LEXINGTON, Ky. (June 6, 2014) — Commerce Lexington Inc. began honoring the contributions that small businesses have on our economy in 1986, and since that very first Salute to Small Business event, the impact of small businesses on the global economy has become even greater. In fact, small business owners have accounted for more of the job growth in our country over the last decade than large companies.
Consumers rely on small businesses for everything from home repairs to dry cleaning to computer maintenance to lawn care, and when people find one they love, they are loyal for a lifetime. Commerce Lexington recently reformatted its Salute to Small Business Awards program, adding more and better defined award categories, more inclusiveness among the small business community, and the opportunity for state and national recognition.
Small businesses can apply for awards in the following categories: Green Initiative, Innovation, Legacy Award, Minority Business, Nonprofit, Phoenix Award, Business Success, and Young Entrepreneur. Descriptions and eligibility for each award, as well as a downloadable Salute to Small Business Awards Application, are posted online. The deadline to apply for the 2014 Salute to Small Business Awards is Thursday, July 31.
The names of the category winners are released about a month prior to the Salute to Small Business Awards Luncheon. The Commerce Lexington Inc. Small Business of the Year is then selected from the category winners and announced at the awards luncheon presented by Forcht Bank on Friday, Sept. 26, at the Keeneland Entertainment Center.
Eligibility for awards
Businesses must be active members of Commerce Lexington and must have completed three or more full years of operation and have fewer than 100 employees. Small businesses can apply for more than one award category, but can be a finalist for only one category. Past Overall Small Business of the Year Award recipients are not eligible to reapply for five years from the date of their award presentation.