This archive report was first published on 22 July 2019.
On Monday, the 12th edition of the annual Business Daily and KPMG Top 100 SMEs survey was launched, marking the beginning of submissions for Kenya's fast-growing mid-sized firms.
Jointly organized by the Nation Media Group and consultancy firm KPMG East Africa, the survey identifies top mid-sized firms with an annual turnover of between Sh50 million and Sh1 billion.
According to Nation Media Group chief executive officer Stephen Gitagama, the competition helps small businesses unlock their potential through improved record-keeping and auditing of their books.
Companies participating in the competition must have a maximum annual turnover of Sh1 billion, submit three years of audited financial reports, and not be listed on any stock exchange.
As small firms struggle to access credit in an environment where loan rates have legal caps and delayed payments by the national and county governments, this year's edition of the survey comes at a critical time.
“It is our responsibility as the private sector to uplift SMEs by doing business with them and establishing avenues such as the Top 100 Survey to promote them,” Mr Gitagama said.
Participation in the competition is open to all companies except commercial banks, law, insurance, accounting, and consulting firms.
KPMG East Africa chief executive Benson Ndung’u noted that the survey has helped promote the SMEs, making them attractive to employees and funders as well as easing the sale of their products in a competitive market place.
“Since the start of the survey, we have seen companies grow to attract highly qualified people who are interested to work for them. They also get to attract more customers because of their association with the Top 100,” said Mr Ndung’u.
