First Voice Of Business

NEW RESEARCH AMONGST RECENT WINNERS OF The Queen's Awards for Enterprise - one of the UK's top business accolades - has confirmed the powerful  impact that winning a Queen's Award can have on a company's fortunes.

Of 172 winning companies  surveyed, some 80 per cent reported that winning a Queen's Award had resulted in a significant boost to staff morale, while 65 per cent felt they had benefited from positive press coverage about their win. Furthermore, 55 per cent of winners felt their company had gained from increased recognition in the UK, and 45 per cent had experienced increased recognition for their business overseas.

Winners also reported a direct benefit on their business competitiveness, with 28 per cent feeling the Award had given them an edge over their competitors and 10 per cent reporting increased new business as a result of their award.

Among other factors, the right for winners to use the coveted Queen's Awards Emblem in their marketing was also seen to be a significant benefit. Some 88 per cent of winners felt this was either very valuable or fairly valuable to their marketing efforts.

Overall, almost one quarter of winners (24 per cent) felt that the impact of winning a Queen's Award had exceeded their expectations.

Steve Brice, acting Secretary of The Queen's Awards Office, said: 'We have always known that a Queen's Award is more than just a prestigious honour - it also brings genuine business benefits to winning companies. This new research clearly demonstrates the continuing value of a Queen's Award to today's top UK businesses." The new findings came as organisers prepared to announce the winners of The Queen's Awards for Enterprise on 21 April 2003. Awards are made annually in three categories: International Trade, Innovation and Sustainable Development. Each year, winners range from small enterprises to some of the largest employers in the country.

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