SME Of The Year is an award given to the top small-to-medium enterprises that has performed outstandingly throughout the year in their respective trades and industry. The accolade serves as a reward and recognition to businesses that has displayed exemplary entrepreneurship in the process, or has significantly contributed to the society through their operations. SME Of The Year also wishes to function as a spur to local businesses in Singapore, to not only excel, but to outdo themselves and work towards greater heights.

Recipients of the accolade are nominated by the public for their excellence, or specially chosen for their merits that distinguish themselves from the pack. As the title of the award suggests, each year, only the top enterprises in Singapore would be shortlisted to receive the honour of being bestowed with the SME Of The Year award.