LLB on the hunt for innovative SMEs
6 May 2022
Liechtensteinische Landesbank (LLB) has launched this year’s competition for small and medium-sized enterprises (SMEs). Interested companies from Liechtenstein can now register for the LLB KMU Award 2022.
Together with the Liechtenstein Chamber of Commerce, LLB will again be paying tribute to particularly innovative SMEs in Liechtenstein this year. According to a press release, both members and non-members of the Liechtenstein Chamber of Commerce can apply for the LLB KMU Award 2022 up to June 30. The awards will be presented on September 20 at the Liechtenstein Industry, Trade and Commerce Exhibition (LIHGA) in Schaan.
The prize is awarded in two categories: SME of the Year and Newcomer of the Year. Companies with five to 200 employees can apply to be crowned SME of the Year. As Newcomer of the Year, the jury considers companies that employ between three and 50 staff and which have been in existence for no longer than a decade. In addition, LLB appeals to companies “for which innovation is the driving force for greater sustainability, among other aspects”.
Therefore, in addition to a clear corporate strategy, the applicants should use sustainable innovations to generate “a positive impact on Liechtenstein as a business location”. According to the press release, other success criteria include sound financial key figures, differentiation in the target markets with products or services, an innovative market presence and responsible corporate management. The winner of the SME of the Year award receives prize money of 15,000 Swiss francs, while the Newcomer of the Year will receive coaching from the University of Liechtenstein.
“SMEs are the engines of innovation, creating jobs and offering growth potential. And they can do some good in the arenas in which they operate”, comments Urs Müller, Head of the Private and Corporate Clients division of the LLB Group, in the press release.