Budding North East entrepreneurs could win six months’ rent-free 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.
Now in its second year, the competition was set up to enable budding and fledgling entrepreneurs to turn their business ideas into reality. With difficult employment conditions, 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.
80 markets from across the UK have already signed up and committed free space to the 2010 competition, including Darlington’s weekly general market as well as its food, craft, French, Continental and Italian markets. Entrants have until 22 March to submit their applications.
Last year, North East finalist Nichola Ridley from Gateshead set up her own business Emily Rose, which designs and sells retro inspired baby clothes and accessories.
Nichola won some free trading days at Newcastle’s Quayside market, which went down a storm with the local public and since then the business has gone from strength to strength.
Inspired to set up the business after the birth of her first daughter Emily, Nichola designs the baby clothes and tasks local university fashion students to make them by hand, which they do as part of their practical projects.
Nichola’s experience on the market was so successful that she is trading again this summer and is encouraging other people who have a business idea to enter the Make your Mark in the Markets competition.
She said: “The Make your Mark in the Markets competition allowed me to trial my business idea, which just started out as a hobby after having my daughter Emily Rose.
“I found myself looking for designer baby outfits on the internet and realised how expensive they were, so I took inspiration from the different styles I liked and started to draw some designs of my own, which local university students produce for me. I sell items such as changing bags, hats, bibs, vests, bloomers, blankets and pram accessories.
“As a young mother myself I understand the pressure to keep up with the latest trends. People that buy my products can be assured they are buying original hip and trendy designs at not so designer prices.
“I decided market trading was the best option for my products. My father had been a market trader since before I remember and I have always enjoyed the hustle and bustle of the market life.
“During my free trading days I was able to see how people would react to my range, and what the best sellers were, which has dictated the styles for this summer. The competition certainly gave me that extra push I needed to make a go of the business. I don’t think I would have actually set it up otherwise and would still be sitting here dreaming of it rather than doing it.”
Commenting on the competition Darlington Markets’ manager Peter Wilson said: “We’re calling on people from the North East with ideas, energy and drive to enter this exciting competition.
“Anyone with innovative fresh ideas that they feel will benefit the local market and attract customers should give it a go – you never know they could be the next Marks and Spencer which famously started as a market stall.”
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 10 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.
Enterprise UK director of North East region Pam Hargreaves said: “We encourage anyone that 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 want to test a new concept, markets offer the ideal start -up environment.
“Lord Alan Sugar’s business empire and multimillion 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 the North East.”
Graham Wilson CEO, 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.”
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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