The tenth edition of the annual Business Daily and KPMG Top 100 SMEs survey kicks off Tuesday, showcasing the growth of firms which have participated in previous editions.
KPMG East Africa CEO Josphat Mwaura said during the survey’s launch Tuesday the criteria for eligibility have changed this year to include only the firms that participated in the first nine editions.
An initiative of consulting firm KPMG and the Nation Media Group #ticker:NMG, the survey normally tracks SMEs with an annual turnover of between Sh70 million and Sh1 billion, with those exceeding the Sh1 billion mark joining Club 101.
The change in eligibility criteria this year is intended to mark the 10th anniversary of the survey.
“In this tenth year, we are doing it with a difference. The participation is open only to those companies that were recognised in the past nine years.
“We want to capture how they have transformed and grown in terms of top line, profitability, geographical coverage and the employment they offer to people…to capture the 10-year journey,” said Mr Mwaura.
Nation Media Group chief executive Joe Muganda lauded the huge contribution of SMEs to the growth of the economy, adding that it is important to recognise the role that they play and help them towards formalising their businesses.
“The middle and lower tier of businesses are the real employers in this economy and keep the country going, but one of the big challenges is to ensure that we formalise these businesses,” he said.
Thousands of SMEs have participated in the previous nine editions of the Top 100 survey, with the 2016 edition attracting more than 1,000 entries.
There are separate surveys for firms in Uganda, Tanzania and Rwanda.
The real estate firm Diamond Property Merchants won the 2016 edition of the Top100 SMEs survey. Other recent winners include Mombasa-based pharmaceutical company Pharmaken Ltd in 2015 and real estate firm Optiven in 2014.