Southwest Minority Business Owner of the Year Award

Who is eligible to apply?

To be considered for the Minority Business Owner of the Year award, the individual must serve as a majority owner (51% or more) and operator or bear principal responsibility for operating a small business in the Southwest Minneapolis area with a minimum three year track record, and must be from a designated minority group.

How Are Winners Chosen?

Finalists and winners will be selected by a panel of judges based on nomination forms received by the deadline. The judges try to select winners that best represent the award category. Generally, our judges will look for a compelling story about a Southwest Minneapolis business that has demonstrated success.

What Makes a Great Nomination?

The nomination should tell a story of the company’s path to success, obstacles overcome, unique talents, etc. Use concrete examples to show the judges how your business has made a mark on the local business community. The best nominations are clear, short and complete. They include specifics such as dates, dollar amounts and growth rates that substantiate the nominee’s success.

What Does it Mean to Be Specific?

For example, “Annie Malone opened 2 new stores and provided more than $50,000 in scholarship funds last year to local high school students” rather than “Annie Malone grew the business into the best in the area and has helped many students go to college.”

What are the Evaluation/Selection Criteria?

In evaluating the nomination packages, the judges will look at the following criteria:

  1. A description of products and services, and markets served.
  2. Innovativeness 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.
  3. Contributions to community-oriented projects — evidence of the use of his/her time and resources, including:
    • 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.
  4. Response to adversity — examples of problems faced in the nominee’s business and the methods used to solve them, including:
    • 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.
  5. Staying power and Growth — a substantiated history as an established business; including:
    • Number of years in business; minimum three years.
    • 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.
    • Growth in number of employees — a benchmark to judge the impact of the business on the job market.
    • Increase in sales and/or unit volume — an indication of continued growth over the last three years. (this can be demonstrated with annual profit and loss statements)

Deadline to Apply: End of Business on February 28, 2019
Email Applications to:

Awards to Be Presented at the Southwest Business Association Annual Meeting

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Mail us: PO Box 8932 | Minneapolis, MN 55408

Call us: +1 (612) 823-3472

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Members of the Southwest Business Association support efforts to strengthen the community connections between our local businesses and residents, encourage vibrant and engaging business areas in our neighborhoods, and continue to build a Southwest Minneapolis that we are all proud to have as an area where we live, work and play. Join us Today!

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Southwest Business Association is a 501(c)6 non-profit organization. P.O. Box 8932, Minneapolis, MN 55408

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