Banking firm Citizens has opened submissions for its seventh-annual Small Business Community Champion Award Contest, aiming to honor the entrepreneurs making a positive impact on their local communities.
As part of the program, 30 small businesses meeting specific criteria receive $10,000 each, giving them vital funding to grow their brands, better serve their customers, and offer even more support to their local communities. Over the last seven years, Citizens says it has awarded a total of $1.2 million to 112 recipients.
The award predominantly focuses on entrepreneurs from underserved communities, reflecting the improving diversity of the small business community itself. In the past, the contest has typically reserved 10 spots for minority-owned companies and an additional 10 for women-owned companies. For the first time this year, Citizens has also reserved another five spots exclusively for veteran-owned businesses.
Award submissions are open now until February 1, 2024, at 5 p.m. ET at www.businesschampion2024.com. Applications must include answers to two questions:
1. How would you use the Citizens Small Business Community Champion Award to strengthen and sustain your business? (100-word maximum)
2. How would you use the Citizens Small Business Community Champion Award to support your community’s growth and their evolving needs and behaviors? (150-word maximum)
Applicants must also meet the following eligibility requirements to qualify for an award:
1. They must be at least 18 years old.
2. Their business must make no more than $3 million in annual revenue.
3. Their business must be at least two years old.
4. Their business must have at least five employees (full or part-time) or contractors on payroll for the majority (51%) of the year.
5. Their business must have an account with Citizens Bank or be based in Citizens’ footprint in the following states: CT, DC, DE, FL, MA, MD, MI, NH, NJ, NY, OH, PA, RI, VA, and VT.