The SME Excellence List 2022
ABOUT SME EXCELLENCE LIST
The SME Excellence List recognizes and celebrates top performing SMEs in Qatar. The SME Excellence List will honor SMEs who have excelled in their businesses, created sustainable business models, projected business growth and have made a positive impact on the economy. The SME Excellence List will rank the top performing SMEs in Qatar based on a defined eligibility and evaluation criteria.
The SME Excellence List will be a key contributor to the overall development of the SME eco-system in Qatar. The SME Excellence List aims to:
- Provide a platform for SMEs to showcase their excellence
- Recognize the top performing SMEs in Qatar
- Create a motivational atmosphere within the business community in Qatar
- Create a culture of adopting the best practices and business excellence (quality, audited financials, governance and management structure)
FAQ
Frequently Asked Questions
ABOUT THE SME EXCELLENCE LIST
1. What is the SME Excellence List?
The SME Excellence List is a collection of the top performing SMEs in Qatar that rank high in parameters that enable a high business success rate. The SME Excellence List is an effective method of identifying upcoming and promising SMEs and encouraging them to grow and be sustainable businesses. Qatar Development Bank has launched the 3rd cycle of SME Excellence List to assess and shortlist the top performing SMEs in Qatar and inspire them to become world class enterprises.
2. Why do we need the SME Excellence List?
The SME Excellence List assesses the top performing SMEs in Qatar and inspires them to become bigger, better, and sustainable businesses. It improves competition in the economy and leads to innovation, improved quality, motivation, and knowledge enhancement. The SME Excellence List is in line with the Qatar National Vision 2030, aiming to promote and facilitate the development of small and medium enterprises in Qatar.
The SME Excellence List is a collection of the top performing SMEs in Qatar that rank high in parameters that enable a high business success rate. The SME Excellence List is an effective method of identifying upcoming and promising SMEs and encouraging them to grow and be sustainable businesses. Qatar Development Bank has launched the 3rd cycle of SME Excellence List to assess and shortlist the top performing SMEs in Qatar and inspire them to become world class enterprises.
2. Why do we need the SME Excellence List?
The SME Excellence List assesses the top performing SMEs in Qatar and inspires them to become bigger, better, and sustainable businesses. It improves competition in the economy and leads to innovation, improved quality, motivation, and knowledge enhancement. The SME Excellence List is in line with the Qatar National Vision 2030, aiming to promote and facilitate the development of small and medium enterprises in Qatar.
EVALUATION & RANKING PROCESS
1. On what basis will the ranking be done?
SMEs will be ranked based on a pre-defined set of financial and non-financial parameters. Financial performance includes growth in turnover, growth in profits, etc. Non-financial parameters include entrepreneurship (Qatari leadership), innovation & technology adoption, employee development & retention, international orientation, localization, corporate excellence, quality orientation and environmental care & protection.
2. How often will the Ranking be published and what will be the validity of the ranking?
The ranking will be published every 2 years. Therefore, SMEs can use the ranking for 2 years from the date of publishing/announcement.
SMEs will be ranked based on a pre-defined set of financial and non-financial parameters. Financial performance includes growth in turnover, growth in profits, etc. Non-financial parameters include entrepreneurship (Qatari leadership), innovation & technology adoption, employee development & retention, international orientation, localization, corporate excellence, quality orientation and environmental care & protection.
2. How often will the Ranking be published and what will be the validity of the ranking?
The ranking will be published every 2 years. Therefore, SMEs can use the ranking for 2 years from the date of publishing/announcement.
APPLICATION & PROCESS
1. When does the registration process begin?
The registration process begins on the 15th May 2022 and the deadline for applications is 23rd June 2022
2. What are the key stages in the SME Excellence List Process?
The key stages involve:
Application
Initial Filtering
Site Visit Meetings
Final Evaluation
SME Excellence List 2022 Event
For details, please refer to the following link
3. Do we need to dedicate a team for the SME Excellence List process?
Yes. It is recommended to nominate a person in charge of the communication and application process for a hassle-free process.
4. Is there a fee for application?
No. There is no fee for application. It is free of charge.
