LOCAL entrepreneurs who want to be recognised publicly for their business successes are being invited to apply for the Entrepreneur of the Year Award 2008.

Applications for the awards - into their 20th year now - opened yesterday. The Association of Small and Medium Enterprises (Asme) and the Rotary Club of Singapore jointly launched the awards at The Lexus Showroom.

Candidates face a rigorous judging process by a panel before the top entrepreneurs are chosen. Out of those chosen, an overall winner and four sub-category winners will be selected.

Mr Kurt Wee, a co-chairman of the awards, hopes this year's event will attract at least 60 to 80 nominations. 'An entrepreneur's success is still very much dependent on his or her own innovative capacity and ability to embrace change in a dynamic business environment. The award seeks to recognise those who succeed.' he said.

Mr Wee highlighted the recent trend among companies to expand regionally and noted the increasing importance of entrepreneurs giving back to the community - both important criteria for this year's awards.

Hence, this year's judges will be looking for socially responsible entrepreneurs who are able to create a thriving regional business.

Mr Suresh Keerthi, another co-chairman of the awards, believes 'the process of competing for the award is also an introspective one, in that the business learns from the experience'. He said the the judging process was like free consultation for the companies under selection.

Previous winners include Mr Chan Chong Beng of interior furnishings firm Goodrich Global, Dr George Quek of BreadTalk Group and Mr Karsono Kwee, who runs automobile distributor Eurokars.

Ms Rachel Swee, the first recipient of the award, says it gave her firm immensely beneficial exposure and publicity. For Mr Chan, the award helped unite his staff and boost his sales.

This article was first published in The Straits Times on May 22, 2008

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