Search is on for east Manchester’s EnterPrize business of the year

New East Manchester has announced a major competition called EnterPrize aimed at new businesses in east Manchester.

Designed to promote entrepreneurial talent, encourage economic growth and help local companies grow, the winner will get a cash prize of £10,000 with a runner up prize of £5,000.

All applicants also get business advice through a series of seminars and one-to-one sessions with business experts worth an additional £5,000 to each company.

All entrants must have a business located in the east Manchester area. Applications are particularly encouraged from companies that are less than two years old.

Eddie Smith, New East Manchester's deputy chief executive said: "This is a major competition with a significant prize fund and we expect a great deal of interest from local companies. This initiative is all about helping local businesses and encouraging their growth. We have a dedicated team of business advisors at New East Manchester that offer support to businesses in the area and I'd urge anyone wanting to set up a company in east Manchester to take advantage of this free service."

All competition entrants will be invited to a seminar on business thinking where a local entrepreneur and private investor will share their experiences and give an insight into what qualities they look for in a start-up company. They will also give advice on what needs to be considered when setting up a business and helpful tips on how to write a business plan.

New East Manchester's business advisors will also be on hand to give one-to-one advice. Following the seminar entrants will be asked to produce a 10 page business plan. Ten businesses will then be short-listed and be invited to attend a one-to-one session with a business consultant.

This will be an opportunity to discuss their business in more detail, make potential contacts, obtain information on investment opportunities, review their business plan, go through their presentation and coach them on presentation skills.

They will be then be set some targets which they have to complete before the next stage. The final stage will be a presentation to a panel of entrepreneurs, business leaders and top consultants.

Each business will be judged on its own merits and how successful it has been on achieving the targets set them by the business consultant in the previous stage.

Applications can be down-loaded from www.neweastmanchester.com/theenterprize

The deadline is 25 September 2007.

Media contact:

Roz Hughes at New East Manchester on 0161 223 1155