Hello, I'm Manuela Saragossa. Welcome to Business Daily from the BBC.

Coming up, industry awards. Who needs them?

They give you a star or they don't give you a star. That's it.

When you go from one to two, you do see an instant boost.

It does matter to the bottom line.

It matters.

We're talking about awards and accolades that can cement a

career or business. It's a nerve-wracking affair. It ends up being about three hours before the

prize announcement. And poor Lucy our author was hardly eating anything. You know, I was eating,

but it tasted like ash in my mouth. Is it worth it? That's here in Business Daily from the BBC.

There's no end of awards you can enter as a business or professional. Every industry has them,

often dozens of them. They can be obscure. Yesterday, for example, a startup called Fairwill was named British will-writing firm of the year at the British Wills and Probate Awards.

Or they can be ones that are globally recognised, the Oscars, the Booker Prize, Pulitzer's, Nobel's.

In a moment why this year's prestigious Booker Prize was a painful affair for one of its entrance.

But first,

getting onto an awards list is no random affair. Take the restaurant business. The highest industry accolade is a Michelin star, or even better, three Michelin stars. I went along to a one-star

Michelin restaurant here in London just before the annual announcement of the Michelin Awards earlier this month.

I wanted to know how much work went into hanging on to that one star

and aiming to win a second one.

I'm David Moore, owner of restaurant Pierre d'Etaire.

Pierre-Det has had a Michelin Star for the last 26 years.

We are London's longest-standing independent Michelin-Star restaurant.

...