Citizens Bank has announced that the annual Small Business Community Champion Award Contest is now open for eligible small businesses. now in its sixth year, the award aims to recognize the positive contributions that small businesses make to their communities.
The grant will give $10,000 to 30 small businesses across Citizens’ reach, including ten minority-owned and ten women-owned businesses.
$10K Citizens Bank Small Business Champion Contest
To be eligible businesses should be for-profit small enterprises with a minimum of five full-time or part-time employees or contractors for at least 51% of any calendar year and annual revenue of up to $3 million.
In addition, businesses must either be Citizens Bank’s business banking account holders or be located within states Citizen bank has a presence. To enter, qualified businesses can apply at the Citizen bank’s business champion link by February 7, 2023, and enter for a chance to win $10,000.
Citizens established the Small Business Community Champion Award program in a bid to support communities and small businesses. To date, the program has awarded approximately one million dollars, assisting 82 small businesses in expanding their operations, offering quality products and services to clients, and supporting community progress.
The Perks of Grants and Awards
Grants and awards can help strengthen your business. Especially if you find it challenging to fund your operations and find it difficult to gain loans. Grants and awards are effectively free money and can be a great way to start and expand your business without having to put your future in debt.
Businesses might qualify for grants and awards for a variety of reasons, including supporting specific initiatives, and programs or meeting certain ownership requirements that could be a minority or women-owned business. Grants and awards are funded by a number of government, nonprofits, and commercial groups for a wide range of initiatives and programs.
Besides the financial incentives, there are numerous advantages. Some of them include reputation and recognition from your peers and industry. It offers you excellent PR and media possibilities that build your credibility and social proof.
These all add up to the public’s confidence in your business and an endorsement that you are doing the correct thing. In addition to helping your business expand, awards raise employee spirits as your team enjoys its accomplishments. You have a greater chance of attracting and keeping workers willing to work for your well-respected company by consistently lifting the bar higher than your competitors.
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