of specific contributions of money, time, or resources to charitable causes. Membership in councils, boards and clubs providing support and services to the community.
8 SMALL BUSINESS AWARDS EVALUATION CRITERIA SMALL BUSINESS ADVOCATE OF THE YEAR Any individual or organization dedicated to the support of the small business community in the Northwest Indiana, including, but not limited to, trade, professional or business organizations. Significant contribution to assist, promote and advocate for the interests of small business owners. Amount and quality of assistance given outside of regular business duties. SMALL BUSINESS EXPORTER OF THE YEAR Any small business individual who owns and operates a business engaged in exporting. Increased sales, profits and/or growth of employment because of exporting. Description of the products exported and markets served. Creative overseas marketing strategies. Effective solutions to export-related problems. Demonstrated encouragement of other small businesses to export. Volunteer assistance to other small businesses entering the export market. Cooperation with other businesses in the creation of export trading companies and/or introduction of unique trading relationships, products or services. YOUNG ENTREPRENEUR OF THE YEAR This individual must serve as a majority owner and bear principal responsibility for operating a small business with a two-year track record, and who will not have reached the age of 30 by June 1, Evidence of success as measured by sales/profits. Increased employment opportunities created by the nominee s business. Development and/or utilization of innovative or creative business methods. Demonstrated entrepreneurial potential necessary for long-term success and economic growth.
9 SMALL BUSINESS AWARDS EVALUATION CRITERIA MINORITY SMALL BUSINESS PERSON OF THE YEAR Candidate must be a minority under CFR, Title 13, Part 124, and serve as a majority owner bearing principal responsibility for operating a minority-owned small business with a three-year track record. Evidence of success as measured by sales and profits, including current and past financial position. Increased employment opportunities/growth in employees. Demonstrated potential necessary for long-term business success and economic growth. Innovation and response to adversity. Other accomplishments demonstrating the nominee s merit as an advocate for minority small businesses. FAMILY-OWNED BUSINESS OF THE YEAR Any family-owned and operated business that has been passed on from one generation to another may be nominated. The owner must also serve as a majority owner and bear principal responsibility for operating a small business with at least a 15-year track record. Evidence of success as measured by sales and profits. Increased employment opportunities for family members and non-family members for the nominee s business. Demonstrated potential necessary for long-term business success and economic growth. Voluntary efforts to strengthen family-owned businesses within the community. EMERGING SMALL BUSINESS OF THE YEAR Any business less than 10 years old that has fewer than 25 employees and less than $2.5 million in sales may be nominated. Evidence of consistent overall growth in both number of employees and sales. Demonstrated potential necessary for long-term business success and economic growth. Innovation and response to adversity. Contributions to the community.
10 CHAMPION AWARDS EVALUATION CRITERIA FINANCIAL SERVICES CHAMPION OF THE YEAR Individuals who assist small businesses through advocacy efforts to increase the usefulness and availability of accounting or financial services for small businesses may be nominated. Outside of regular business duties, the amount and quality of assistance given small businesses to obtain financing. Advocacy for changes in the financial services industry to assist small companies. Encouragement of the flow of investment capital to small ventures. Active support for legislative or regulatory action designed to help small firms. Other significant contributions through the advocacy efforts of the financial services or accounting industries to advance small business interests. MINORITY SMALL BUSINESS CHAMPION OF THE YEAR This award recognizes individuals who have fulfilled a commitment to support minority entrepreneurship. Nominees need not be small business owners. Nominees must be residents of, and employed in, the United States or its territories and will be subject to background checks. Small businesses owned and operated by nominees must comply with federal civil rights laws. Volunteer efforts beyond business/professional responsibilities to advance minority small business interests within the community, state and/or nation. Demonstrated efforts to improve conditions in the minority small business community as a whole, not solely for individual personal advancement. Voluntary provision of professional services to the minority small business community in a legal, legislative, managerial or financial capacity. Demonstrated accomplishments in advising minority small business groups of opportunities within the overall business community. Other accomplishments demonstrating the nominee s merit as an effective advocate for minority small business interests.
11 Cover sheet Photographs Nomination letter Biography Business profile Criteria responses Financial statements Supporting documentation Winner submitted for state nomination? 24th ANNUAL ENTREPRENEURIAL EXCELLENCE AWARDS NOVEMBER 4 NOMINATION REQUIREMENT CHECKLIST SMALL BUSINESS AWARDS Small Business Person of the Year Y Y Y Y Y Y Y * Y Entrepreneurial Success Award Y Y Y Y Y Y Y * TBD Small Business Exporter of the Year Y Y Y Y Y Y Y * Y Young Entrepreneur of the Year Y Y Y Y Y Y Y * TBD Minority Small Business Person Y Y Y Y Y Y Y * N Family-owned Business of the Year Y Y Y Y Y Y Y * TBD Emerging Small Business of the Year Y Y Y Y Y Y Y * N CHAMPION AWARDS Financial Services Champion of the Year Y Y Y Y Y Y N * N Minority Small Business Champion Y Y Y Y Y Y N * N Small Business Advocate of the Year Y Y Y Y Y Y N * N Y = YES N = NO * = IDEAL BUT NOT REQUIRED
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