Tanzania Top 100 mid-sized companies’ survey 2012 was officially launched early this week whereby among other things, it delved on significant increase of networking opportunities that promise illustrious growth to small and medium enterprises (SMEs).
The survey aims at acknowledging the historic success of the country’s fastest growing industry that has its root focus on empowerment of SMEs to effectively integrate and participate in the country’s strategic development plans.
Presenting his speech during the official launch of the initiative, Raymond Mbilinyi, Tanzania Investment Centre acting executive director, said well nurtured SMEs will have a positive impact on the GDP.
“In Tanzania, SMEs are estimated to contribute well over 30 per cent of the DGP, and can still contribute more if they are well mentored,” said Mbilinyi.
Citing the likes of Coco cola, NMG, IPP, Microsoft, HP, Google, and Volkswagen Mbilinyi recounted their humble beginnings, “…all these started as micro organizations…” he said “… then they grew to where they are now.”
He explained that such success stories are why the government recognizes the great part SMEs play in achieving its 2025 vision.
According to Mbilinyi, some of the world’s best performing economies like Taiwan and Hong Kong rely heavily on the strength of their SMEs. In Japan, he said, 81 per cent of all employment is in SMEs and on average, enterprise employs twice as many workers as their counterparts in the European Union.
Tanzania Top 100 project director David Gachewa explained the initiative aims at helping the mid-sized companies in Tanzania to obtain a competitive edge in the East African Community Common Market.
Director Gachewa expounded the point explaining that such a goal will be achieved through recognition of the SME’s contribution and easing the huddles they face, like financial capital, favorable policies and access to information and market.
“We have to move from talking of poverty reduction to wealth creation,” expressed the visionary Gachewa. The survey will work with the global market researcher IPSOS which has, since its late 2011 acquisition of Synovate (an enterprise value of £525 million) become the third largest global market research company.
Only companies identified by Tanzania Revenue Authority (TRA) to have 1 to 20 billion turn over and maintain a consecutive three year track record qualify for the programme.
Last year’s survey saw BQ Contractor Ltd, a mechanical, civil and building contractors company, immerge as the top performer after beating the 100 enterprises that participated in the survey.
“I encourage companies that qualify to participate, because the survey is the platform for people and companies to test their professional growth,” said BQ chief executive officer John Bura.