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PPG UAE Appointed to The Dubai SME List of Top 100 Companies |
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PPG member in Dubai, Triple Crown Shipping & Logistics L.L.C., has been named as one of the top 100 SME’s registered in Dubai and we congratulate Mr. Ishwar Jodha (pictured below) and his team on this wonderful achievement. A Gala Reception has been scheduled to celebrate the TOP 100 companies that have made it in Dubai SME 100’s first ever ranking. A Gala Reception for official presentations is scheduled for 17th of October 2011 at the Dubai World Trade Center.
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The Mohammad Bin Rashid Establishment for Small and Medium Enterprises' latest initiative aims to pave the way for a secondary initial public offering market, Dubai SME 100 was launched in March, ranking top-performing small and medium enterprises for the first time. This followed the first official definition of SMEs in 2009 which defines an SME as a registered firm with a turnover of up to Dh250 million and up to 250 staff. "The ranking will help these SME's to see where they stand. It will encourage other SMEs to get inspired and improve their business models. We want to identify these people," Abdul Basit Al Janahi, CEO of Dubai SME, said.
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Growth opportunity
• 1,092: businesses applied for the SME 100 list
• 196: met the criteria to be shortlisted
• 70,000: SMEs are registered in Dubai
Of those short-listed, 60 per cent are in the service industry, 13 per cent in manufacturing and 27 per cent in the trading industry. The categories are judged on growth performance (40 per cent), financial soundness (10 per cent), innovation (25 per cent), human capital development (10 per cent), international orientation (10 per cent) and corporate excellence (5 per cent).
Following the initial ranking, the list is set to be updated every two years.
Small and medium enterprises make up 95 per cent of the total business population and employ 42 per cent of the Dubai workforce.
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