Growing Business Award Dameon Layt

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Growing Business Award

This award has been designed to provide the support and guidance for the development of new businesses or a step change in existing businesses. Through the provision of training, support and mentoring the applicants will be guided to create a robust business case which will be judged and the winning proposal will secure the financial and business support they need to get the business moving forward.

The Competition Cycle

The application process will follow a set format each year. This format is designed to fit both with the farming and business commitments of the applicants and provide the time and skills to develop the business case.

Expression of interest: During August of each year applicants for the competition will arrange a meeting with Michael Mack to discuss their ideas and the rules of the competition. This will lead to the identification of a range of training activities and support each contestant will need.
Support Programme Created: Based on the information gained from the individual meetings a full programme of meetings, training and mentored activity will be set up. This will include sessions on business planning, financial modelling, risk management, market research and marketing. This will also include the selection of appropriate mentors for the contestants. The mentors will be drawn from the local business community and act as a sounding board for the applicant.
Delivery of Support Programme: Between October and May the support programme will be delivered.
Project Presentations: Each applicant will present their proposed business to the existing Growing Programme members and the panel of judges. The judges will then interview each applicant. This will take place in early June.
Submission of Business Plan: A final draft business plan will be submitted at the presentation. There will be one week after the presentation for final changes to the business plan before it is finally submitted to the judges.
Judgment: The judges will have two weeks to review the business plans and award the prize. This will be awarded at the Royal Norfolk Show.
The Prize

The prize is to be made up of two distinct elements.

Financial contribution to the business of £5,000, which has been donated by:
The Clan Trust
Norfolk Farmers Trust
Philip and Elizabeth Rackham Charitable trust
Royal Norfolk Agricultural Association
Anglia Farmers Ltd

Business Support: The support will include a range of professional services including accountancy, marketing, banking and web development. This will ensure that the business has the best possible starting with all the relevant guidance they need to ensure the business is set up as strongly as possible.
It is hoped that through the support and guidance given in developing the business plan some of the other applicants who do not win the prize do move forward and set up their proposed businesses.

The Judges

The competition will be judged by a panel of experts who will all focus on different skill area.

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