MCI Highlights Unified Definition of SMEs

The Ministry of Commerce and Industry (MCI) highlighted Ministerial Decision No (250) of 2018 on the unified definition of small and medium sized enterprises (SMEs), in line with the State’s interest in the development of the private sector in general and small enterprises in particular.

MCI pointed out that the decision on the unified definition of SMEs classified enterprises according to their headcount and annual revenues. SMEs are defined as companies established in accordance with Qatari laws and whose staff headcount is not more than 250 employees with annual revenues that do not exceed 100 million Qatari riyals.

SMEs were classified into three categories: Micro-sized enterprises (companies whose staff headcount is not more than 10 employees and whose annual turnover does not exceed QR1m, Small sized enterprises (companies whose staff headcount is not more than 50 employees and is not less than 11 employees, and whose annual turnover does not exceed QR20m and is more than QR1m) and Medium sized enterprises (companies whose staff headcount is not more than 250 employees and is not less than 51 employees and whose annual turnover does not exceed QR100mn and is more than QR20m).

The Ministry explained that the unified definition of SMEs is limited to Autonomous Private and Profit Seeking Enterprises and excludes ministries, public bodies and institutions, diplomatic bodies, public welfare institutions and establishments owned by public bodies and corporations and companies in which the State is a shareholder.

Source: The Peninsula