Business

THERE IS SIX MONTHS' FREE MARKET TRADING SPACE UP FOR GRABS

4 March 2010

Local budding entrepreneurs have the opportunity to win six months’ rent free trading space in their local market, as part of the annual Make Your Mark in the Markets competition.

Run by Enterprise UK, Make Your Mark in the Markets offers a low-risk opportunity to start or grow a business. The competition is now in its second year and was set up to enable budding and fledgling entrepreneurs to turn their business ideas into reality.

With difficult employment conditions a reality for many, local markets provide the ideal opportunity to turn hobbies, passions and enterprising ideas into successful businesses at the heart of the community, with minimal start up costs.

Eighty markets from across the UK have already signed up and committed free space to the 2010 competition and entrants have until 22 March to submit their applications. Last year thirteen traders were shortlisted in markets across London.

Unfortunately none of Southwark's markets are taking part in the competition, but as London is a region, local entrepreneurs can win a pitch at other markets including Deptford, Lewisham, Catford, Camden, Downham Road in Hackney, Church Street in Westminster and Surrey Street in Croydon.

Graham Wilson CEO, The National Association of British Market Authorities (NABMA) said: "The markets industry desperately needs to recruit new traders, and the Make Your Mark in the Markets initiative is an excellent way of raising the profile of markets, while attracting new entrepreneurs as market traders. Last year we launched a successful competition and we are hoping that this year we will attract even more applicants, and make the markets an attractive place to start new businesses."

The 2010 competition has grown to include two categories - the first for entrepreneurs who have been trading for less than six months and the other for those growing an existing, but still relatively young, business. One shortlisted applicant per market will win up to ten days’ free trading to prove that their product or service has what it takes to cut it in a real trading environment.

Judges will visit each stall to assess sales, customer feedback and presentation before choosing two national winners, who will receive the top prize of six months’ free trading, £1,000 towards stock, free National Market Traders Federation (NMTF) membership and a business starter pack that provides all the advice and guidance they will need to hit the ground running.

Pam Hargreaves, Director of Regions at Enterprise UK, said: "We encourage anyone who has ever considered starting their own retail business to enter the competition. Whether you're fresh out of education and buzzing with business ideas, running a small business that you would like to grow or testing out a new concept, markets offer the ideal start-up environment.

Lord Alan Sugar's business empire and multi million bag business Radley & Co, both started on market stalls. We hope Make your Mark in the Market will unearth the next generation of enterprising talent from right across Southwark."

Make Your Mark in Markets is run by Enterprise UK in partnership with the National Market Traders Federation, the Retail Markets Alliance, Association of Town Centre Management and the National Association of British Market Authorities.

It is part of Make Your Mark in Business, a wider programme of proven initiatives by Enterprise UK to tip people into self employment.

Interested applicants should visit: http://www.enterpriseuk.org/markets to complete an application form. The deadline for entries is 22 March 2010.

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