193 companies in the Algarve will be distinguished this year with the status of SME Excellence. These companies are responsible in the region for 5798 jobs and a turnover of more than 501 million euros.
The awards were handed out, this Wednesday afternoon, at a gala that took place in Braga, with the presence of Prime Minister António Costa.
According to IAPMEI, which gives the award, together with Turismo de Portugal, the turnover of these companies increased, on average, 20,2% compared to the previous year.
In terms of profitability, the district of Faro leads, with a percentage of 32,2%.
Most of the Excellency SMEs that stood out for the best economic, financial and management performance in the Algarve work in the Tourism sector (53,4%) and in Commerce (24,9%) and are mostly small-sized companies (143 ), which corresponds to 74% of the total.
Meanwhile, medium-sized companies in the Algarve (36) represent 19% and micro-enterprises represent 7% of this universe (14).
The Algarve's PME Excellence 2018 had global net assets of approximately 416 million euros, an average financial autonomy of 62% and return on equity levels of 33%, having registered a growth rate of 20,2% in the volume of Business.
At national level, 2378 companies were distinguished, 22% more than in the previous year.
This IAPMEI initiative was created with the aim of rewarding national SMEs that stand out for the quality of their economic and financial performance and show themselves capable of achieving high competitive standards.
According to Nuno Mangas, president of IAPMEI, «SME Excellence are financially robust companies, with a high competitive standard, based on innovation and internationalization strategies, playing a very relevant role in terms of employment and local and regional development . For IAPMEI and for the country, it is a pride to see the growth and notoriety that this Statute has been achieving among Portuguese companies».
With regard to SME Leaders, 437 companies in the Algarve have reached this status, representing around 1,4 billion euros.
See here the list of SME Excellence in the Algarve.
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