Member Article

Business Awards – Worth the effort?

Awards that celebrate the best of business are generally accompanied by a glitzy evening along with a ceremony and champagne – but are they really worth entering?

There are many awards across the UK that acknowledges the achievements of the country’s businesses, both large and small. Some of them celebrate major national and international firms, and there are also some niche events such as the Newcastle Business Awards that are designed to promote the culture and practice of businesses which work to drive social improvement in their local communities.

Each competition tends to be judged by an expert panel of business owners assessing applications made in a variety of different categories. Categories might celebrate achievement in fields like digital communication, marketing, or growth. Most also have a ‘business of the year’ with the winner often being drawn from the winners of each of the other categories.

The process of entering business awards, however, does come with a range of possible advantages – whether or not you eventually win;

• The application process can provide you with a valuable opportunity to properly appraise your business. All too often, business owners are so busy with the day-to-day running of their company that they do not get a chance to take a step back. The application process often forces you to adopt a new perspective on your business. It may encourage you to re-assess your strategic strengths and weaknesses,
• The shortlisting process itself should also be considered as a yardstick for measuring and comparing your business. Judges will consider your application in association with other organisations, usually of a similar size and in a similar field. You will therefore have an opportunity to assess your position in relation to that of your peers and competitors,
• Winning, of course, brings its own advantages. Success in reputable business awards can raise profile, and this can have a huge and positive impact on your firm. Winning clearly distinguishes you from your rivals, and this can offer a real competitive advantage when seeking or retaining customers,
• Receiving recognition as the best or most promising firm in your field can really help your case when seeking investment or attracting top quality talent,
• •As preparing entries can be time consuming it is important that you choose your battles carefully. Which awards are really worth applying for, and which ones should you steer clear?
• Not every awards process will be right for you. You need to identify those that are designed for a business like yours – and, once you have found them, you need to work out which categories you should be applying for,
• When choosing the categories, play to your company’s strengths, and decide the areas in which your business really shines. Remember to stick to the facts but in an engaging manner, attempt to tell a story, and don’t just throw a load of facts and figures into the application. A successful entry isn’t just about the bottom line or turnover - it’s about the people in the business, and what they have achieved.

Above all, whilst business accolades are there to be enjoyed, they are not the be all and end all. The process of being involved provides you with a great opportunity to properly examine your own business, so embrace that, and good luck!

The inaugural Newcastle Business Awards takes place at The Beacon, Westgate Road, on November 26th .The deadline date for entries is 30th September 2015, and full details can be found at:

www.skylightnewcastle.co.uk/newcastle-business-awards/

This was posted in Bdaily's Members' News section by The Beacon .