5. Do we need to fill and submit all the sections in the application form?
Yes. The SMEs will need to fill and submit all the sections in the application form. In case of any queries, please contact: Call Center +974 4430 0000
6. Do we necessarily have to complete the form online?
Yes. The SME Excellence List encourages SMEs to be digitally active and apply online.
7. What happens once we submit the application online?
Once the complete application is submitted online, the evaluation teams will shortlist the SMEs based on eligibility criteria and financial criteria. Once shortlisted for evaluation, the SME will be required to participate in the interviews and site visits. They will also be required to furnish additional documents to support and validate the discussions during/after the site visits.
8. What if we do not have our financial statements ready at the time of application?
If an SME does not have recent financial statements at the time of application, the SME can submit previous audited financial statements, until the current year statements are ready. An SME must be willing to disclose financial statements for the past 3 years for the purpose of screening and performance evaluation. Un-audited financial statements will not be considered for assessment
9. What are the documents required at the time of submitting the application online?
Mandatory
Qatar ID copy (largest Qatari owner)
Company registration (CR)
Computer card copy
Audited financial statements for 2019, 2020 and 2021
Optional and if applicable
ID copy authorized signatory
Trade license
Municipality regulatory permit
Qatar Chambers membership no.
Industrial registration
Company presentation & other documents (profiles, brochures etc.)
Proof of number of employees issued from the relevant authority (Ministry of Interior, General Directorate of Passports)
The registration process begins on the 15th May 2022 and the deadline for applications is 23rd June 2022
2. What are the key stages in the SME Excellence List Process?
The key stages involve:
Application
Initial Filtering
Site Visit Meetings
Final Evaluation
SME Excellence List 2022 Event
For details, please refer to the following link
3. Do we need to dedicate a team for the SME Excellence List process?
Yes. It is recommended to nominate a person in charge of the communication and application process for a hassle-free process.
4. Is there a fee for application?
No. There is no fee for application. It is free of charge.
5. Do we need to fill and submit all the sections in the application form?
Yes. The SMEs will need to fill and submit all the sections in the application form. In case of any queries, please contact: Call Center +974 4430 0000
6. Do we necessarily have to complete the form online?
Yes. The SME Excellence List encourages SMEs to be digitally active and apply online.
7. What happens once we submit the application online?
Once the complete application is submitted online, the evaluation teams will shortlist the SMEs based on eligibility criteria and financial criteria. Once shortlisted for evaluation, the SME will be required to participate in the interviews and site visits. They will also be required to furnish additional documents to support and validate the discussions during/after the site visits.
8. What if we do not have our financial statements ready at the time of application?
If an SME does not have recent financial statements at the time of application, the SME can submit previous audited financial statements, until the current year statements are ready. An SME must be willing to disclose financial statements for the past 3 years for the purpose of screening and performance evaluation. Un-audited financial statements will not be considered for assessment
9. What are the documents required at the time of submitting the application online?
Mandatory
Qatar ID copy (largest Qatari owner)
Company registration (CR)
Computer card copy
Audited financial statements for 2019, 2020 and 2021
Optional and if applicable
ID copy authorized signatory
Trade license
Municipality regulatory permit
Qatar Chambers membership no.
Industrial registration
Company presentation & other documents (profiles, brochures etc.)
Proof of number of employees issued from the relevant authority (Ministry of Interior, General Directorate of Passports)
ROLE OF QDB
1. What is the role of QDB in the process?
Qatar Development Bank (QDB) is a financial entity fully owned by the government, set up by an Amiri Decree to invest in and develop local industries by supporting small and medium enterprises in Qatar. QDB has aligned its strategy to correspond with the Qatar National Vision 2030, in order to promote and facilitate development and growth of small and medium enterprises in core economic realms, resulting in long-term socioeconomic benefits to the people of Qatar. The role of QDB is only to facilitate the SME Excellence List process. The shortlisting and evaluation will be conducted by an independent evaluation agency.
2. How will QDB use the data provided by us during the process?
All the data (corporate presentations, manuals, and financial statements) will be kept confidential and be used only for the sole purpose of the evaluation and ranking. (data privacy standards of QDB)
As a result of the Qatar National Vision 2030, QDB is developing new methods to support SMEs to help them commit to their goals and requirements. The QDB team will collate, tabulate and analyze the data at an aggregate level to present the overall state of SME growth and development in the economy.
