With 2012 now well and truly upon us, at Lloyds TSB Commercial we are continually looking forward to the months ahead.

Figures published in 2011 by Eurostat showed that the area covering Oxfordshire, Berkshire and Buckinghamshire was ranked 10th highest in the whole of the EU in terms of Regional Gross Domestic Product (GDP) per head of population, with the area being recognised as the most dynamic and competitive sub-regional economy in the UK outside of Central London.

This means that there are many opportunities for small and medium sized enterprises (SMEs) in Oxfordshire to grow and expand in 2012, with the right help and guidance.

At Lloyds TSB Commercial, we are proud of the support we have given to businesses to help support the economy. At the end of last year, for example, we announced a pledge to lend £12 billion in 2012 to help support SMEs across the country, to help rekindle business confidence, stimulate demand for finance, and fuel economic growth.

We met our 2011 Project Merlin commitments, under which the participating banks agreed to
jointly make available gross new lending of £190 billion to creditworthy UK businesses, including £76 billion for SMEs. We have done this while maintaining a focus on responsible lending.

In July last year, research carried out by Lloyds TSB Commercial showed that 70 per cent of firms in the South East believe it is important for banks to simplify banking charges. This prompted the launch of Lloyds TSB Commercial’s Monthly PricePlan tariffs, which offer simple charges for business banking customers, with increased choice and flexibility. These tariffs can present an ideal choice for SMEs in 2012.

We also appreciate the importance of start ups to the country’s economy, and so in 2009 we pledged to support the launch of 300,000 new businesses by the end of this year. As of November 2011, we had supported more than 200,000 of these firms.

A large source of the nation’s start ups is universities around the country, with many students and recent graduates launching successful businesses every year.

To recognise this success, 2012 sees the first ever Lloyds TSB Enterprise Awards, launched to search for the small business stars that are emerging through universities in England and Wales. There are currently more than 55,000 businesses being run by current or recent graduates.

There are two awards – Best Enterprise and Best Start Up – up for grabs, which will be contested at a series of regional heats, with winners of both awards in each heat to be announced this month. The regional winners will then move forward into a national final, in March 2012, where they will compete for national titles.

The business judged Best Start Up in the country will scoop a cash prize of £10,000, with the owners of the Best Enterprise claiming an investment of £50,000 into their business.

Dave Atkinson, area director for Lloyds TSB Commercial in Oxfordshire, said: “As small businesses play such a vital role in the region’s economy, we know how important it is to support these enterprises and the people who run them.

“Universities are a major source of the next generation of business talent, and through their innovation and creativity these budding entrepreneurs can help the UK continue to prosper in a highly competitive world.

“We launched these awards to celebrate their successes and hopefully inspire others.”

Follow the progress of the Lloyds TSB Enterprise Awards here: lloydstsb.com/enterpriseawards