The Bruce Community Futures Development Corporation is hosting the gala evening at the Lakeshore Recreation Centre in Port Elgin.
More than 400 businesses are eligible for PEAK awards.
The awards recognize perseverance, excellence, achievement and knowledge in business.
The Company of the Year awards will go to Peninsula Junction Emporium in Lions Head and Blackhorse Golf and Country Resort in Huron-Kinloss.
The Young Entrepreneur honour will go to Carla Bruce, the owner of Trigger Points in Kincardine.
The Entrepreneur of the Year goes to Paul Schendel and Delores Sullivan of Schendel and Sullivan Shoes in Southampton.
John Divinski of 98 the Beach is acting as Master of Ceremonies for the event.
