The number of small and medium-sized enterprises (SME) operating in the UAE at the end of 2022 totalled 557,000, in line with the country’s ambitious plan to drive this number to 1 million by the end of 2030.

 

Against this backdrop, Tally Solutions, a leading business management software provider, is all set to host ‘MSME Honours’, an annual event to recognise micro, small and medium (MSME) enterprises in the region. 

 

The initiative aims to identify and celebrate MSME Heroes that exemplify excellence and have made significant contributions to their communities and industries. 

 

MSMEs account for 90pc business

The United Nations General Assembly designated June 27 as ‘Micro-, Small, and Medium-sized Enterprises’ to raise awareness of the tremendous contributions of these enterprises. MSMEs account for 90% of businesses, 60 to 70% of employment and 50% of GDP worldwide. As the backbone of societies, they contribute to local and national economies and to sustaining livelihoods, in particular among women, youth, and groups in countries that are developing. 

 

“At Tally, we are committed to supporting and recognising the efforts of MSMEs globally. We understand the importance of MSMEs in driving economic growth and are proud to celebrate the achievements of these MSME Heroes in the region. We are excited to host the third edition of the MSME Honours and encourage people to participate in this initiative,” said Vikas Panchal, General Manager Middle East, Tally Solutions.

 

This year, Tally's MSME Honours will be recognising outstanding MSMEs across categories globally, including Middle East, India, Africa, Bangladesh, Nepal, and Indonesia. The initiative takes into account the diversity of businesses and aims to recognise them at a hyper-local level. The honours will be awarded to entrepreneurs, creators, small and new business owners, or independent business leaders.

 

Outstanding businesses

Tally's MSME Honours awards outstanding businesses across four categories. The categories are Wonder Woman, E-preneur Icon, Tech Transformer and Business Maestro.

•Wonder Woman recognises women entrepreneurs who have redefined businesses

•E-preneur Icon acknowledges rising solopreneurs based in UAE who creatively deliver to clients

•Tech Transformer awards businesses that are agile with modern technology adoption yielding better results

•Business Maestro hails stalwarts who have withstood the test of time and continue to grow 

 

“The stability, effectiveness, and reliability of the UAE's government, combined with its business-friendly operating environment and transparent taxation framework, have made it a desirable destination for businesses worldwide to expand their global footprint. The country's relaxed visa laws and regulations have also played a significant role in attracting businesses. Furthermore, the UAE's vision for innovation-led growth, along with its supportive programmes and subsidies, make it an attractive destination for businesses of all sizes. As we celebrate MSME Day, we are proud to be operating in this country and acknowledge the efforts put in by businesses in the region,” added Panchal.-- TradeArabia News Service