JEDDAH, 9 October 2007 — After enjoying the success for over 20 years in over 40 different countries across the world, Ernst & Young, the leading auditing and accounting firm, announced the launch of Middle East 2007 Entrepreneur of the Year Award program which seeks to honor entrepreneurs whose ingenuity and perseverance have created and sustained successful, growing business ventures.
Firas T. Haji, business risk consultant at Ernst & Young, Jeddah, told Arab News that “as entrepreneurship is flourishing in the Middle East, Ernst & Young is proud to commend these entrepreneurs who are building tomorrow’s global businesses.”
He added: “Awards will be given to entrepreneurs who have demonstrated excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities.”
Haji emphasized that to be eligible for consideration, entrant must be an owner/manager who is primarily responsible for the recent performance of a privately held business that is at least two years old or a founder of a listed company who is still active in senior management or is still a 51 percent owner.
Haji said the award categories cover energy/chemicals, real estate/construction, technology/communications, financial services, retail and consumer products, hospitality/tourism and corporate social responsibility.
Winners can be selected in a number of established potential award categories as well as special award categories.
“However, there will be only one overall ‘Entrepreneur of the Year’ for the region and he/she may also be a winner of one or more of the award categories.”
Haji said the cutoff date for receiving all nominations will be on Oct. 27 and the final winners will be announced at a gala dinner in Dubai in February 2008.
Haji clarified that there will be no cash prize. However, winners will receive recognition and publicity associated with this prestigious award.
“There are many benefits that an entrepreneur and their company receive from being involved in the program,” he added, “including favorable publicity, increased employee morale and surge in sales.”
“The Middle East economy is booming and there is a scope to launch the award program in the region because of the employment opportunities that entrepreneurs are creating, making their communities more vibrant and their economies more competitive,” Haji said, adding that “the program will provide tremendous networking opportunities across the region for business leaders.”