Visa sponsors YourBusiness SME Awards

As Platinum sponsor, Visa will support SMEs in the region through the promotion of best practice and celebration of excellence within the sector.

Zoya Malik, editor-in-chief of YourBusiness said:

'As the leading magazine for small to medium businesses in the UAE and surrounding GCC countries, we feel that it is only fitting that we give back to the industry by highlighting the successes these small companies achieve. Setting up business anywhere is hard, but in the Middle East, entrepreneurs may face even more challenges and we want to reward these companies for their perseverance and initiative.'

The six award categories include; Fastest Growing SME; Best New SME; Best Young Entrepreneur; Best Female Entrepreneur; Best Use of Technology by a SME and Best Franchised SME.

The Visa Award for 'Best SME in the GCC' will be conferred to one of the winners from the overall six categories and will recognise the SME that has demonstrated exemplary attributes of innovation, best practices and successful entrepreneurship.

Aninda Roy, Commercial Solutions Manager, Visa Inc commented: 'Visa is delighted to sponsor the inaugural YourBusiness SME Awards. Representing industry excellence and best practices, this programme is very much in line with our overall strategy and vision'.

Visa is committed to supporting business in the GCC and recognises that SMEs are assuming increasing significance across the region as the economy continues to diversify. Visa continues to invest in the development of innovative products that help small and medium business owners succeed throughout the Middle East,' added Aninda Roy.

YourBusiness has enlisted senior management from leading local companies, including Visa, which deal with SMEs on a daily basis to form the judging panel.

'The judges are specialists from a range of industries including banking, logistics, telecommunications, public sector entrepreneur networks and franchising, to name a few. The judging process will be held as an open forum where these industry experts can meet and discuss each individual nomination and determine the winners,' said Malik.

The winners will be awarded at a breakfast ceremony to be held at the Park Hyatt Hotel, Dubai Creek Golf Club on Monday 20th October 2008.

The awards are open to small to medium enterprises that employ less than 250 staff, earn up to Dhs50m and are operating in the GCC.

Visa's sponsorship of YourBusiness SME Awards follows the global expansion of its merchant offers programme for SMEs throughout the GCC.

The Visa merchant offer web-site, supports business needs throughout the region with worldwide discounts on key business functions and services.