3. What is the role of the technical panel in the SME Excellence List process?
The technical panel shall ensure transparency and validate the overall ranking of the independent assessors.
Qatar Development Bank (QDB) is a financial entity fully owned by the government, set up by an Amiri Decree to invest in and develop local industries by supporting small and medium enterprises in Qatar. QDB has aligned its strategy to correspond with the Qatar National Vision 2030, in order to promote and facilitate development and growth of small and medium enterprises in core economic realms, resulting in long-term socioeconomic benefits to the people of Qatar. The role of QDB is only to facilitate the SME Excellence List process. The shortlisting and evaluation will be conducted by an independent evaluation agency.
2. How will QDB use the data provided by us during the process?
All the data (corporate presentations, manuals, and financial statements) will be kept confidential and be used only for the sole purpose of the evaluation and ranking. (data privacy standards of QDB)
As a result of the Qatar National Vision 2030, QDB is developing new methods to support SMEs to help them commit to their goals and requirements. The QDB team will collate, tabulate and analyze the data at an aggregate level to present the overall state of SME growth and development in the economy.
3. What is the role of the technical panel in the SME Excellence List process?
The technical panel shall ensure transparency and validate the overall ranking of the independent assessors.
What are the benefits an SME can gain from the SME Excellence List?
The List will provide greater credibility and visibility to the SME across Government entities as well as the Private sector. Featuring in the SME Excellence List will help the SME position itself as one of the top-performers in the sector.
Featuring in the SME Excellence List will enable SMEs to be looked upon as professional enterprises and thus attract a skilled pool of employees.
All the above will consequently improve the competitiveness of the SMEs in Qatar.
Additionally, a publication featuring the top performing SMEs shall be showcased locally and internationally providing the SMEs greater visibility.
Moreover, the SMEs undergoing site-visit evaluations will obtain feedback from the evaluators after the SME Excellence List 2022 event on their applications covering apparent areas of strengths and weaknesses, relative rankings, and overall key improvement areas. This feedback will help the SME to build on its strengths and improve on its weaknesses.
SMEs featured in the SME Excellence List will benefit immensely from the recognition and visibility provided by QDB, earning greater respect among the business and finance community.
ELIGIBILITY & PARTICIPATION
1. What are the eligibility parameters for participation?
To be eligible for the SME Excellence List, an SME must meet the following criteria.
• Type of company
• A commercial, for-profit SME, engaged in value-added economic activity in Qatar
• Based in Qatar with a minimum 51% of Qatari shareholding
• Qualifying as an SME as per the National Definition of SMEs in Qatar. (Micro companies can participate excluding Home-Based Businesses)
• Existence in Qatar
• In operations in Qatar for a minimum period of 3 years at the time of application
• Holding a valid Commercial Registration number in Qatar
• Willingness to share information
• Audited Statements: All applicants should mandatorily have at least three years of audited financial statements (2019, 2020, 2021). In case 2021 financials have not been audited yet, an internal unaudited report for fiscal year 2021 is accepted at the time of application. However, audited financial statements are mandatory during the site visit phase which will commence in May 2022.
• Once shortlisted for evaluation, the SME will be required to participate in the interviews, and site visits. They will also be required to furnish additional documents to support and validate the discussions during/after the site visits.
• Other Eligibility Criteria
• The applicant can either be a parent or subsidiary. Both the parent company and the subsidiary cannot participate in the SME Excellence List, in the same cycle of evaluation. Thus, the owner will need to decide which is the best application to be included in the current ranking cycle.
• The company must follow the thresholds laid out in the National Definition of SME in Qatar (please read the SME definition document carefully).
• Government entities and not-for-profit entities are not eligible for participation
• SMEs who are a branch of a foreign company or a franchise of an international brand are not eligible to participate.
• SMEs involved purely in trading activity are not eligible.
• SMEs which have a direct / indirect investment from a current QDB employee are not eligible to participate.
• Terms and Conditions
• By entering this ranking program, the SME agrees to be contacted by the independent evaluator (Dun and Bradstreet)
• The Technical Panel reserves the right to modify the qualification criteria.
