Small Business News
Barclays Announces Third “Small Business Big Wins” Contest
Small businesses looking to add some bonus funds to their coffers may be interested in a newly-opened contest. Today, Barclays announced the launch of its third annual “Small Business Big Win” promotion.
This time around, the company will once again be doling out a total of $255,000 in prize money to dozens of winning businesses. One grand prize winner will be awarded $60,000 followed by $40,000 for second place and $20,000 for third place. Additionally, seven runner-up businesses will win $5,000 each and 50 sweepstakes prize winners will be awarded $2,000 each.
Submissions for this year’s Small Businesses Big Wins contest are now open and will be accepted through February 28th. To apply, small business owners can enter an essay of up to 500 words as well as a photograph that highlights their business journey. Following the February 28th submission deadline, 10 finalists will be chosen. Then, the public will be able to vote for these finalists from April 1st through April 10th. Although the top prizes will go to businesses among these finalists, all eligible submissions will be entered to win one of the randomly-selected $2,000 prizes.
Applying businesses must be owned by a legal United States resident who is at least 18 years old. Additionally, businesses must have been opened or established before January 10th, 2022 to be eligible. Furthermore, Barclays defines a small business as having fewer than 100 employees with annual business revenues of $5 million or less.
The 2023 installment of Barclays’ contest follows a successful sophomore edition in 2022, which saw more than 4,750 entrants. Last year’s grand prize went to Ashland Birth Center of Ashland, Wisconsin. Second and third-place prizes went to Nordic-Knot of Reston, Virginia and Superfit Hero of Riverside, California respectively.
Announcing the third annual Small Businesses Big Wins content, Barclays U.S. Consumer Bank’s Director of U.S. Business Cards Jill Neilson said, “The current economic climate continues to create challenges for small businesses, and we recognize that innovation and capital help provide opportunities for employment and increase our quality of life. As with the past two years, we’re excited to amplify the stories told by these wonderful small businesses and provide the winners with much needed funds.”
During the pandemic, small business contests such as these seemed to grow in popularity, with several different banks and organizations offering their own version. While things may have improved since those direst of days, it’s great to see Barclays continuing its efforts by rolling out this third contest. With significant top prizes on the line and numerous smaller prizes available to randomly selected winners, small businesses should definitely consider submitting their applications on Barclays’ site before February 28th.
