WHICH of East Lancashire's firms will scoop the top prize in this year's Lancashire Telegraph Business Awards 2006? We meet last year's Business of the Year - The Hurstwood Group.

Hurstwood has become a byword for business success and one of the best-known companies in East Lancashire.

Led by award-winning chairman Stephen Ashworth, the property development group has gone from strength to strength and is now made up of 15 firms with assets of more than £100million.

From its origins as a house building firm, Hurstwood is now masterminding multi-million-pound projects to transform Burnley's Weavers Triangle and Rawtenstall town centre, and owns several key properties in Blackburn town centre, including the former police station. According to Mr Ashworth, the key to the firm's success is controlled growth, and investing in projects that will bring a long-term profit.

And today he revealed how proud the company was when it scooped last year's top award.

He said: "An award establishes great credibility. The Lancashire Telegraph is the paper for East Lancashire, and East Lancashire is our back yard.

"To win an award in our home territory is really important. It establishes that we are respected in our home area.

"The Lancashire Telegraph award is a really special award because you're being recognised in your home area as doing well."

In recent years Stephen Ashworth has scooped award after award, including Young Entrepreneur from the West Lancashire Chamber of Commerce.

But, in future, Hurstwood itself is likely to become the award winner, with the company focusing on its employees.

Within Hurstwood staff turnover is very low, and according the Dominic Fussell, managing director for group (commercial), awards can help.

He said: "It sends a real buzz around the office to tell staff for what reason the award is given.

"To have that award gives you great credibility, personally and professionally."

Judges for the 2006 awards will be looking for a firm of any size, able to demonstrate a successful track record of excellence and achievement.

Last year East Lancashire transport firm Fraser Eagle were shortlisted for Business of the Year. The firm has scooped a number of big contracts including a £12million deal to become the sole supplier of taxis to train giants Virgin.