The “Top 100 in Montenegro” that was launched recently, within which large, medium-sized, small and micro companies will be ranked by their revenues, number of employees and profit, has caused great interest of the business community in Montenegro. The project, implemented through the partnership between BI Consulting, Ministry of Finance and Ministry of Economy and with sponsorship from the Societe Generale Bank Montenegro, aims to promote positive Montenegrin business practice and business environment and consists of three components. The first one is about improving the culture of regular financial reporting through a months-long promotional campaign, the second includes ranking of companies according to their results, on the basis of clearly defined criteria and publication in the annual edition of the “Business Newspaper – Top 100 in Montenegro”. The project will be finalised with the award ceremony for the top ranked companies to be held on 30 May at Hilton Podgorica.
To meet the needs of the “Top 100 in Montenegro” project, credit rating information provider “BI Consulting” analysed financial reports officially submitted by business organisations operating in Montenegro in 2016. According to the analysis, which did not include businesses from the financial and insurance sectors, there were 18,203 micro, 1,323 small, 175 medium-sized and 35 large companies operating in Montenegro. The criteria used to classify companies into micro, small, medium-sized and large are set by the applicable Accounting Law.
“In the mentioned period, 1,059 companies had annual revenues that exceeded one million euro, 8,810 of all companies made profit, while 287 companies that regularly kept and submitted balance sheets had more than 50 employees,“ BI Consulting has pointed out.
The key precondition for a company to be ranked within the “Top 100 in Montenegro” project includes timely submitted and accurate financial reports. The category in which a company will be classified depends directly on the business activity code for which the company is registered.
Although the project was launched several days ago, the interest of business community related to ranking conditions and participation in the project has been significant. The precise conditions required for a company to be ranked are available on the project’s website: www.100najvecih.me