The criteria for the Businessman of the Year Award are categorised into four areas:

Financial Performance

He/She must have made an outstanding and sustained contribution to his or her organisation. In the case of a public company, for instance, he/she must have contributed to an improvement to the returns on shareholders' funds, and sales, in the light of conditions prevailing at the time. Consideration will also be given to the standard of corporate disclosure of the awardee's company.

In the case of a private company or sole proprietorship, etc he/she must have contributed to an improvement on return on capital invested. Reducing a company's losses is also considered an achievement. This would be regarded as a contribution to the stability of the organisation.

Personal Qualities

• Integrity: The awardee's integrity should be of the highest standard
• Entrepreneurial abilities: Personal contribution to an organisation outside the realm of his/her immediate business interests. It is a merit point for the awardee if he/she has made such a contribution

Managerial Skills

• Depth of Management: The awardee should have contributed to the raising of management skills and the establishment of a viable organisational structure.
• Adaptability: The awardee must have adapted to the changing environment and demands.
• Tenacity: The awardee should have displayed perseverance and tenacity in working towards objectives.
• Leadership Qualities: The awardee must be someone who has won the respect of his/her subordinates and whose actions set an example for his/her organisation. He/she should be adept at motivating employees.
• Productivity: The awardee must have made a substantial contribution to improving the output of his/her employees.
• Creativity: The awardee should have an innovative approach to his/her business affairs.
• Good Labour Management: The awardee should have a track record of establishing and maintaining harmonious relations in the organisation.

Contribution to Singapore's Development

The awardee or his/her organisation should have made a positive contribution to Singapore 's development. This includes contributions in the economic, social and cultural areas.

Rules of Eligibility

• The awardee should be involved in a business enterprise
• He / she should be a Singapore citizen and living in Singapore
• There is no restriction on sex, age, or race

No restrictions on age, sex or race but the candidate must be ordinarily resident in Singapore.

He/she must be involved in a business enterprise either running his/her own local company or head of the Singapore division/subsidiary of a large organisation.

Managerial Skills

• Adapt to the changing business environment and standards
• Contribute to the upgrading of managerial skills and the establishment of a viable organisation structure
• Persevere in working towards objectives
• Innovate and be outward looking in his/her approach to business
• Win respect of subordinates
• Set an example for the organisation and motivate its employees

Financial Performance

He/she must have:

• made an outstanding and sustained contribution to the financial viability of the company
• contributed to an improvement on return on capital invested in the company, subsidiary or division
• exercise prudent management of funds or financial assets

Contribution to the Community

He/she must have made positive contribution to the community.

No restrictions on age, sex or race but the candidate must be a Singaporean who works and lives overseas.

He/she must be involved in a business enterprise either running his/her own local company or head of any Singapore or foreign division/subsidiary of a large organisation.

Managerial Skills

He/she must show the abilities to:

• Adapt to the changing business environment and standards
• Contribute to the upgrading of managerial skills and the establishment of a viable organisation structure
• Persevere in working towards objectives
• Innovate and be outward looking in his/her approach to business
• Win respect of subordinates
• Set an example for the organisation and motivate its employees

Financial Performance

He/she must have:

• Made an outstanding and sustained contribution to the financial viability of the company
• Contributed to an improvement on return on capital invested in the company, subsidiary or division
• Exercise prudent management of funds or financial assets

Contribution to the Community

He/she must have made positive contribution to Singapore and the international community.

This award is open to all enterprises in Singapore. The criteria for the Enterprise Award are categorised into four areas:

Innovation

The success of the company in innovation of either products, services or new markets. Particular attention will be focussed on the company's penetration of overseas markets drawing on enterprise and expertise of its Singapore base.

Financial Performance/Productivity

The company must have an outstanding and sustained growth in profit. The age of a company will be taken into consideration in relation to profit track record. The company must have taken positive steps and made conscious efforts towards improving its productivity level.

Company Management

The organisation must display an effective management style and have a viable organisational structure. The company must have a track record of establishing and maintaining harmonious relations within the organisation and set examples for the industry it is in.

Contribution to the Community

The company's contribution to the community will be considered favourably.

• This Award is open to any individual below the age of 45 as of 1st January during the year of judging.
• There is no restriction on sex or race.
• The candidate must be ordinarily resident in Singapore.
• He/She must be involved in a business enterprise either running his/her own local company or head of the Singapore or foreign division/subsidiary of a large organisation.

Leadership and Managerial Skills

He/she must have these critical attributes:

• Entrepreneurship, and drive
• Ability to adapt to the changing business environment and standards
• Ability to steer his/her organisation towards problem solving and out performance
• Contribute to the upgrading of managerial skills and the establishment of a viable organisation structure and culture
• Persevere in working towards objectives
• Innovate and be outward looking in his/her approach to business
• Gain the respect of subordinates and peers
• Set an example for the organisation and motivate its employees

Financial Performance

He/she must have:

• Made an outstanding and sustained contribution to the financial viability of the company
• Contributed to an improvement on return on capital invested in the company, subsidiary or division
• Exercise prudent management of funds or financial assets

Contribution to the Community

He/she must have made positive contribution to Singapore and the international community.