Monday, June 09, 2008

Who are Canada's Fastest-Growing Companies?

My column in today’s National Post takes a look at the PROFIT 100, the list of Canada’s Fastest-Growing Companies that was just published by PROFIT Magazine.

(First, thanks to my Post editors, for letting me analyze another publisher’s project. Too often these days, the media giants cover mainly their own media partners [e.g., Globe and CTV, Canwest and Global TV], and ignore the worthwhile stuff in competing media.)

The PROFIT 100 tells us a lot about today’s economy: where the opportunities are, and why entrepreneurship is a much more dynamic force than your parents ever taught you it would be. The 100 companies on the PROFIT 100 enjoyed average five-year revenue growth of 1,800%. Only a handful of these companies existed 20 years ago, but now they account for $7.9 billion in export revenues.

A full 42% provide business services; just 19 are in manufacturing. There are 12 software developers, and lots of companies providing other high-tech products and services, including Research in Motion, which placed on the list for a record-tying eighth time.

But the No. 1 company is a daycare supplier: Kids & Company, of Markham, Ont., which had five-year growth of 12,639%.

Proof that opportunity is everywhere.

You can read my Post column here.


Anonymous said...

Corporations manage to double their income year on year, or even grow by double digit figures..Whilst smaller businesses struggle.Do they perhaps know something we dont.

Rick Spence said...

The point of the PROFIT 100 is that most of these firms started out as very small companies (some of them still are!) just a few years ago. Their success, and their growth into "corporations," is a result of superb market knowledge and entrepreneurial smarts.
The question is, can Canada grow small businesses into prosperous, global-oriented corporations? The evidence of the PROFIT 100 is that yes, it certainly can.