• This is a ranking program; and the Technical Committees decision will be deemed as final.
2. Can we participate if we are a branch of a foreign company?
NO. The SME Excellence List supports domestic owned businesses only and is not open to branch of foreign companies.
3. Can we participate if we are a holding/parent company or subsidiary of a large enterprise?
The key eligibility parameter is aligned with the National Definition of SMEs in Qatar. If the applicant satisfies the SME requirement, they will be eligible to participate in the SME Excellence List.
4. Can both the holding/parent company and its subsidiary participate in the SME Excellence List?
No. The SME can either be a holding/parent company or a subsidiary. Thus, the owner/CEO will need to decide the best application to be included in the current ranking cycle. Both the holding/parent company and the subsidiary cannot participate in the Excellence List, in the same cycle of evaluation.
5. We follow a financial year ending 31st March every year, are we eligible to participate in the SME Excellence List?
Yes. Irrespective of the financial year followed, SMEs are eligible to apply.
6. Can we apply even if we have witnessed a drop in our sales / profits in the previous financial year?
Yes. An SME can participate even if they have witnessed a drop-in sales/profits. SMEs are evaluated based on both financial and non-financial parameters
To be eligible for the SME Excellence List, an SME must meet the following criteria.
• Type of company
• A commercial, for-profit SME, engaged in value-added economic activity in Qatar
• Based in Qatar with a minimum 51% of Qatari shareholding
• Qualifying as an SME as per the National Definition of SMEs in Qatar. (Micro companies can participate excluding Home-Based Businesses)
• Existence in Qatar
• In operations in Qatar for a minimum period of 3 years at the time of application
• Holding a valid Commercial Registration number in Qatar
• Willingness to share information
• Audited Statements: All applicants should mandatorily have at least three years of audited financial statements (2019, 2020, 2021). In case 2021 financials have not been audited yet, an internal unaudited report for fiscal year 2021 is accepted at the time of application. However, audited financial statements are mandatory during the site visit phase which will commence in May 2022.
• Once shortlisted for evaluation, the SME will be required to participate in the interviews, and site visits. They will also be required to furnish additional documents to support and validate the discussions during/after the site visits.
• Other Eligibility Criteria
• The applicant can either be a parent or subsidiary. Both the parent company and the subsidiary cannot participate in the SME Excellence List, in the same cycle of evaluation. Thus, the owner will need to decide which is the best application to be included in the current ranking cycle.
• The company must follow the thresholds laid out in the National Definition of SME in Qatar (please read the SME definition document carefully).
• Government entities and not-for-profit entities are not eligible for participation
• SMEs who are a branch of a foreign company or a franchise of an international brand are not eligible to participate.
• SMEs involved purely in trading activity are not eligible.
• SMEs which have a direct / indirect investment from a current QDB employee are not eligible to participate.
• Terms and Conditions
• By entering this ranking program, the SME agrees to be contacted by the independent evaluator (Dun and Bradstreet)
• The Technical Panel reserves the right to modify the qualification criteria.
• This is a ranking program; and the Technical Committees decision will be deemed as final.
2. Can we participate if we are a branch of a foreign company?
NO. The SME Excellence List supports domestic owned businesses only and is not open to branch of foreign companies.
3. Can we participate if we are a holding/parent company or subsidiary of a large enterprise?
The key eligibility parameter is aligned with the National Definition of SMEs in Qatar. If the applicant satisfies the SME requirement, they will be eligible to participate in the SME Excellence List.
4. Can both the holding/parent company and its subsidiary participate in the SME Excellence List?
No. The SME can either be a holding/parent company or a subsidiary. Thus, the owner/CEO will need to decide the best application to be included in the current ranking cycle. Both the holding/parent company and the subsidiary cannot participate in the Excellence List, in the same cycle of evaluation.
5. We follow a financial year ending 31st March every year, are we eligible to participate in the SME Excellence List?
Yes. Irrespective of the financial year followed, SMEs are eligible to apply.
6. Can we apply even if we have witnessed a drop in our sales / profits in the previous financial year?
Yes. An SME can participate even if they have witnessed a drop-in sales/profits. SMEs are evaluated based on both financial and non-financial parameters
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