FIFTY-five small and medium enterprises (SMEs) of Cebu were recently given recognition by an entrepreneurship advocacy group for their outstanding performance in delivering quality products and services to Cebuanos.

Rey Calooy, who chairs this year’s Business Achievement and Recognition Awards (Bara), said the award is meant to recognize small and medium enterprises for their exemplary performance and contribution to the economy.

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“Recognition like this allows SMEs to further excel in their field,” said Calooy, who is also president of the Filipino Cebuano Business Club Inc. (FCBCI).

The awarding was held last Saturday at the Waterfront Cebu City Hotel & Casino.

Calooy praised the efforts of Market Indicators Consultancy, the group that spearheads Bara in recognizing SMEs, which they said are important in fueling growth in the local economy.

“The growth of the SMEs in the country can be manifested in how industries direct their market focusing on SMEs,” he said.

Market Indicators Consul-tancy said they aim to challenge and motivate business owners to continuously raise the bar of excellence and go beyond customer expectation.

The agency said they want to do this by setting rigorous standards in their marketing research and surveys in search of business establishments with exceptional products or services.

Bara 2010 had more than a hundred nominees in different categories.