To be nominated and receive one of the following local awards, the small business nominee must fit within the category of the award, demonstrate success in business and complete and submit the required nomination package information. Incomplete packages will not be accepted.
After you read through the categories below, you can read the general guidelines and submit your nomination.
Family-Owned Business of the Year
This award honors a family-owned and operated business passed from generation to generation. The owner must also serve as a majority owner and operator or bear principal responsibility for operating a small business with at least a 15-year track record. Must have received support from the SBA or SBA Resource Partner.
Home-Based Business of the Year
This award honors an individual who has experienced the rewards and difficulties of owning a home-based business. The business must be operated entirely from home. The owner must also serve as a majority owner and operator or bear principal responsibility for operating a small business. Must be in business for a minimum of three years and must have received support from the SBA or SBA Resource Partner.
Minority Owned Small Business of the Year
This award honors a minority-owned and operated business. The minority owner must also serve as a majority owner and operator or bear principal responsibility for operating a small business. Must be in business for a minimum of three years and have received support from the SBA or SBA Resource Partner.
Rural Owned Small Business of the Year
This award honors a rural-owned and operated business. The owner must be the majority owner and operator or bear principal responsibility for operating the small business. Rural eligibility is determined by a business located in an area with less than 50,000 in total population. Must be in business for a minimum of three years and have received support from the SBA or SBA Resource Partner.
Veteran Owned Small Business of the Year
This award honors a veteran-owned and operated business. The owner must be the majority owner and operator or bear principal responsibility for operating a small business. Title 38 of the Code of Federal Regulations defines a veteran as “a person who served in the active military, naval, or air service and was discharged or released under conditions other than dishonorable.” Must be in business for a minimum of three years and have received support from the SBA or SBA Resource Partner.
Women Owned Small Business of the Year
This award honors a woman-owned and operated business. The woman owner must be the majority owner and operator or bear principal responsibility for operating a small business. Must be in business for a minimum of three years and have received support from the SBA or SBA Resource Partner.
Young Entrepreneur of the Year
To be considered a young entrepreneur, the individual must serve as a majority owner and operate or bear principal responsibility for operating a small business with a three-year track record and who will not have reached the age of 35 by June 1, 2024. Must have received support from the SBA or SBA Resource Partner.
SBA will make the above referenced awards to eligible small businesses at the Lower Rio Grande Valley District level only. Awards for Small Business Person of the Year and Exporter of the Year will be forwarded for National competition.