The project “Top 100 in Montenegro“ that was launched recently, and implemented through the partnership between BI Consulting, Ministry of Finance and Ministry of Economy, with sponsorship from the Societe Generale Bank Montenegro and exclusive partnership with Crnogorski Telekom, aims at promoting positive business practices and business environment in Montenegro. The four-month campaign is also based on improving the culture of regular financial reporting, which is directly related to the ranking of the companies by the project, and which will be published in the special annual edition of the “Business Newspaper – Top 100 in Montenegro in 2018″. The project will be finalised with the award ceremony for the top ranked companies to be held on 30 May at Hilton Podgorica.

“Although the project was launched not even three weeks ago, the interest of the business community related to ranking conditions and involvement in the project has been huge. Given the large number of inquiries related to the ranking criteria, which are available on the official project website:, we would like to use this opportunity to additionally clarify them,“ Ratko Nikolić, founder of BI Consulting, the leading provider of credit rating information in Montenegro, has said.

“Businesses are not required to apply. All companies that submit accurate financial statements within legal deadline are entered into the ranking database”, Mr. Nikolić has explained.

The following are taken into consideration for ranking in the “Business Newspaper – Top 100 in Montenegro in 2018“:

• All businesses (LP, GP, LLC and JSC) registered in Montenegro;
• Businesses operating for at least three years, that have at least 3 employees and 100,000 EUR of capital (with exception of the segment of MICRO companies, where the capital-related limit will be 50,000 EUR)
• Businesses that have submitted appropriate financial report for 2017;
• Businesses that have not been on the list of blocked companies in the past 12 months;
• Businesses that have not been on the Montenegrin Tax Administration’s “black lists” in the past 12 months or that comply with agreed programme;
• Businesses delivering results continuously (results accomplished through one-time business endeavour or bookkeeping operations will not be taken into consideration);
• Businesses not registered for committing a criminal offence;
• Agencies registered for recruiting employees are excluded from the selection of the largest employer.

A hundred of micro, small and medium-sized companies will be ranked respectively, as well as all large companies, by their total revenues, net profit and number of employees. In addition to twelve mentioned categories, ranking by revenues will also be done in twelve categories according to the following business activities: trade, hotels, real estate, auditing and accounting services, construction, food and beverages, other production and processing (with exception of food and beverages), telecommunications, IT sector, pharmaceutics (production and sale, retail and wholesale, of pharmaceutical products), sale of oil and petroleum products, and medical services.

Also, companies from all lists that have recorded growth of key parameters: revenues, net profit and number of employees in the past three years, will be additionally ranked, and the largest one among them by revenues will receive the award for the largest fast-growing company.