International Business of the Year
This award is open to any Hertfordshire-based business which has commenced or increased their sales and services overseas.
The economic context of the industry and business will be taken into account by the judges.
The judges will be looking for evidence that include the majority of the following:
Strategy – Evidence of an international trading Strategy and future plans.
Business Performance – Growth, sustainable and strong performance in the context of the overseas market(s) in which they have chosen to operate.
Understanding of challenges faced – Culture, politics, financial implications, currency, communications, regulatory and legal implications etc
Astute Electronics Ltd won the International Business Award in 2012
The judges said: “Astute have demonstrated significant investment in the future by developing world-class laboratory facilities for counterfeit component detection, both in the UK and in the US, giving the business a unique competitive advantage in home and overseas markets.
“The business has developed an impressive international blue chip client base, and works in a number of key overseas markets, and most recently is developing a joint venture in India.
“Financial performance has been impressive with turnover increasing by 31% between 2009 and 2011.”
Mark Shanley, Global Business Manager – Military, said: “The award means a lot to us. We’ve been in business since 1989 and this is the first year that we’ve entered the Herts Business Awards. We have been pushing the boundaries in electronics for five to 10 years and it’s good to get recognition. I have been at Astute for 18 years and our philosophy has always been to put the customer first.”