AN award winner from last year which was recognised for its success in overseas market is eyeing up prizes in two other categories for 2015.

Nature’s Laboratory, based in Whitby, won 2014's Dare to Export Award, and is now vying for the Family Business of the Year, and Small Business of the Year titles.

The venture was established in 2002 with the goal of discovering sustainable natural solutions to pressing health issues.

A research led manufacturing company, Nature's Laboratory focusses on producing natural medicines and skincare from both plant materials and bee products.

The business was founded by James Fearnley, whose passion for natural health stretches back more than 30 years, with he and his wife running a wholefood shop and vegetarian restaurant alongside an ethical marketing company in the 1980's.

James was joined in the business by his son Hugo in 2005 and also his daughter Cecily in 2008. As they learnt about the varying aspects of the business Hugo and Cecily steadily took on more responsibility and are now in charge of the day-to-day running of the enterprise.

With the stability brought about by the commitment of Cecily and Hugo to the company, in the last three years James has been able to step back from the hustle and bustle of daily management and focus on the strategic vision for the future of the business.

Hugo said: "In terms of the current financial picture, the business is in the enviable position of having increased sales by more than 50 per cent in the last two years, while simultaneously increasing its net profit margin, taking on two new full time employees.

"The cherry on this financial cake came only last month when Nature's Laboratory paid off its remaining bank loan, making the company completely debt free for the first time in its trading history.

"It has been a long and challenging road to get the business into this position, which has mainly been achieved through an emphasis on strong foundations in all that we do.

"We believe that success in business is always about collaboration, whether that is with customers, suppliers or colleagues.

"We also take a long term view and believe that success is best sustained when all involved are rewarded."