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Tuesday, June 25, 2019

APEC and the Russian Federation to recognize women SME owners and general managers

APEC Business Efficiency and Success Target (BEST) is an award for female SME owners and general managers who run their businesses in the 21 Asia-Pacific economies.

SMEs play an important economic role in the APEC member economies, representing over 97% of the companies in the region. However, women are under-represented in this sector due to limited access to markets and business development.

In fact, the 2017 APEC Women as Prime Movers of Inclusive Business study found that only 38% of businesses in the region are owned by women.

In view of this, the Russian Federation will present the “APEC Business Efficiency and Success Target” (BEST) awards to female SME owners and general managers who run their businesses within the 21 Asia-Pacific economies.

The goal of the initiative is to present projects developed by women from different economic sectors, including digital economy, traditional entrepreneurial spirit, and social entrepreneurship in order to attract more attention to SME management as a form of development for women.

The scale of the BEST awards event means that participants will have the opportunity to make their businesses known at the international level, attracting potential foreign partners and investors from APEC economies. It will also encourage more women to launch SMEs and foster job creation in different industries.

Candidates must be women from an APEC member economy who currently own a micro-, small- or medium-sized enterprise.


The applicants will be whittled down to a shortlist of 24 finalists. Winners will be chosen in the categories of APEC BEST Award, Highest Growth Potential, International Attractiveness, Best Social Impact, Fourth Industrial Revolution Project, Best Family Business Support and Best Senior Manager. 


Each member economy may nominate up to two candidates except for Chile, which, as the host country, may nominate up to four.


The deadline for applications is August 9, 2019, and the awards ceremony will be held during the Women and the Economy Forum (WEF), which will take place between September 30 and October 5 in La Serena, Coquimbo Region.

The guidelines for the competition are available here.


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