The Formations Company Entrepreneur Award is returning for a second year, and is open to all aspiring entrepreneurs.

Entrants from all walks of life will have the chance to battle it out for a £1,000 grant to put towards developing their brilliant business idea, while also getting their company formed entirely for free.

To apply, all that is needed is entrepreneurial flair and a truly great business idea, the organisation says. You could be a student, a mum or a business enthusiast, wherever you are from in the UK and whatever you do, if you have that special business model, The Formations Company wants to hear from you.

The winning entry will take the grand prize of a £1,000 business grant and have their limited company set up for free. As the award is in partnership with Barclays, the winner will also receive an invaluable start-up package including professional guidance and mentorship to help turn the business idea into a reality.

‘Unique and ambitious’

Last year’s winner was Fergus Kennedy, a 21-year old Cambridge University Student. His business idea, ParaPatch, a social enterprise concept in which immunisations are transported to remote locations via drone technology impressed the judges for being unique, ambitious as well as potentially life saving.

Speaking at the time, Kennedy said, ‘I’m thrilled to have won – support from The Formations Company will enable me to continue exploring the newest and most exciting technologies.’

Piers Chead, CEO of The Formations Company says, ‘We expect the quality of applicants this year to be especially high – with prizes as fantastic as a mentorship package from Barclays Business and a £1,000 business grant, winning the award could truly help an aspiring entrepreneur find their feet. We look forward to helping the winning idea become a reality.’

Useful link: – Could your business use a £2,500 cash injection? See here for more information