[2][3][4] The general accusations are that Worldcob randomly contacts many small and medium enterprises telling them that they've been nominated and that, for a fee the company will be given the Bizz Award.

Authorization was requested for the use of the name World Confederation of Businesses as the Trade name of MPBM Co.[8] WORLDCOB has a governing body consisting of the chairman, vice chairman, and the board of directors, made up of a multi-disciplinary team of professionals of different nationalities, all with experience in the field of business consultancy and advisory.

[10] In 2019, the organization announced launching of Worldcob Trust Seal (WTS), a service that verifies the legal and operational existence of a business.

[1] The award takes place in three different cities each year, one for the Europe, one for Americas, and the one for the region of Asia, Middle East and Africa.

The Bizz Awards ceremony has historically been hosted in Houston in 2005, New York City in 2006, Punta Cana in 2007, Panama City in 2008, Cuzco, Peru in 2009,[14] Houston again in 2010, Rome in 2011,[15] and in the Bahamas in 2012, as well as in Dubai, Los Cabos and Paris in 2013,[16] Abu Dhabi, Hawaii, Venice in 2014,[17][18] Muscat, Las Vegas, Athens in 2015,[19] Marrakesh, Washington D.C. and Monte Carlo in 2016,[17][12] Dubai, St. Thomas and Bucharest in 2017,[20] Hong Kong, Miami Beach and Prague in 2018.