For the first time in the history of the scheme, Ulster companies and entrepreneurs will compete for seven category prizes before going head-to-head with category winners from across the island.

Overall category winners will be announced from the provincial finalists at an all-island gala event next March.

Henry Elvin, Ulster Bank's head of business banking in Northern Ireland, said: "Small to medium sized enterprises are the lifeblood of the Northern Ireland economy and our purpose in recognising and rewarding their successes is to encourage them to continue on their growth journey and to help inspire others to strive to reach their full potential.

"Business conditions are difficult, but at times like these it's more important than ever to make the most of talent and skill and to create awareness of achievements and successes.

"Therefore we are confident that we will see evidence of significant business achievement amongst the contenders and winners of the awards."

Entries are now open to both established businesses and entrepreneurs who feel their business has achieved significant success and growth.

l The Business Achievers awards are open to nominations by individuals or businesses at www.businessachieversaward.com. Entries close on October 31, with the Northern Ireland awards ceremony taking place in November.