U.S. Chamber Names BoConcept New York Finalist for 2012 Small Business of the Year Award

WASHINGTON, D.C.—The U.S. Chamber of Commerce today named BoConcept New York, one of seven finalists for the 2012 DREAM BIG Small Business of the Year Award, sponsored by Sam’s Club®. BoConcept New York will be honored during America’s Small Business Summit, May 21–23, in Washington, D.C., where a national winner will be announced and will receive a $10,000 cash prize, courtesy of the U.S. Chamber.

“BoConcept New York is a shining example of the power of free enterprise and the opportunities it can create for America’s doers and dreamers,” said Thomas J. Donohue, president and CEO of the U.S. Chamber. “BoConcept New York is driving growth and creating jobs in the New York community and contributing to the strength of America’s economy. Our economic recovery will be fueled by small businesses like BoConcept New York and their dedicated workers. Today we congratulate them on this achievement and encourage them to continue pursuing the American Dream.”

Founded in 1952 in Denmark, BoConcept is an urban furniture company known for offering sleek styles at affordable prices. In 2002, Shaokao Cheng and his wife Niki invested all their savings and opened their first franchise. They now own eight stores, with five in New York City. In just six years, BoConcept New York has become the fastest growing and most successful BoConcept franchise in the world, with a gross revenue of their business increasing from approximately $100,000 a month to as high as $1.5 million a month. They host an average of fifty events a year through various community programs, including a Lance Armstrong Live Strong Charity event.

The DREAM BIG Small Business of the Year Award pays tribute to businesses that excel in the areas of staff training and motivation, community involvement, customer service, and strategy. One finalist from each of seven regions was selected out of the 75 Blue Ribbon Award winners. The winner will be announced at an awards luncheon on May 22.

“Small businesses are often described as the pulse or backbone of our country, and we admire the drive and initiative that it takes for their owners to be successful,” said Rosalind Brewer, president and CEO of Sam's Club. “Fifty years ago, Walmart Stores, Inc. was founded as a small business, facing many of the same challenges and opportunities then that these businesses face today. We join them in celebrating this honor and the spirit of entrepreneurship that makes these businesses successful.”

To learn more about the summit, visit www.uschambersummit.com.

Sam’s Club®, a division of Wal-Mart Stores, Inc. (NYSE: WMT), is the nation’s eighth largest retailer and a leading membership warehouse club offering superior products and services to more than 47 million members in clubs across the U.S., as well as in Brazil, China and Mexico. Members save an average of 30 percent over traditional retailers. To learn more about Savings Made Simple®, visit SamsClub.com, and look for Sam’s Club on Twitter and Facebook.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.