1. Boost your brand visibility and credibility

Awards act as a third party stamp of approval. A win or finalist status gives your business instant credibility with customers, partners and even investors. According to one study, award winning companies outperform others by 17% in sales and 36% in market value over three years. That kind of validation sets you apart, especially in competitive markets.

2. Gain fresh marketing and PR opportunities

Every stage of the awards process is story-worthy: applications, shortlist announcements, and especially the big reveal. Share the journey on your website, emails, and social media to capture attention and maintain momentum . After winning, use press releases, banners, even updating email signatures. It all adds up to valuable exposure. 

3. Sharpen your business strategy

Applications demand you reflect on what makes your enterprise unique, including your models, metrics, and ambitions. As one winner said, even finalising the application helps sharpen your strategy and spot areas for improvement. Plus, feedback from judges offers fresh perspectives that can guide your next steps.

4. Motivate your team and attract talent

Awards are powerful motivators. Celebrating recognition, either formal or informal, boosts morale and loyalty and can reduce turnover. They also elevate your employer brand: people want to work for a recognised, high-performing team.

5. Open doors to new partnerships and funding

Being an award-winner can catch the eye of investors, sponsors, and strategic partners. One UK firm found its export deals grew thanks to award backing, which offered global credibility and confidence to buyers.

6. Benchmark yourself and fuel continuous improvement

Even entering awards can highlight strengths and weaknesses. Benchmarking your business against competitors and feedback received helps you set goals and drive ongoing excellence. Being shortlisted year after year builds a track record of ambition and achievement.

Next steps

• Choose awards that match your stage and strengths – consider regional, sector-focused or niche awards that align with your ambitions.
• Make it a business exercise – use the application process to review your strategy and identify evidence of success.
• Plan your communications – prepare content for before, during, and after the awards to maximise your exposure
• Celebrate and share with your team – use it as a moment to thank everyone and boost engagement.
• Apply again – re-entering builds brand momentum; even being a finalist can spark new opportunities.

Business awards aren’t just about trophies. They’re strategic tools that can enhance your reputation, sharpen your thinking, inspire your team, and attract growth opportunities. If you pick the right ones and treat entries as purposeful exercises, they’re absolutely worth your time.