New start-up competition launched to encourage entrepreneurship

Marketest have launched the Business Start-Up Competition, which gives pre-startups and startups the opportunity to take their business ideas to the next level.

The company said the competition was borne out of their strong desire to encourage entrepreneurship throughout the UK.

The Business Start-Up Competition aims to support individuals over the age of 18 who have the ability to come up with a new business or social enterprise idea that has real market potential.

The participants who enter the competition will be required to produce a concise business analysis on their idea (e.g. development of the idea, USP, competitors, SWOT etc). A fully feasible business plan is not expected, just a general overview of the idea to indicate future success.

Recent research statistics showed that nine out of ten start-up businesses fail within the first five years of trading due to a lack of planning and market research.

Marketest understand the importance of reducing this figure, which is why they are offering all participants significant market research discounts and awarding the winner and runner up with £1000 and £500 tailored market research. The valuable market research prize will help transform a vision into a venture in a fun and creative way.

The deadline for submitting an innovative business idea is the April 30 at 11:59pm. Once the deadline has passed the experts at Marketest will internally shortlist the best business ideas before announcing the winner on May 21.

Entrepreneurs can find out more details, including how to apply, on the Marketest website.

Source: 26th March 2012

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