By Tamara Pupic
Dubai SME seeks to rank and provide new opportunities for SME100 companies to move to a more inclusive and expansive phase in the field of entrepreneurship
Dubai SME has announced that registration for the new Dubai SME100 ranking is now open and will last until 5 April.
Through the Dubai SME100 rankings for 2015, which are held under the patronage of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince and Chairman of the Executive Council of Dubai, Dubai SME aims to celebrate Dubai’s top performing SMEs and groom them into bigger, better, more sustainable enterprises.
Dubai-based SMEs meeting the official Dubai SME definition may apply, provided they have three years of audited financials.
The ranking also takes into account the non-financial dimensions which cover Innovation, International Orientation, Human Capital Development and Corporate Governance.
Speaking about the emirate’s SME sector, His Highness Sheikh Hamdan bin Mohammed said: “SMEs today represent 95 percent of all firms registered in Dubai, 42 percent of the labour force and 40 percent of the emirate’s GDP.
“Therefore, this sector has a critical role in achieving and fostering overall development across diverse economic sectors. SMEs also provide the best opportunities for new business models, employment as well as innovation and when placed within a progressive development ecosystem they can fast evolve into global enterprises.”
Abdul Baset Al Janahi, Chief Executive Officer of Dubai SME, added: “We are pleased to launch the third cycle of SME100. For the top 100 SMEs in 2013, the net combined turnover exceeds AED4.5 billion, which is an increase of over 100 percent from the 2011 ranking, and their profit exceeds AED434 million, 98 percent higher than in 2011.
“The top 100 also employ more than 7,000 among them and the productivity per worker exceeds AED 636,000, a 22 percent increase over 2011,” said
He also noted that in the 2013 ranking, SMEs that achieved double-digit revenue growth over the last three years are 81, a 53 percent growth from the 53 such SMEs in the 2011 list.
A 32 percent increase (from 41 SMEs in 2011 to 54 in 2013) is also seen in terms of companies that achieved more than 20 percent growth over the last three years.
In addition to providing SMEs with a firm ground to market their capabilities to regional and global investors, the ranking has become a reliable index of SME performance and serves as a base of investable SMEs for a potential secondary listing of SMEs capable of taking the IPO.
To register, please log on to www.Dubaisme100rankings.com