"Our judges are impressed by the high standard of the Canberra Region Local Business Awards finalists," managing director and founder Mr Steve Loe said.
"Our judges have said it is difficult to separate the contenders in the awards and determine winners in each category."
Anonymous, impartial judges visited each finalist to assess their services from a customer's point of view.
Judging criteria include: range of products, value for money, business and staff appearance, service quality and customer relations.
Finalists can also submit information about aspects of their business that an anonymous visitor may not see, such as customer testimonials and references.
The Canberra Region Awards are just one of many award presentations around the region.
"Being a finalist in the Local Business Awards can provide a huge psychological and practical boost for the hardworking goods and services providers," Mr Loe said.
Organisers Precedent Productions have developed a reputation for being specialists in event management.
They pride themselves on providing the highest professional service and management, which removes all the stress normally associated with running an event.
So why do some businesses collect the awards and accolades while others struggle?
Probably one of the most important things is to believe in your business idea and always remember the 'why'.
Why did you start your own business? Why did you want to market certain products and offer these services?
If you are interested in what you do, this will sustain you when the going gets tough.
A radically different business means you have less competitors but be prepared for those who will copy you.
If you do have a business that is in a popular industry, then it helps to check out your competitors regularly.
- Don't compromise on your core values
- Take care of yourself - take a break, go on holidays and have a work/life balance
- Work hard the first 12 months, as this will be a learning curve
- Put your customers at the centre of your business - go where they are even if you have to change your business model
- Hire good staff - they can make or break a business
- Remember to network extensively but don't spend all your time on this
- Keep control of your business until you have sold it
- Innovate and keep it fresh
- Incorporate creativity - improve what you do
- Be organised and keep detailed records
- Analyse risks versus rewards
- Always offer fantastic customer service