ComVal ARC coop grabs Business Excellence Award for SMEs
Davao City (18 October) -- An agrarian reform community cooperative in Mawab, Compostela Valley has been cited as the best small and medium enterprise (SME) in the region.
Dizon Mawab Employees Multi Purpose Cooperative (DMEMPCO) was among the 11 SME Regional Awardees from only four regions cited nationwide.
The selection is being spearheaded by the Philippine SME Development Foundation. The Business Excellence Award for SMEs gives due recognition to the excellent performance of SMEs which comprise about 99.6% of the country’s total number of enterprises and accounts for nearly 70% of the workforce.
It is the highest recognition given to local companies for business excellence and leadership. The award is another acknowledgment to DMEMPCO as a well-managed organization.
DMEMPCO shined due to its efforts in marketing development, revenue and employment generation, and product development. But it is the coop’s financial and business efficiency that gained due recognition. After only 15 years of operation, DMEMPCO’s total assets has already reached P36.48 million as of 2005, an exceptional feat from a business venture that practically started from scratch and made without the help of a loan.
Winners were evaluated based on the overall business efficiency, economic impact and significant contribution to the business landscape.
The cooperative is still awaiting for a formal communication from Philsmed about the venue and schedule of the awarding ceremony.
Aside from the aforementioned recognition, DMEMPCO has also been conferred with the 2006 Gawad Saka Awardee for Outstanding Small Farmers’/Fisherfolks’ Organization (OSSFO) of the province and has been one of the Outstanding Cooperative finalists in the municipality. (DTI/PIA XI) [top]