Entrepreneur of the Year competition still open for entries

Nimo Naidoo, project manager of the competition believes that South African entrepreneurs need to utilise every available business resource and opportunity that presents itself. "In our country's rapidly growing and highly competitive SME market, entrepreneurs are already facing a wide variety of challenges, while having to compete with the big market players of their respective industries. Entrepreneurs also face financial restrictions in attempting to promote their business and diversify themselves in a usually over-crowded market space."

Stand out from competitors

He believes that industry awards such as these are one of the easiest and most inexpensive ways for entrepreneurs to stand out from their competitors. "Entering competitions also allows entrepreneurs the opportunity to earn a credible corporate reputation or image, which can potentially be magnified by mass media exposure.

"Intangible assets, such as an excellent corporate reputation, can be used as a valuable promotional tool by entrepreneurs and, since it cannot be replicated by competitors, provides them with a sustainable competitive advantage over their competitors, which then translates into superior financial returns in the long run."

Entrepreneurs can download entry forms online at www.eoy.co.za follow @EOY_SA on Twitter or go to the Facebook page.