Today sees the launch of the third annual Private Business Awards which were set up to celebrate the best of private business in the country and recognise its importance to the UK economy.

Private businesses are encouraged to nominate themselves for the awards, which are sponsored by PwC, in association with HSBC Private Bank and recognise excellence in areas such as technology innovation and exporting. They also recognise the diverse nature of private business with the ‘Private Business woman of the year’ award and the ‘social enterprise of the year’ award. With a recent PwC survey of family businesses showing they feel like the ‘unloved’ sector of the UK business world, the ‘Family Business of the year’ award – last year won by facilities management company OCS – goes some way to giving them the recognition they deserve.

Last year’s winners, who were selected from 450 nominations, demonstrated the breadth of industries in the private business world with JCB, who won private business of the year, sitting alongside Mind Candy, the creators of Moshi Monsters, who won the Rising Star of the year award. These two companies also serve to show the success of the more traditional industries alongside digital innovation.

On receiving the award last year, Alan Blake, CEO of JCB Excavators Ltd said:

"It's a great honour, amongst so many private businesses, to be voted Private Business of the Year. It spurs us on to achieve even greater things. We believe in family businesses as the principle wealth generator of the economy and we are proud to be at the heart of that effort."

The judging panel draws on the knowledge and experience of well known personalities from the world of business, including Sir Charles Dunstone, CEO of the Carphone Warehouse Group, Paul Dreschler, CEO of Wates Construction group and David Suddens, CEO of Dr Martens.

Speaking about the awards, Ruby Parmar, partner and leader of PwC’s private business practice commented:

“Over the past three years, it’s been really inspiring to hear about the journeys private businesses have been on. We know how important private businesses are to the recovery of the UK economy. These awards celebrate those companies who have been leading the way in a difficult economic environment.

“We look forward to hearing more about the innovative ways private businesses have been navigating these turbulent times and encourage businesses to put themselves forward and tell us their story.”

Charlie Hoffman, Managing Director, HSBC Private Bank (UK) Ltd added:

““A challenging economic environment often marks a period of transformation for the UK business landscape and acts as a catalyst for growth for entrepreneurs and small businesses.

“At HSBC Private Bank we recognise that private businesses are an integral part of the UK’s economy and we are delighted to be involved in the only national awards in the UK which celebrate and showcase the private sector’s achievements and success.”

Companies can find out more about the awards and self nominate at www.privatebusinessawards.co.uk and should follow @PBA_Awards on twitter to find out more about the awards. The winners of the Private Business Awards will be announced at a dinner to be held at The Guildhall, London on Wednesday 11 September 2013.

ENDS