Ecocoast has recently been awarded with an ‘A’ rating under the Dubai SME Rating Framework, RATE SME, by Dubai SME. The Dubai SME Rating Framework is the first rating system for small and medium-sized companies in the region. The system provides a comprehensive review of SMEs performance, based on financial and non-financial criteria.
The ‘A’ rating as a Dubai SME Rated Business means that the business has met the criteria set by Dubai SME to companies registered as a commercial entity in Dubai. Companies must meet the thresholds of employee headcount and turnover in accordance with the industry group it belongs to, which is classified into trading, manufacturing and services.
The Dubai SME Rating Framework highlights key areas of strength and improvements in five key areas, namely: Business performance (operational and financial), innovation, international expansion, corporate social responsibility (CSR), and corporate governance and excellence.
The Framework plays a key role in achieving the goals of Dubai Plan 2021, focusing on increasing the contribution of SMEs to the GDP as they are considered an integral pillar of the economy because of their contribution to generating innovative ideas, providing career opportunities, and boosting productivity.
Ecocoast is the global leader in pioneering solutions for sustainable coastal and marine developments, and is at the forefront of designing, manufacturing and distributing globally a range of marine protection and demarcation products under the brand Ecobarrier.