Definitions

❖ Awards Committee – refers to the organizers of the Awards program.

❖ Eligible Entrants - businesses or individuals (both formal and informal) that meet the general eligibility requirements to enter the Award and have been nominated for the Awards.

❖ Finalists - successful nominees who have won an award category and are into the final round of selection for Highest National Award.

❖ Gateway Score (Benchmark) - means the minimum score required for an entry to move forward or be considered for an award.

❖ Nominees - businesses or individuals who have met all the requirements through the final round of screening and interview process. They are contenders for the category awards.

❖ Runner Up(s) - successful finalists that make either 2nd or 3rd place in each individual category and or the Final Top 3 National Rankings.

❖ Nano Enterprises or informal businesses - are small-scale-unregistered minimally regulated ventures operated by individuals or families with limited capital and few employees.

❖ Micro Enterprises - formally registered, wholly citizen-owned business with fewer than five employees and annual turnover under K200,000.

❖ Small to Medium Enterprises (SMEs) - generally defined, SMEs are businesses with 5 to 100 employees, an asset net worth between K20,000 and K10 million, and an annual income ranging from K200,000 up to K10 million, operating formally and contributing to broader economic development.

❖ The Young Entrepreneur - entrepreneurs aged 18 to 35 who own formally registered businesses (with the Investment Promotion Authority) that have been actively operating for a minimum of three years, counted from the date of this award's publication.