The event, which is run by traders’ group Totally Locally, will take place over a fortnight between October 9 and 23, with shops in the town offering deals on goods and services for just £5.
It follows a successful event in June, which saw even more shoppers arrive in town to take advantage of the special offers.
Organisers are hoping this year’s autumn initiative will also be a success with 44 businesses already signed up.
Yvonne Shivas, Totally Locally Burntisland organiser, said: ”We are really looking forward to this October’s Fiver Fest – it’s been a tough time for lots of businesses so we’re thrilled to have 44 participating.
“Fiver Fest is an opportunity for businesses to both reward their regular customers with a bargain and encourage new customers to try products and services they may not otherwise buy.
"It also provides smaller businesses who work from home/only operate online a means of free promotion and great exposure to a whole new customer base who otherwise might not know they exist.”
Yvonne said there has never been a more important time to support local businesses as many have experienced a very challenging year.
“It’s never been more important to shop locally,” she said.
"While some businesses are experiencing issues just like larger companies - supply problems, higher costs, staff shortages etc. - they are working extremely hard to adapt to these to ensure their customers still have an amazing array of products available and receive the fantastic service they expect.
“Shopping locally injects a huge amount of money into Burntisland’s economy which then goes round several times benefiting multiple businesses - instead of going straight out to a national corporation.”
Jo King from ‘Bring to the Party’ teaches small business owners how to network effectively online, teaching them how to use social media platforms like Instagram and Facebook to promote and grow their businesses.
She set up the business in August 2019, working from home and said she has spoken to many town traders who have experienced a difficult 18 months as a result of the pandemic and have had to find new ways of operating.
Jo said: “I spoke to a few businesses mainly traders who make things like crafts, sell skin care products, cafes and restaurants who had to find a way of running their business without having customers in their premises – it was about finding ways to get people online.
For a lot of people it also gave them the chance to start their own business – something they wouldn’t have otherwise had the time to do.
"It was also a brutal time for many businesses.”
Jo is supporting her clients who are taking part in this month’s Fiver Fest by sharing social media posts and issuing a handout to businesses to help them with their social media presence in the build-up to the event.
She said: “The offers in Fiver Fest are a great way of introducing people to business services, like a taster, and it then gives them the confidence to try the service again.
"Also if one business has a great deal on during the fortnight it brings people down to the High Street to get that deal but they then walk along to see what the other businesses are offering so Fiver Fest is a really great idea.”
She continued: "I definitely think it is important to continue supporting local businesses on the High Street.
"During the pandemic people went to the supermarket and all the shelves were bare, but they went down the High Street and the shops had plenty of choice – things you couldn’t get in the supermarket.
"This year is going to be another big year for shopping local – all the research shows people are wanting to shop local and support local businesses and Fiver Fest really supports this.”
Louise Humpington, owner of Grain & Sustain, based in Burntisland High Street, is also taking part again.
She said: “We love taking part in Fiver Fest as a way to thank all our amazing customers for their support and as an opportunity to showcase our fantastic products to potential new customers.
“I think It is more important than ever to get the message about shopping locally across to people. This is an uncertain time for many people, particularly for small family businesses like ours. So, more than ever local support is critical to the survival of our local shops.
“Burntisland in particular has shown just what a huge difference local communities can have on local businesses and with supply chains at big business level being so badly hit it is an incredible opportunity to shine a spotlight on what we are producing locally.
"When you do your grocery shopping at a small indie food shop like ours, you also support hundreds of other local families who sell their products to us and work with us.
"Those families then support other local businesses and so your £5 is retained in the local economy and spent over and over again with different local people.
"Not only is good financially for the area, it’s also a fantastic way to lower your carbon footprint and support sustainable local businesses who put people and planet at the heart of their operations.”
Louise added: ”There is always a fantastic buzz around when Fiver Fest comes ‘to Town’, and the October one is always special because it’s when people start thinking about gifting ready for Christmas. If you’re really organised you could get some cracking bargains and a super head start on Christmas shopping.”