Top Dubai SME Exporting Awards

Dubai Chamber of Commerce and Industry honored the top export performing companies during SME Exporter of the Month recognition ceremony held at the Chamber facility.

Certificates of Recognition and the SME Exporter of the Month trophies went to:

1. Afegra Middle East FZE as a start-up company with the highest invoice value for the month of February.
2. Lisec Middle East Ltd FZE as most progressing company with the highest export growth rate during 2011.
3. Meka Emirates Trading for achieving the highest total invoice value during April 2011.

"More than 90 per cent of businesses in Dubai are SMEs and so their success and performance is vital to the overall health of Dubai’s economy," says Dr. Belaid Rettab, Senior Director, Economic Research and Sustainable Business Development.

Read more about the top Dubai export honors here.

How Many SMEs in the EU?

According to the European Commission Enterprise and Industry, there are more than 23 million SMEs in the EU, representing 99% of all European businesses.

Fact No. 1

The 23 million SMEs in the EU represent 99% of businesses, and are a key driver for economic growth, innovation, employment and social integration. The European Commission aims to promote successful entrepreneurship and improve the business environment for SMEs, to allow them to realize their full potential in today's global economy.

Fact No. 2

What is even more intriguing is that nine out of ten SMEs are actually micro enterprises with less than 10 employees. Hence, the mainstays of Europe's economy are micro firms, each providing work for two persons, in average. This is probably one of the EU's best kept secrets!

Learn more here.

Illustration credit here.

Toolkit Kiosk Helps SMEs Go Global

SMEs got a boost recently when the Small and Medium Enterprise Corp Malaysia (SME Corp) unveiled the first of its kind SME Toolkit kiosk in the country aimed at helping SMEs go global.

The kiosk, which is located at SME Corp's office in Menara Matrade, also helps them leverage on the toolkit to enhance their business by reducing their operational cost. SMEs can gain access to the relevant information in the toolkit via the Internet and need not go to the kiosk personally to access it.

The SME Toolkit is an online program that enables entrepreneurs and small businesses to learn how to implement sustainable business management practices needed for growth in areas such as finance, accounting, international business, marketing, human resources or legal, at no cost.

Learn more here.

Illustration credit here.

Posted by:  The Global Small Business Blog

Global Bank Makes Move for SMEs

Global lender HSBC with its HSBC Business, is targeting export-oriented businesses with turnover up to $10 million.

Interesting fact (quote):

Australia has about one million SMEs, about 90,000 of which do international business.

Read more here.

Photo: Kangaroo, national symbol of Australia

Should Every SME Become a Global Business?

We sure hope so. Yet according to Brendan Murtagh, speaking at the 28th annual Caribbean Accountants Conference, he said:

"I'm not suggesting every SME needs to become a global business, but to be the best they can be, they have to understand that there are going to be opportunities out there in the current climate whereby they can get together and leverage what they have together with other partners, and actually make a stronger, better business that's going to add to the economy as a whole. We are saying if you are going to recognize these opportunities, you have to step back and ask how are we going to do it?"

Read more here.

Note: IASB Issues Accounting Standard for SMEs