"The GCC100 and Arabia 500 ranking rewards the highest performing SMEs by providing them with a platform to increase their visibility on a global level," Mohannad El-Khairy, head of communication strategy, Zawya, said. "Raising their profile helps them compete, identify business opportunities and partnerships, and better source funding for future research and development. As these companies grow both regionally and internationally, they give back by investing more in entrepreneurial and research initiatives, innovation and education. A continuous, self-sufficient circle is created so to speak, one that feeds itself for the better of the community," he told Arab News.The Arabia 500 will be an annual ranking, he said. Over the next couple of years other regional rankings - Asia 500, Africa 500, Eurasia 500 and Latin America 500 - will be added, creating the largest information system and network of growth entrepreneurs in the world.The SMEs play an important role in boosting economic growth. "In the United States, SMEs account for 50 percent of employment and contribute 50 percent to the GDP (gross domestic product). In the MENA region, SMEs employ 80 percent of the work force yet contribute less than 30 percent to the GDP," El-Khairy said.Due to its massive young population, the MENA region will need to create almost 100 million jobs over the next 10 years. "If not addressed, it will create a huge gap that will prove unsustainable for the region. In fact I'd say part of the reason for the Arab Spring this year is due to the lack of employment opportunities in the region. This is where the role SMEs can play to boost economic growth, by alleviating the pressure on government organizations and large caps and becoming an engine of economic development in its own right," he pointed out.When asked about the criteria that will be used for ranking, El-Khairy said while applying to the Arabia 500 ranking is easy, it is a rigorous process - companies must fill out a survey and provide financial documentation so that AllWorld can verify the company's financial performance. Any company that makes an AllWorld ranking is the "real deal" - they have been credentialed using international standards. Although, most of the information is kept strictly confidential - the revenue range and growth rate of the company is revealed. This transparency immediately makes them a more attractive investment opportunity.He said SMEs should have had 10 or more full-time employees in 2010, with a minimum 3-year operating history and revenue of at least $100,000 in 2008 and $500,000 in 2010. Younger and smaller companies with at least $100,000 in the last 12 months can qualify for recognition as "Start Ups-To-Watch. The SMEs also should provide audited statements or an audit letter to confirm company's revenues.About the alliance, El-Khairy said: "We partnered with the AllWorld Network and Arcapita not only to help SMEs increase visibility, but also enable them access a wider range of market intelligence services. We believe that business and investment opportunities delivered transparently and effectively will lead to a more progressive MENA. With AllWorld, ours is a strategic partnership that we have built in order to facilitate this mission."El-Khairy said the Sept. 30 deadline is set, and we hope that every company will take advantage of the opportunity and apply for the GCC100|Arabia 500 ranking which will put these companies on the world map.