Following the announcement of the Lebanon 25, a ranking of 25 fast growth Lebanese companies, AllWorld is now officially launching the regional Arabia 500.
Companies from around the country were invited to apply to the Lebanon 25 and the fastest growing among them made the list. The Lebanon 25 winners are credentialed as global growth entrepreneurs and become part of the AllWorld Network of winners from the US, the Middle East, Africa and Asia.
More than 50 companies stepped forward to compete for the distinction of being a Lebanon 25 winner. Companies that applied were ranked based on their sales growth between 2006 and 2008 and younger growth companies could qualify as "Companies to Watch." To be eligible, companies had to undergo an arduous process including completing a detailed business survey and providing audited statements or an audit letter to confirm their revenue growth.
Topping the Lebanon 25 as the number 1 ranked company was Food Trends Corporation known for its Leila Restaurant chain, with a growth rate of 598% followed by FireHorse Productions with a growth rate of 566%.
Having successfully announced the Lebanon 25, AllWorld is now accepting applications for Arabia 500 that ranks the fastest growing private companies in the region between 2007 and 2009. The leading companies will benefit by:
- Being a member of the exclusive Arabia 500 business network and the AllWorld Exchange B2B platform.
- Differentiating their companies by gaining recognition and media attention, locally, regionally and internationally.
- The top winners will be invited to attend the AllWorld Leadership Summit in October at Harvard University and the Pinnacle Institute with fast-growing companies from around the world.
In order to qualify for the Arabia 500, companies should meet the following criteria:
- Be an independent, private, for-profit, corporation or partnership, or proprietorship.
- Must NOT be a non-profit, holding company, franchise, bank or utility company. Private companies established by government or where government is a majority stakeholder are also NOT eligible.
- Have 6 or more full-time employees in 2009.
- Have a minimum 3-year operating history and revenue (USD) of at least $100,000 in 2007 and $500,000 in 2009. Younger companies can compete to be a "Company to Watch."
- Provide audited statements or an audit letter to confirm your company's revenues.
AllWorld's mission is to find and advance all the growth entrepreneurs of the emerging world by 2015. Based on its model of 'Visibility Economics', AllWorld aims at finding growth entrepreneurs, credentialing them and putting them on the global radar screen in a way that attracts markets to them. AllWorld is creating the Africa 500, Asia 500, Eurasia 500, Latin America 500, and more recently the Arabia 500 which is kicking off with the Egypt 25, Jordan 25, Lebanon 25, North Africa 25, UAE 25 and Saudi 100 Fast Growth lists.
AllWorld is joined by an array of local and international organizations: the American University of Beirut, Quantum Communications, Bader Young Entrepreneurs Program, Berytech and Kafalat in collaboration with the Ministry of Economy and Trade, as well as the international consulting firm the Monitor Group, private equity firm Siraj Capital, and health care real estate developer Sukoon International.
