The shortlisted restaurant, Shakurs Brasserie, has been owned and operated by Shah Hussain for nearly 20 years.
The winner will be announced on Thursday October 10 as part of the third British Bangladeshi Business Awards held at Bingley Hall in Birmingham.
In order to make the shortlist of the competition Shah participated in a cook-off with eight judges. Officials from the competition also came to the restaurant and made a complaint to see how the staff would react as part of the competition.
Shah participated in another similar competition three years ago, but didn't win taking home the prize for runner-up.
Severe traffic delays around Banbury due to road closure
Man jailed after leading police on a 100mph chase in Bicester
'It was simply wonderful': Swimming wish comes true for Banbury care home resident
Police want to speak to this man in connection with a handbag theft near Banbury
Driver abandons car near primary school during high speed chase in Bicester
He said: “I entered to try and improve, and I like the challenge. I just hope I'm not runner-up. I'd rather be third than runner-up.”
Shah also owns the Swan pub building in the village along with the former coffee stop cafe, which he has plans to turn into a cocktail bar.
Shah added: “I love the village and I want everything to do well. If we have different venues then people will come to the village.”
Shah also owns Shah's restaurant in Wellesbourne. But it closed last year in November 2018 after a fire in the building.
He added: “We're trying our best to re-open before Christmas.”