Lexington, KY - Small, medium or large, it takes all kinds of businesses to make the world go around. According to the Small Business Administration (SBA) Office of Advocacy, 99.7 percent of all employer firms in the country have fewer than 500 employees. The same percentage holds true in Lexington-Fayette County, where 97.1 percent have fewer than 100 employees.
Since 1986, Commerce Lexington has celebrated small business in central Kentucky with an annual awards presentation. The 2010 Salute to Small Business Awards luncheon will be held on Friday, Nov. 5, at the Griffin Gate Marriott Resort and Spa. The list of categories has increased from three (minority business, independent professional, small business) to eight, but before any awards are handed out, winners have to be selected, which means business owners need to apply. Applications are being accepted from Commerce Lexington members with fewer than 100 employees through Sept. 30.
The chamber's first Salute to Small Business celebration was in 1986. Public policy representative Pam Jenkins was the owner of Jenkins Trucking Company of Lexington when she was presented with the Small Business of the Year award in 1987 by Gov. Martha Layne Collins.
"There were a lot of shell minority- and women-owned companies then," said Jenkins. "They were in a woman's name but never had a woman running it. I was the rare bird who did."
Jenkins had been active in the Washington County chamber and brought the same energy to the Lexington organization. She presented the following year's award to recipient Lee Todd and DataBeam. Being a member of Commerce Lexington is something every business should consider, said Jenkins.
"Squeeze every penny you can to join. Do that first," she said. "The networking and support are that important."
Hammond Design & Advertising won the small business award in 1996. The company's president, Kelly M. Johns, said filling out the application involved telling the "risk, hard work and perseverance" story, which is part of every successful small business.
"There are a lot of cheerleaders for small business in our community," she said. "Every small business should consider applying, and not just once. Just thinking through the application process helps put everything a business does in the proper context."
The application asks for a company description, biographical data, business profile, community service description and information germane to each category: green initiative, innovation, legacy award, minority business, nonprofit, Phoenix award, small business and young entrepreneur. The awards submission is similar to filling out a job application or request for proposal (RFP). What are the distinguishing differences that make you a stronger candidate? Play up your strengths.
The chamber's overall Small Business of the Year will be selected from the winners in all eight categories and then submitted for state and national recognition through the SBA's awards program.
The young entrepreneur category is new this year; it's for those under age 35 by June 1, 2011. The application for the legacy award is open to businesses that have been in operation for 25 years or longer, multi-generational companies or past small business winners. This category recognizes staying power.
If your business has found environmentally friendly ways to do business, consider applying for the green initiative award. Companies that are able to adopt and use technology to increase productivity are encouraged to apply in the innovation category. And if you've risen from the ashes, the Phoenix is a new award to recognize an individual business owner, volunteer or public official who has faced a challenge or disaster and emerged from it stronger.
Phil Osborne is vice chair of Commerce Lexington's communications committee, which created the additional categories to generate more entries and winners. He is also CEO of Preston-Osborne, a marketing, communications and research firm and winner of the Small Business of the Year in 2007.
"It was as much about acknowledging the contributions of our employees as anything," he said. "I've always said that the key to business success is to hire people who are smarter than you are and then get out of their way so they can do their jobs."
"As an organization, Commerce Lexington Inc. is constantly reminded of the positive impact that small businesses have on our community," said Bob Quick, president and CEO of Commerce Lexington. "Even in the midst of challenging economic times, small businesses still account for most of the job growth nationally and make up a large majority of the businesses in Fayette County. The Salute to Small Business Awards program is our way to show our support and recognize those small businesses that have contributed mightily to the success of our economy."
For more information on Commerce Lexington and to apply for the Salute to Small Business Awards, visit www.commercelexington.com.