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Winning Small Business Awards Can Boost Your Company's Credibility. Here's How to Get Started.

Entrepeneur 10 Oct 2019 05:00
Winning Small Business Awards Can Boost Your Company's Credibility. Here's How to Get Started.
Image credit: Mikolette | Getty Images

Distinguishing yourself from the competition is challenging, and if you’re a small business or startup, this hurdle is even harder to overcome. As the new business on the block, it can also be difficult to gain credibility and market share when you don’t yet have a strong track record of delivering what you’ve promised.

Winning an entrepreneurial or small business award can help a company gain recognition and credibility, and the benefits don't necessarily stop there. According to a study on U.S. businesses by British Quality Foundation, small award-winning companies experienced a 63 percent increase in operating income and a 39 percent growth in sales compared to non-winners. In other words, it can pay to win ⁠— and you can’t win if you don’t enter.

How to choose which opportunities to apply for

There are many awards for small businesses and entrepreneurs, from the well-known to the industry-specific. Avoid the urge to apply for every award you find by taking time to find the right ones for you. Consider whether you're aiming for a local, regional or national award. This decision will determine the size of the competition pool and exposure. Local award opportunities may be offered by your Chamber of Commerce or other organization. 

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USFunderaChamber of CommerceBritish Quality FoundationSBA