Commerce Ballarat organisers decided to postpone its biggest event on the calendar due to the current COVID-19 restrictions.

However it is hoped the Ballarat Business Excellence Awards gala dinner, which would normally bring together 600 people in one room, can be held in September, live streamed between two venues.

If this cannot go ahead, a back-up date in October has been set and should that not be able to take place, the winners will be announced online and a party to celebrate will be held in November.

The awards were cancelled for the first time in Commerce Ballarat history last year due to the COVID-19 pandemic and this year's awards have provided something for businesses to look forward to.

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Commerce Ballarat chairperson Hayley Coates said the organisation had every intention of continuing with the event in its usual format, if at all possible, this year and in coming years.

She said there was concern about the event but this was based on external factors relating to the pandemic.

"It's such a nice way for business owners and people who have worked really hard to celebrate their success," Ms Coates said.

"I think everyone understands the situation that we are in at the moment. People are disappointed but we have sold nearly all of the tickets that we had available and people are just waiting with us to see what is going to happen."

The aim of this year's awards is to celebrate businesses who innovated, survived or thrived in 2020.

This year saw 130 business apply for the awards, more than 2019 when the awards were last held. Thirty-five businesses have been selected as finalists.

Ms Coates said the organisation wanted to return to face-to-face events when it could.

"Through events like that, it's a way for people to get to know other business owners and people in the community who are going through the same issues as them. We definitely want to go back to face-to-face events and things when we can."

Ms Coates acknowledged the efforts of the organisers, who had had to try and come up with different options for the gala dinner in a "huge logistical task".

She said they had to create three events, which included organising the venue, seating plans, entertainment and catering.

It is hoped the gala dinner will be held on September 16 at two venues, the Civic Hall and Creswick's RACV Goldfields Resort, to follow COVID-19 safe guidelines. The event will be livestreamed between the two venues.

The back-up date of October 7 will be held at venues to be confirmed.

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