According to its website, the Small Business Institute for Excellence in Commerce (SBIEC) is "a leading authority on researching, evaluating and recognizing companies across a wide spectrum of industries that meet its stringent standards of excellence. It has spearheaded the idea of independent enterprise and entrepreneurial growth allowing businesses of all sizes to be recognized locally and globally. Particular emphasis is given to meeting and exceeding industry benchmarks for customer service, product quality and ethical practices. Industry leading standards and practices have been developed and implementation of the same has been pioneered by the dedicated efforts of the business community and commerce leadership."
It's more likely that the company exists to make money by selling tchotchkes and dubious services.
Back in 2010 I wrote about Outskirts Press's bragging about a similar award, the 2009 Best of Business Award from the Small Business Commerce Association. My company won an award from them, too. Neither Outskirts nor my company did anything to earn our dubious distinctions. Following widespread complaints, the SBCA has apparently disappeared, but the SBIEC is carrying on the tradition.
If you wait a while, maybe you or your company will be selected, too. If you're in a hurry and want to save some money, you can boost your ego for fewer dollars by ordering an award right from an award company. Congratulations!