Deloitte opens entries for Fast 50 awards to find New Zealand's fastest growing businesses; Open for firms with annual sales over NZ$300,000
Deloitte has opened entries for the 2012 Deloitte Fast 50, the index for New Zealand’s fastest growing businesses.
The index is in its 12th year and Deloitte is inviting businesses from throughout the country have been invited to benchmark their business growth over the past three years against each other.
National leader of the Fast 50 programme, Deloitte partner Stephen Nicholas, says the Fast 50 has been celebrating New Zealand’s business heroes for over a decade, showcasing entrepreneurial companies that innovate and grow.
“This year in particular, we are searching for those inspirational stories not only of growth, but courage, tenacity and entrepreneurial spirit across our nation,” Nicholas said.
“The Deloitte Fast 50 programme is still the leading barometer of the country’s most successful and the Fast 50 sets the standard for emerging businesses to aim for. It continues to be on the wish-list of a number of entrepreneurs setting up new businesses around the country because recognising their revenue growth is the best way to truly celebrate their success," he said.
Nicholas welcomed all businesses to enter the 2012 Deloitte Fast 50, by spending 10 to 15 minutes filling out the simple online entry form at www.fast50.co.nz.
“We’ve refined the entry process to make it even easier but the rewards from making the list still remain innumerable. Businesses will receive considerable local and national media attention, raising their profile among the wider business community but also, and perhaps more critically, from investors looking for destinations for capital. And not to be overlooked is the huge boost to staff morale from making the Deloitte Fast 50."
Here are the criteria:
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You must have an operating revenue of at least NZ$300,000 in 2009/10 (FY10).
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You must have a New Zealand registered business that has been operating for at least three years.
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You must submit verified revenue information for FY10, FY11and FY12.
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Your revenue must be related to core trading income, excluding related party transactions. Interest may be included if it is not greater than 10% of trading income, or is your core business.
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All qualifying entries received are automatically entered into the Fast 50 benchmarking index.
Entrants are ranked by percentage revenue growth for the three-year period surveyed (FY10 to FY12) with the top 50 announced as the 2012 Deloitte Fast 50, at gala events around the nation on Wednesday 24 October.
The 50 businesses with the highest recorded revenue growth percentage will become our 2012 Deloitte Fast 50.
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5 Comments
Speckles
Judging a company on profit per employee makes sense for mature businesses.
But this competition is all about finding the growth businesses. Google didn't make money for years. The same with Xero. Yet both are incredibly successful businesses.
Why are New Zealand investors and business people so conservative about this stuff?
We can't all be rental property investors or own mature monopolies. If that was the case the banks would be the companies with the highest profit per employee... and our economy wouldn't grow much.
New Zealand needs growth businesses generating export revenue and great jobs. Early in their life cycle they are going to need investment.
Let's celebrate that and help it happen.
cheers'
Bernard
Interest may be included if it is not greater than 10% of trading income, or is your core business.
Usury is your core business? - it's the dominant growing business in New Zealand and it fails to generate exports and in fact quite the opposite - wasn't GE capital calling an end to the lending recession just the other day on these same pages. It sucks the life out of any young business.
I have had clients that have placed well in this competition that still five years later have not made a cent..
Yes celebrate and at least Deloitte are doing something.... but there is too much emphasis on top line growth. These same clients celebrated too early and found this as reinforcement when actually it was misplaced.
My largest web site client here is making 6 million USD bottom line profit a month from here after three years...that is three years since being launched. The business model was making a profit from the third month like it should. That is smart business.... including subcontractors has less than 15 people involved. Actually every web site (successful) business model that has I have involvement with has made profit within the first 12 months.
Smart businesses attract smart money.
As someone who has worked with funders including venture capital funds, they want to see these ventures as mature within five years... given current innovation and competetion... with less staff the better. Lets get the expecations out there so people are aiming for the right targets and developing the right business models.
I agree... NZ does need businesses generating export revenue and great jobs although it starts with the right business model. This is particular more acute given our position in the world. If google had been set up here it is highly unlikely it would have been given the time line and funding as it has had in the US...
I'm not even going to comment on zero...:-)
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