November 20, 2013

Retail News

A deli for dogs, a bookshop with café and an upmarket knitting shop…these are just some of the candidates who went before Nottingham ‘dragons’ this week  – to try and win £10,000 in funding to launch their retail businesses.

There were ten finalists in the city-wide competition called Inspiring Retail Nottingham 2013. They had been whittled down from 49 applicants overall and this week, city business bosses or ‘dragons’ selected the winning two.

Inspiring Retail is an ingenious collaboration of Nottingham City Council, NBV Enterprise Solutions and five private sector organisations – Yorkshire Bank, property consultants FHP, law firm Fraser Brown, accountants Smith Cooper, creative agency RizkMcCay and PR agency Cartwright Communications.

The unique initiative was launched in the summer and was designed to help new retail talent turn promising ideas into reality.

David Hargreaves of FHP said: “The judging panel was bowled over with the number of amazing ideas for new retail outlets in the city. It was a difficult task but we had to find the two winners this week – one in the age 30 and under category and one in the over 30 category.”

The competition was set up as Nottingham wanted to produce a creative scheme in spending some of the grant awarded as part of the High Street Innovation Fund, which was distributed to towns and cities following retail expert, Mary Portas’s, review of town centres.

As well as the £10,000 prize, the winners will also get the panel’s support- worth an estimated £50,000- for 12 months. Out of the ten finalists, the two winners have been picked for their ambition and motivation to develop a sustainable and innovative business, which will add value to the city centre offer. 

The two winners of the competition will be revealed at a special ceremony at Nottingham Trent University next week (26 Nov).

Councillor Nick McDonald of the city council, said: ‘’This is a truly unique and exciting collaboration between the city and the private sector partners who are all passionate about helping new businesses – and breathing new life into Nottingham’s shopping streets.’’

The Inspiring Retail competition has also gained additional supporters; with Derbyshire and Nottinghamshire Chamber of Commerce, Nottingham Trent University, the Nottingham BID and media partner the Nottingham Post backing Inspiring Retail.


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