A Newport firm providing learning and development programmes to supplement in-house training schemes has fought off stiff competition from young companies across the UK to reach the final 50 in HSBC's search to find the nation's brightest new business.
Acorn Learning Solutions is now hoping to go on and scoop the coveted title of HSBC Start-Up Star 2005 and the top prize of £20,000.
A group of four shareholders started Acorn Learning Solutions in August 2003 after spotting a gap in the market.
The new company was formed by merging the vocational training arms of two existing companies - Acorn Recruitment and Lexicon - and aims to become a national work-based training provider, complementing the other services offered within the Acorn Group.
Managing Director Stephen Thomas is supported by Corporate Development Director Helena Williams and Commercial Director Sarah John in their bid to offer training options that meet the individual needs of their clients. The use of laptops for both training and on-line testing means that courses can be completed 'on the job', maximising training budgets and delivering vocational qualifications with minimal disruption.
The business is growing mainly through word-of-mouth referrals, supported on a local basis with targeted marketing materials. The strategies are obviously working, with last year's turnover figures approaching £2.7 million.
Simon Wainwright, head of business banking at HSBC Bank, said: "Having helped over 200,000 new businesses get started in the last two years, we know that going it alone isn't easy, and hope that recognition of Acorn Learning Solutions' success in the HSBC Start-Up Stars Awards will help them go from strength to strength.
"Hundreds of young companies across the UK have blown their own trumpet and shared their success story with HSBC this year. We hope that the achievements of Acorn Learning Solutions will help us inspire other budding business owners in Newport to turn their business dreams into reality."
HSBC, the 'Best High Street Bank for Small Businesses' according to the Forum of Private Business, launched the 2005 Start-Up Stars Awards in March and challenged the owners of businesses less than three years old - whatever the firm's size and turnover - to demonstrate they have the skills, inspiration and tenacity to succeed.
Ten finalists will share prizes worth over £65,000, including HSBC's £20,000 and £5,000 cheques for the winner and runner-up. Each finalist will also receive £4,000 worth of consultancy and software courtesy of Croner Consulting, and Intuit.
The ten finalists, to be named in July, will face a judging panel at HSBC's Canary Wharf headquarters in September. The panel is looking for the firm which can prove it has the ideas, skills and determination to succeed - whilst recognising that it may not necessarily be profitable in the early stages of its development. The winner and runner-up will be announced before an audience of 300 leading businessmen and women on Thursday 13th October at London's Savoy Hotel.
For information on how to get a business off the ground, would-be entrepreneurs can order a copy of HSBC's free Starting a Business pack by visiting www.ukbusiness.hsbc.com.
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