KINGSTON, Jamaica — Nine small and medium-sized enterprises (SMEs) will vie for more than $2 million in prizes at the 10th annual National Commercial Bank Nation Builder Awards (NBA) gala to be held on December 12 at the Jamaica Pegasus Hotel in St Andrew.

The shortlisted companies have shown outstanding entrepreneurial performance, sound business practices and exceptional contribution to community development, the bank said.

Nominated in the Innovation Award category are: Janet Rankine Henry t/a/ Complete Nutrition Diet Care Centre; Crafton Holdings Limited, and Black Ink Marketing & Event Solutions Limited.

This award is presented to a company that has exhibited impressive use of creativity to introduce a new product or service to the market. This innovation is not limited to technology.

Next, the Young Entrepreneur Award salutes a business that has been operating for up to three years with noteworthy business performance, strong community influence and whose principal is 35 years old or younger. The nominees in this category are: Internet Income Jamaica Limited; SpryTraining Fitness Limited, and Warren Hudson t/a JIA Group of Designs.

The ultimate award, the Nation Builder award, is bestowed on the business that has displayed the most outstanding entrepreneurial performance, and that has demonstrated a clear and significant contribution to community development.

This year, Knutsford Express Services Limited; Caribbean Flavours and Fragrances Limited, and Fontana Ltd, will be vying for the coveted award.

SMEs island-wide were nominated by NCB branch managers and business bankers and then assessed by a panel of judges based on innovation and creative thinking, financial performance, commercial viability and potential, business continuity and noteworthy community impact. The results from the assessments were audited by PricewaterhouseCoopers.

In addition to awards in the three categories above, one final year management studies or entrepreneurial studies group from The University of the West Indies will be presented with the NBA’s Vision Award for submission of the best final year business plan or project for 2017.

As a special feature at the 10th anniversary ceremony, three companies will be recognised as NCB Middle Market customers, in line with their exceptional business performance and strong community impact. Also, for the very first time this year, NCB will recognise the winner of the 2017 National Business Model Competition at the NBA gala.

NCB introduced the Nation Builder Awards (NBA) programme in 2007 to publicly celebrate and reward the zeal and resilience of hard working entrepreneurs across the island.

Awards are made in three categories.

The banking institution said the move was in line with its commitment to support business and enterprise, across small and medium companies, and furthering the advancement of varied industries and sectors, while contributing to nation building.