LBA News

CBI and ICAEW Boost LBA Grand Prize

10Mar
2016

The Local Business Accelerators grand prize has been expanded to include contributions from the CBI and ICAEW as judging for the competition comes to a close this week.

The winning business will now receive £1,000 worth of business advice from an ICAEW chartered accountant and free entry to three CBI events for small businesses. That's in addition to receiving business mentoring from Dragon’s Den Star Deborah Meaden and free advertising in their local paper.

LBA judge, ICAEW business director Stephen Ibbotson said: “As the desire to create a successful start-up in the UK continues to grow, ICAEW is pleased to be involved in the Local Business Accelerators competition, which aims to shine a spotlight on the support that local newspapers can give to local businesses.

“Often, entrepreneurs’ perceptions of what they think will be the challenges they face as a start-up and the reality they actually encounter are very different. These assumptions can often lead to businesses not fulfilling their maximum potential and at worse, failing completely.  With the right advice through the ICAEW Business Advice Service, we can support the increase in the number of successful businesses in the UK and help entrepreneurs achieve their dreams.”

Chaired by Deborah Meaden, the LBA judging panel consists of CBI acting director for competitive markets Tom Thackray, Mail on Sunday small business editor Vicki Owen, ICAEW business director Stephen Ibbotson, Local Media Works chairman Craig Nayman, and News Media Association deputy chief executive Lynne Anderson.

The judges are tasked with examining the LBA nominated businesses on the originality of the business idea, their finances, the strength of their communication skills and their contribution to the local community.

Once the regional shortlist has been compiled, the People’s Choice vote will go live on the LBA site. The public will be able to view details of the shortlisted businesses and vote for their favourite in an online poll.