Search for top 100 mid-sized firms starts

The 2014 top 100 mid-sized companies’ search in Kenya has started in earnest, with Thursday’s launch in Mombasa.

The event brought together local entrepreneurs and business leaders at Mombasa Serena Hotel. It is the first in a series that seeks to increase participation from outside Nairobi.

Nation Media Group chief operating officer Tom Mshindi said participating in the annual competition of Kenya’s fastest-growing mid-sized companies was critical to business process improvement that ultimately help mid-sized firms gain access to new sources of financing and acquire new partners to move to the big league.

“We have come here to encourage you to participate in this survey because it sets you on the road to gaining competencies you need to step ahead of the competition and grow into the corporate league,” he said.

The Top 100 mid–sized survey is open to firms with a turnover of between Sh70 million and Sh1 billion. Those that cross the Sh1 billion mark join Club 101.

Winners of this year’s survey will be invited to an exclusive Top Mid-sized companies conference on October 9 and a gala dinner the next day.

Mr Robert Onyango, KPMG Top 100 project manager for East Africa, said KPMG and Nation Media Group support the search because it celebrates entrepreneurs who have proved that free or private enterprise is the dynamic force behind innovation and economic growth.

“Our hope is that this platform will inspire many more entrepreneurs; that it will provide a platform for learning, and, above all, that every single entrepreneur in Kenya can expect to be applauded for their contribution to transformation of the economy,” Mr Onyango said.

Participating companies are assessed on core financial parameters including revenue, cashflow and debt, as well as non-financial indicators such as staff satisfaction.

Mr Mshindi said the survey provides participants with insights into market dynamics, industry benchmarks, human resource development, business confidence, future expectations and possible obstacles to growth.

The survey identifies Kenya’s fastest growing medium-sized companies to showcase business excellence and highlight some of the most successful entrepreneurship stories.

“We strongly believe there is a need to celebrate the entrepreneurs who have contributed to wealth and job creation. Our intention, therefore, is that new role models and national heroes will emerge from this process,” Mr Onyango added.

This year’s participants also have a chance to enter a competition to win an iPad.

Kenya Suitcases Manufacturing Ltd managing director Saylesh Shah said participating in the Top 100 Mid-Sized companies survey had helped his firm improve its standing among financiers, suppliers and partners.

Another past participant, Ms Jane Macharia-Gituto of Shian Travel, said taking part in the Top 100 survey had helped her improve her systems, allowing her to make the leap from position 104 to four in a span of two years.