With this year’s ‘Top Gun’ now officially unveiled, there will be many Growing Business readers eyeing next year’s Young Guns Awards and wondering what it takes to be shortlisted, or even win.

So what are the judges looking for? As accountants who work with a number of start-ups, young entrepreneurs and serial entrepreneurs we have a well-trained eye when it comes to identifying the best growing businesses. In our two years as judges, we’ve found that the winners, and those that have been just pipped at the post, have all had a number of things in common.

As a judge, there is pressure to not get it wrong. The best way to put the judges at ease is to present solid figures. The most eye-catching figures will always be growth in turnover and profit, in percentage terms. If these figures are impressive you have a great chance of being shortlisted.  

Like investors, some judges will err on the side of caution and will be more reassured by consistent and sustained growth than overnight success. Massive turnover in the first year will always wow the judges, but steady growth over a three to five year period is seen by many as a better indicator of a business’ foothold in the market and chances of future success. These figures can of course be misleading. Many businesses will go through cycles of investment, so significant increases in staff or acquisition of premises will all make a good impression on those judging the business.

Judges will rely, to an extent, on instinct. It is important that they ‘buy in’ to your business and feel the product, model, or service you are offering is outstanding. Current economic conditions are not ideal for business owners, so there has to be a genuine gap in the market.

In our two years as judges the field has been very competitive so we wish all applicants the best of luck for next year.

Jeremy Beard is a partner at haysmacintyre
 www.haysmacintyre.com