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The number of small and medium-sized enterprises (SMEs) operating in the UAE totaled 557,000 by the end of 2022, in line with the country’s ambitious plan to increase this number to one million by the end of 2030.
Against this backdrop, leading business management software provider Tally Solutions is preparing to host “MSME Honors,” an annual event that recognizes micro, small and medium (MSME) businesses in the region.
The initiative aims to identify and honor MSME heroes who have excelled and made significant contributions to their communities and industry.
SMEs account for 90% of business
The United Nations General Assembly designated 27 June as “micro, small and medium enterprises” to raise awareness of the enormous contribution of these enterprises. MSMEs account for 90% of businesses, 60-70% of jobs and 50% of the world’s GDP. As the backbone of society, they contribute to local and national economies and livelihoods, especially among women, youth and groups in developing countries.
“At Tally, we are committed to supporting and recognizing the efforts of MSMEs around the world. We understand the importance of MSMEs in driving economic growth and proudly celebrate the achievements of these MSME heroes in the region. We are delighted to host the third annual MSME Honors awards and encourage people to participate in the programme,” said Vikas Panchal, Managing Director, Middle East, Tally Solutions.
This year, Tally’s MSME Honors will recognize outstanding MSMEs in various categories around the world, including the Middle East, India, Africa, Bangladesh, Nepal and Indonesia. The initiative takes into account the diversity of businesses and aims to recognize them on a hyperlocal level. These honors are given to entrepreneurs, creators, small and new business owners or independent business leaders.
Excellent company
Tally’s MSME Honors reward outstanding businesses in four categories. These categories are Wonder Woman, E-preneur Icon, Tech Transformer, and Business Maestro.
- Wonder Woman Honors Female Entrepreneurs Who Redefine Business
- E-preneur Icon honors emerging entrepreneurs creatively serving clients in UAE
- Tech Transformer rewards businesses whose agile adoption of modern technology yields better results
- Business Maestro hails a stalwart that has withstood the test of time and continues to grow
“The stability, effectiveness and reliability of the UAE government, combined with its business-friendly operating environment and transparent tax framework, make it an ideal destination for global companies to expand their global footprint. The country’s relaxed visa laws and regulations are also In addition, the UAE’s innovation-led growth vision and its supportive programs and subsidies make it an attractive destination for businesses of all sizes. As we celebrate MSME Day, We are proud to operate in this country and recognize the efforts of businesses in the region,” Panchal added.
Copyright 2022 Al Hilal Publishing and Marketing Group, courtesy of SyndiGate Media Inc. (Syndigate.info).
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