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CommBank Young Hero Awards are open for nominations, featuring four new categories this year. The 14 categories aim to honor Australia’s young entrepreneurs and business leaders. Winners will be revealed at a Gala dinner during the opening of CommBank SmallBiz Week 2024, attended by the small business community, VIPs, media, and relatives.
The grand prize in the individual category, this award recognises outstanding leadership, business success, and strategic vision of an individual entrepreneur.
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Judging criteria:
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Judging criteria:
Judging criteria:
Evidence of marketing campaign success: include metrics such as sales generated, social media growth, increased brand awareness, website traffic, or other proof of a successful marketing campaign in the last 1-2 years.
Effectiveness in reaching target audience: demonstrated by showing that the marketing campaign was effective in reaching its target audience with customer growth or brand awareness.
Ahead of the competition: demonstrated by showing that the marketing campaign was unique and innovative, and that it stood out from the competition by successful penetrating new consumers.
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Proof of high employee satisfaction: This could be demonstrated by evidence of high staff retention, employee surveys, employee engagement metrics, or other proof that employees are satisfied with their jobs in the last 1-3 years
Evidence of employee-centric business model: Evidence of a strong focus on employee well-being and satisfaction, such as competitive salaries and benefits, flexible work arrangements, and employee health and wellness programs.
Proof of commitment to employee well-being and inclusivity: Evidence of a commitment to diversity and inclusion, such as a diverse workforce, inclusive hiring practices, and a workplace where all employees feel valued and respected.
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Proof of product innovation and success in the market: Evidence of a truly innovative product that meets a real market gap. This could include demonstrating how the product is unique and different from existing solutions with strong uptake from consumers.
Evidence of product success: Evidence of product uptake and success in the market, such as sales generated, customer feedback, and industry recognition.
Innovative product design: Demonstrate a unique, well-designed product with clear and concise demonstration of the product’s innovative features and benefits, detailed overview of the product’s technology and how it works.
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Evidence of rapid growth: Evidence of fast growth within the last 24 months, such as revenue growth, customer growth, and employee growth. This could include metrics such as percentage increase in revenue, number of new customers acquired, and number of new employees hired.
Proof of profitability: Evidence of profitability and successful growth, such as profit margins, sales generated, and financial statements. This could include metrics such as net profit margin, gross profit margin, and return on investment.
Scalability and resilience: Evidence of the company’s ability to scale and maintain its growth trajectory and the plan for future growth, as well as how it has overcome challenges in the past.
Judging criteria:
Evidence of rapid growth: Evidence of fast growth within the last 24 months, such as revenue growth, customer growth, and employee growth. This could include metrics such as percentage increase in revenue, number of new customers acquired, and number of new employees hired.
Proof of profitability: Evidence of profitability and successful growth, such as profit margins, sales generated, and financial statements. This could include metrics such as net profit margin, gross profit margin, and return on investment.
Scalability and resilience: Evidence of the company’s ability to scale and maintain its growth trajectory and the plan for future growth, as well as how it has overcome challenges in the past.
Judging criteria:
Evidence of high customer satisfaction: Evidence of high customer satisfaction ratings, such as Net Promoter Score (NPS), customer satisfaction surveys, and customer reviews.
Customer-centric business model: Evidence of a commitment to putting the customer first, such as customer-centric values and strategies, and customer feedback mechanisms.
Customer service excellence: Evidence of outstanding customer service and customer experience, such as well-documented case studies, customer testimonials, and employee training programs.
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Proof of family-led business power-sharing: Evidence of a strong family culture and a commitment to power-sharing of family members within the business.
Evidence of business success: Evidence of business success, such as profits, market share, or industry recognition. This could include metrics such as revenue growth, profit margins, customer satisfaction ratings or strong customer base.
Community building and economic contribution: Evidence of the business’s contribution to the local community and the Australian economy, including metrics such as the number of jobs created, involvement in community initiatives and its support for local suppliers.
inspiration and recognition at the CommBank Young Hero Awards dinner as we honour the outstanding achievements of our young entrepreneurs!
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