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16 July 2005
Standard Bank has launched an innovative award programme aimed at supporting the business sector in KwaZulu-Natal. The annual Standard Bank KwaZulu-Natal Business Growth Awards will also recognise local businesses that show growth and contribute towards the broader development of the province.
"We want to recognise those businesses that are building a solid foundation in KZN and making a contribution to the sustained economic viability of our province," says Grant Parsons, Regional Head of Standard Bank Corporate and Investment Banking, KwaZulu-Natal.
"It is important for us to showcase the achievements of those organisations that are providing secure employment and training for our growing workforce. There are also many organisations with exciting and active social responsibility programmes that do not receive the recognition that they so richly deserve.
There will be a winner and runner-up in five categories, whose names will be announced at a function in October. Companies will be required to submit financial information under six key criteria: turnover, profit, employment, social responsibility, training and equity within the company. The five categories in which the judging will take place are SMME, small corporate, medium corporate, large non-listed corporate and listed corporate.
Although there are other award programmes being run in KwaZulu-Natal, such as the Entrepreneurial Awards to the Exporter of the Year Award, there are no award programmes that specifically focus on a broad section of businesses contributing to growing the local economy.
"The Standard Bank KwaZulu-Natal Business Growth Award is open to all businesses in the province. It is not exclusive to the bank's business customers," says Parsons.
"The judging criteria have been carefully formulated to measure growth in a cross section of key indicators, such as turnover, profit, employment and training. In addition, social responsibility both in terms of rand value and time invested, will be an important element."
Deloitte has come on board to adjudicate the awards programme.
"Entries will be submitted directly to Deloitte and we will automatically place the entries in one of five turn-over based categories. This means that Standard Bank will not play a role in the judging and that all companies from SMMEs through to large corporates will have a fair opportunity," explains Andrew Waller, Regional Senior Partner at Deloitte.
A number of key provincial leaders have endorsed and expressed their support for the programme.
Parsons says: "Currently supporting over 1 500 business customers with innovative financial solutions, Standard Bank is well positioned to play an active role as a catalyst for economic revival in KwaZulu-Natal. However, a united approach to leveraging the opportunities in the province is really the only way we will achieve extraordinary results.
"Therefore, it was important for us to initiate something that fitted seamlessly with the efforts of the other provincial role players such as The Durban Chamber of Commerce, The Durban Growth Coalition and the eThekwini Municipality."
Companies can get an entry form here or from selected Standard Bank branches in the province.
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