SGV & Co. kicks off search for Entrepreneur of the Year

CEBU, Philippines - The country’s largest professional service firm SGV & Co. announced in a press briefing yesterday that it is accepting nominations for the search for the Entrepreneur of the Year Philippines 2013 until May 31.

Company senior director Maria L. Balmaceda said the goal is to determine the Filipino entrepreneur who will best represent the country in the annual hunt for the World Entrepreneur of the Year next year in Monte Carlo, Monaco.

The global search was created in the United States in 1986 by one of the world’s leading professional service organizations Ernst & Young to honor entrepreneurs whose ingenuity and perseverance have created and sustained successful, growing ventures.

Every year, the Entrepreneur of the Year Award is celebrated in 140 cities across 50 countries.

In the Philippines, Balmaceda said, the program was launched in 2003 by SGV Foundation, the corporate social responsibility arm of SGV & Co.

Aiming to identify, acknowledge and encourage entrepreneurial businessmen who help boost the economy and create wealth and employment for Filipinos, the Entrepreneur of the Year Philippines is said to be the most eagerly anticipated business recognition program of its kind in the country.

“We think awareness on entrepreneurial endeavors has grown by leaps and bounds since we started the program 10 years ago. I think people are recognizing the role of entrepreneurs, especially social entrepreneurs, in the economic environment,” she said.

Balmaceda also pointed out that while they have carved their own niche through this specific business award, they are not competing with other business award-giving bodies but are working closely with them instead in other areas.

Social entrepreneur Jaime Ayala, founder and chief executive of Hybrid Social Solutions, Inc. won the award last year for, among others, helping remote communities in the countryside access the power grid.

Previous awardees include Tony Tan Caktiong (2003), Socorro Ramos (2004), Lance Gokongwei (2005), Senen Bacani (2006), Wilfred Uytengsu Jr. (2007), Amb. Jesus Tambunting (2009), Tennyson Chen (2010) and Erramon Aboitiz (2011).

Caktiong, who is also the president and CEO of Jollibee Foods Corporation, eventually bested other delegates from all over the world by bagging the international award in 2004, still in Monte Carlo.

Nomination and categories

As reflected in the official nomination form, a nominee must be a Filipino citizen and an owner or manager primarily responsible for the company’s recent performance as an active member of the top management and/or Board.

The nominee must submit a furnished nomination form, the company’s audited financial statements for 2010, 2011 and 2012 and other supporting documents and essays.

After the onsite interviews that will run from June to July, a panel of independent judges will then evaluate the nominees in the areas as follows: entrepreneurial spirit, financial performance, strategic direction, global or community impact, innovation and personal integrity and influence.

The nominees may choose to vie in any of the four award categories, from which the ultimate Entrepreneur of the Year Philippines 2013 winner will be selected.

Categories include Master Entrepreneur award which is given to the individual who has maintained management excellence over a sustained period of time with the business having been founded more than five years ago.

The Small Business Entrepreneur award will be conferred to the individual engaged in industry and/or services whose total assets, excluding land, must not have a value exceeding P100 million.

The Social Entrepreneur award is given to the individual who has applied a practical, innovative and market-oriented approach to his or her business in an attempt to address societal challenges faced by communities.

On the other hand, the Woman Entrepreneur is awarded to the individual showing exemplary management excellence over a continued period of time, making her a trailblazer in her particular field of business.

A nominee may be profiled for more than one award category, the final determination of which shall be decided upon by the jury based on the quality of nominations received.Accordingly, nominees may also be re-categorized upon the discretion of the nominations committee or the judging panel.

Balmaceda hopes more businesses will be encouraged to join this year, saying that practically anyone, including the nominee himself or herself, could actually place the nomination.

This September, the official list of finalists will be revealed from among those who have gone through the nomination, interview and judging phases. The awards gala will then be held in October. /JOB (FREEMAN)