The PME Leader and PME Excellence awards are distributed annually by IAPMEI, the Agency for Competitiveness and Innovation, in partnership with Portugal Tourism and the banking sector. These nominations are made to recognise and honour the important role that small and medium enterprises play in local economic development, highlighting their robust finances, capacity for innovation and good business management.

This ceremony was held to officially present the awards that IAPMEI distinguished in 2024. In total, 49 companies were recognised at the event, and they come from a variety of sectors.

The largest portion was from the commerce sector, with 38.89 percent of nominated companies coming from there, with industry and services coming in second, with 16.67 percent of the share, in which The Portugal News is included. The sectors of tourism, construction, real estate, as well as agriculture and fisheries were also among those recognised, with 11.11 percent, 11.11 percent, and 5.56 percent of companies present at the ceremony, respectively.

Out of these 49 businesses, 18 were given the PME Excellence award, a higher tier of recognition reserved for performance, resilience, and adaptation, positioning themselves as driving forces in the economic development of the Lagoa Municipality, capable of competing at a high level with the large companies, including those that reach into Lagoa from elsewhere in Portugal and the world at large.

The ceremony

Author: Município de Lagoa;

The ceremony itself was attended not only by the companies being recognised for their significant efforts, but also by representatives from the many sectors of the economy that operate within Lagoa, and by an assortment of public institutions. Luís Encarnação, President of Lagoa Council, headed the event, stating that “these awards represent recognition of quality, competence, and entrepreneurial capacity for the companies in our municipality. These are businesses that contribute daily to Lagoa’s economic growth, the creation of job opportunities, and the affirmation of our territory as an attractive area to invest and sustain economic activity.”

“The success of these businesses is an indicator of the good health of Lagoa’s entrepreneurial environment and the confidence that company executives have in our municipality’s potential”, he continued. “This ceremony has been held to recognise this merit and to thank our local businesses for the important contribution that they’ve made to Lagoa’s sustainable development.”

“These are much more than just an award – they are a recognition of the hard work and the strategic vision of those who take part in our development every single day. These companies are from a diverse range of sectors, from commerce and industry to agriculture and fishing”, he added. “Together, they demonstrate that Lagoa is a municipality with a dynamic, diverse economy that’s prepared to answer the challenges posed by an ever more competitive market. Lagoa Council recognises the fundamental role these companies play in the building of this municipality as one that’s more competitive, more innovative, and more sustainable.”

Alongside him was Dr Miguel Mendes, a representative of Portugal Tourism, who proclaimed that “I’d like to highlight all the companies that have been nominated; this award represents much more than just a formal recognition, as it’s a reflection of daily work, business management, innovation, resilience, and creation of value in our economy”.

Author: Município de Lagoa;

“One of the critical factors for the competitiveness of companies is the capability for management, and these companies have an effective, efficient management which allows them to meet significant financial and economic goals, elevating the tourism industry as a nationwide example for others to follow”, he concluded.