The last few months has seen a flurry of activity on the Business Awards scene – from Start-ups to Growth business, from Social entrepreneurs to Mumpreneurs there are so many opportunities to get your business noticed by entering a competition, being shortlisted, and potentially winning an award.
The big questions is, when there’s already so much to do in a day just running your business, is it really worth your time and effort applying? As I’ve already said there are many different competitions out there from local and regional awards to national events so the first thing to do is think carefully about which one has the ‘best fit’ for your business. For example, it might be nice to receive an award in recognition of you as a Mumpreneur, but if what you want to promote is the uniqueness of your products then going for an award such as “Made in Britain” may suit better. Equally, if you want to be known as an innovative business then applying for ‘Innovator’ awards may give you the focus you want.
There’s no denying it takes time and effort to apply for a competition so if you’ve missed the recent run of awards but are wondering whether to have a go next year, here are 10 potential benefits for you and your business:
- Raise the profile of your business on a regional or national level
- Use the application process as an opportunity to reflect on what your business is all about and clearly articulate your USP
- Revisit your business plan and map out your business metrics (how you measure success).
- Work on your business rather than in it by stepping back to look at achievements, areas for improvement, assessing how market trends and target markets may have changed
- Profile the expertise within your business to potential investors and clients
- Acknowledge the work of your team
- Gain significant PR and marketing opportunities for your business
- Gain a competitive edge over your rivals
- Give your confidence a boost
- Become a business that is in demand
Even if you’re not short-listed you will benefit from having spent some time working ‘on’ your business and you can use that knowledge to plan future strategies, identify weak areas and think about how you can make improvements ready for the next round of awards.
The majority are of competitions are free to enter but always check in case administration fees are applied. Aside from all the reasons listed above, if you win an award you will usually benefit from a superb prize package which may include a cash prize, mentoring, free PR and much more. So what are you waiting for?
For help in making the right impression with your competition application, click here for top competition tips.