Summary Started in 1981, the Small Business of the Year Awards program was implemented to recognize outstanding Tampa Bay area small businesses (250 employees or less) which make up nearly 90 percent of the Greater Tampa Chamber of Commerce s membership. The awards process spans eight months, culminating in an awards banquet that is the highest attended Chamber event of the year. The finalists, semi-finalists and winners of these awards receive copious exposure throughout the judging process via newspaper advertising, editorial coverage, on-line postings, the Chamber s quarterly printed newsletter and weekly electronic newsletters, the judging process, in-house signage, a finalists luncheon and the awards banquet. The 2010 event generated a profit of $50,000.
Synopsis Needs Identification The need for the Small Business of the Year Awards is to provide recognition for those small businesses and their leaders who have excelled in the areas of growth, innovation, community involvement, ethical business practices, and the ability to overcome adversity. Provides an opportunity for Chamber members to become more involved by participating on the Awards Committee, which has the greatest number of participants of all Chamber committees. The Awards program ties into the Chamber s overall mission to Serve our members and enhance our community by building business success by providing a program that offers exposure for members, resulting in their business growth. Plus, it s specifically geared to recognize those businesses that make up the majority of our membership. The proof that the program is needed and appreciated is evident in the high committee participation, the overwhelming sponsorship response and the fact that it is the highest attended Chamber event of the year. Plus, this program recognizes excellence in the core of our membership base small businesses. Objectives Recognize excellence in the small business community Generate revenue Provide a program that offers exposure for members, resulting in business growth Target audiences include local business representatives for committee participation; local small businesses for nominations and businesses and organizations for sponsorship opportunities. The objectives of the program are relevant to the target markets and the Chamber because the majority of our membership is small businesses. The ones who are finalists or winners are recognized for their achievements and also receive tremendous exposure from the program. The companies that sponsor this event garner copious exposure with the core of the Tampa Bay business community. The members who volunteer on the committee have the opportunity to get involved in their local business community and make contacts within a group of like-minded individuals. Communication Piece(s) The Small Business of the Year Program is promoted via the Chamber website, print advertising, electronic and print flyers, the Chamber s electronic and print newsletters, signage, banquet invitation and banquet program. The theme for 2010 was Symphony of Small Business Success as we were looking to capture a sense of elegance and sophistication. The theme was reflected in the creative execution of multiple pieces including applications,
invitations, programs, advertisements and event signage. At the actual event, the theme was depicted via a red carpet entrance, a grand piano photo opportunity, symphony music and an orchestral rendition of the national anthem performed by the Florida Orchestra, and sheet music awards for the winners. Methodology The Small Business of the Year Program rolls out over eight months. The initial phase in the winter/spring consists of a call for nominations which are solicited via the Chamber s newsletters, newspaper advertising, print flyers, banner ads, website and word-of-mouth. 2010 brought in 250 nominations. The second phase is the application process in which nominees are required to submit a written application for the category which applies to their business - 5-20 employees, 21-50 employees, 51-250 employees or business leader. In 2010, 65 of the nominated companies completed the extensive application process. Once applications are received, the judging process begins its threestage process application review, interview and site visit. Finalists are whittled down at each judging phase resulting in the four winners (one in each category) who are announced and awarded at the banquet in the fall. Finalists at each phase are publicized via the Chamber s newsletter, office signage, newspaper coverage, committee efforts and the Chamber s website. Banquet sponsorships are solicited via one-to-one contact. The solicitation of nominations is primarily handled by the committee members, Chamber members and Chamber staff. The judging process is solely performed by members of the committee who are carefully chosen for the different phases to ensure a fair balance in the types of representation within the judging panels. The Chamber staff tallies the results. The event execution and marketing is managed by Chamber staff. Evaluation Objectives we recognized five well-deserved small businesses (a tie occurred in the 21-50 category); we garnered exposure for the finalists, semifinalists and winners; and we had an increased response to our nominations, applications and subcommittee. Results we made a nearly $50,000 profit from this event; we exceeded expectations for nominations and applications; event attendance was comparable to 2009 despite difficult economic times; and we had the largest committee participation.
Budget REVENUE Presenting Sponsor @ $20,000 $ 20,000.00 Semifinalist Luncheon Diamond Sponsor @ $7,000 $ 8,000.00 Platinum Sponsor @ $5000 $ 15,000.00 Diamond Finalist Recpt. Sponsor @ $3,000 $ 3,000.00 Gold Sponsor @ $2,500 $ 60,000.00 Silver Sponsor @ $1,500 $ 13,500.00 $ 119,500.00 IN KIND SPONSORS Aramark/Tampa Convention Center In-kind (Gold) $ 2,500.00 Video In-Kind (Still Moving) (Gold) Special Section In-Kind (Tribune, Platinum) Photographer In-Kind Centerpieces In-Kind Diamond Finalist Recpt. (Bank of Tampa) In-Kind $ 5,000.00 AV In-Kind (AVI - Platinum) $ 6,500.00 $ 14,000.00 Semifinalist Luncheon Guest Admission @ $25 $ 2,590.00 Member Corporate Table @ $875 $ 21,875.00 Member Admission @ $80 $ 4,880.00 Potential Member Admission @ $100 $ 300.00 Potential Member Corporate Table @ $1000 Ads for Event Program $ 750.00 $ 30,745.00 TOTAL REVENUE $ 164,245.00 EXPENSES AV $ 31,000.00 A/V staff meals $ 782.67 Awards - Winners (Frames) $ 500.00 Award - Mayor Award $ 100.00 Award - Finalist $ 895.75 Bar Service $ 2,332.60 Champagne toast $ 382.12 Decorations - Grand Events $ 4,066.28 Electricity, Ballroom fee, EMT, Front Drive Ambassador, Risers $ 2,103.62 Food 775 @ $42.45 $ 36,945.44 Invitation Postage $ 1,062.48 Lunch meetings/ judging $ 243.09 Mileage Printing Invitations $ 1,703.44 Printing Programs Semifinalist Luncheon-Maestro's @ $19 $ 3,800.00 Signage $ 400.00 Staff Luncheon
Video $ 7,000.00 Miscellaneous Wine per table (2 bottles) $ 6,185.54 Orchestra St. Petersburg Times Craft wrap; pending sponsor ads $ 1,000.00 $ 101,503.03 IN KIND EXPENSE Aramark/Tampa Convention Center In-kind (Gold) $ 2,500.00 AV In-Kind (AVI - Platinum) $ 6,500.00 Finalist Reception In-Kind $ 5,000.00 Special Section In-Kind (Tribune, Platinum) Video In-Kind (Still Moving) (Gold) $ 14,000.00 TOTAL EXPENSES $ 115,503.03 EVENT NET PROFIT/LOSS $ 48,741.97