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MEDAC minister, Tan Sri Noh Omar, during the launch of the 2022 E50 award programme.

The Enterprise 50 (E50) award is back this year to celebrate achievements made by Malaysia’s small and medium enterprises (SMEs).

The programme is now accepting nominations from now until June 30 this year.

The award programme is organised by the SME Corporation Malaysia and Deloitte Malaysia as a way to determine whether the SMEs are poised for the future.

This year would be the 22nd year since the inception of the award in 1996. The award this year is also supported by the Ministry of Entrepreneur Development and Cooperatives (MEDAC).

The 2022 E50 award programme was launched by the MEDAC minister, Tan Sri Noh Omar, on Mar 1 at the Kuala Lumpur Convention Centre.

The purpose of the award is to help local SMEs strive for excellence in the country that would lead to recognition of contributions made by the businesses. It also establishes a platform for local companies to get noticed.

Each E50 award will decide on 50 nominees to win based on key factors including financial capabilities, operations, as well as management competencies.

To qualify for the award, each company must fulfill the criteria set by organisers. The criteria includes fulfilling at least a 4-star rating from the SME Competitiveness Rating for Enhancement (SCORE) programme.

Currently, more than 503 companies with at least a 4-star SCORE rating have been nominated for this award programme.

With stiff competition, the E50 award winners are cream of the crop in the Malaysian SME industry.

Winners will get benefits that include opportunities to network with the movers and shakers of Malaysia’s economy as well as media coverage from several well known print and digital establishments.

The detailed ranks of winners will be announced during the award dinner in November.

If you think your company has what it takes to be a E50 award winner, check out the official website here to register and know more. --Money Compass