Bury Free Press West Suffolk Business Award for Best New Start Up is open for nominations 2024

Becoming a master of your own destiny by running your own businesses is always going to be an exciting adventure.

The Bury Free Press West Suffolk Business Awards 2024 celebrates this journey by rewarding success for those who go on to create something truly great.

The Best New Start-Up Award is for businesses with big ambitions.

It is for businesses in West Suffolk that have been trading for less than three complete financial years.

Judges will be looking for the ‘X Factor’ in a new idea or business concept.

The award is sponsored by MENTA business support, which has helped thousands of small businesses across Suffolk and Norfolk find their feet and achieve national and international success.

MENTA, based in Bury St Edmunds, is also celebrating its 40th anniversary this year.

CEO Alex Till said: “Sponsoring the start-up award demonstrates our commitment to fostering innovation and entrepreneurship within the community.

“It provides an opportunity to support emerging businesses, encouraging economic growth and job creation.

“When evaluating start-ups for an award, several key qualities are often considered.

“Innovation: the start-up should present a unique and innovative product or service that addresses a specific market need.

“Market potential: the business should demonstrate a clear understanding of its target market, including potential for growth and scalability.

“Business model: a sustainable and well-thought-out business model is crucial, including revenue streams, cost structure, and scalability.

“Team: the founding team should have relevant experience, complementary skills, and a passion for their venture.

“Execution: evidence of progress, such as a prototype, customer traction, or early revenue, can indicate the start-up's ability to execute its business plan.

“Impact: consideration of the potential positive impact on the community, environment, or industry.

Last year’s winner was Bury St Edmunds distillery, Alkemy. Here’s what they had to say.

Alex added: “The start-up scene in West Suffolk is vibrant and growing, characterized by a supportive ecosystem that includes incubators, accelerators, and co-working spaces.

“Local government initiatives, business networks, and investment opportunities are contributing to a thriving entrepreneurial environment.

“There have diverse sectors, support networks, funding opportunities, a talent pool, events and competitions.

“Overall, the start-up ecosystem in West Suffolk is dynamic and supportive, making it an attractive location for new businesses to launch and grow.”

For all 13 categories at the awards this year - and how to enter visit: www.iliffemediapromotions.co.uk/bury-business-awards

The ceremony will take place at the Apex on October 11.

Nominations close 5pm on Tuesday, August 6.