Entries Open For The Fast 50

Monday, 30 June 2008

Entries Open For The 2008 Deloitte/Unlimited Fast 50

Search For Kiwi High Growth Stars Underway for 8th Year

The 2008 Deloitte/Unlimited Fast 50 is open for entries (www.fast50.co.nz). This is the eighth year that high-growth businesses from throughout New Zealand have been invited to benchmark their recent success against each other.

Matt McKendry, the Deloitte partner leading the campaign, said the Fast 50 honoured business growth, innovation and entrepreneurial spirit. “It’s an opportunity for New Zealand businesses from across the spectrum to celebrate their growth achievements. It doesn’t matter whether they are public or private, large or small, or based in Kaikohe, Invercargill or somewhere in-between. As a rule of thumb, we’d encourage any business with growth over 20% a year to consider getting involved.”

Entrants are required to be New Zealand registered, have been in business for a minimum of three years, and have had operating revenue of at least $500,000 in the 2007/08 financial year. Once entries close on 15 August, they are ranked by revenue growth over the past three years, and the top 50 companies are announced as the Deloitte/Unlimited Fast 50. The 2008 index will be announced on Thursday, 29 October 2008, at five regional award evenings in Auckland, Hamilton, Wellington, Christchurch and Dunedin.

The top-ranked Fast 50 companies from the previous seven years were:

2001: TelstraSaturn, telecommunications
2002: Marshal Software, internet security
2003: Prolificx, electronics
2004: Trade Me, online auctions
2005: 42 Below, vodka
2006: HRV, home ventilation
2007: Energy Mad, eco-friendly light bulbs

In 2007, the average revenue was $20.9m per annum and Mr McKendry said entries were not confined to new companies on the block. “In the 2007 index, the average age of a Fast 50 company was 6 years so we’re definitely not just talking about start-up companies here. Many of the companies involved have a solid platform and track record behind them and are going through an expansion phase.”

As well as the national Fast 50 index, there are also 8 regional category awards for the fastest growing business services company, manufacturer, retail/consumer products business, technology company, exporter, employer, investor in R&D, and a special award for the fastest growing new entrant.

Mr McKendry said although kudos from the investment community came a company’s way if they were named one of the 50 fastest growing businesses in the country, there were also benefits for the business internally.

“Many of the people we have spoken to talk to us about the kick that their staff get out of being part of a company that’s going places. People want to be a part of a business that is doing well and having your name in the exclusive Fast 50 club is a great way to get that message across.”

All Deloitte/Unlimited Fast 50 entrants are also nominated for the Deloitte Technology Fast 500 Asia-Pacific index.

About Deloitte in New Zealand

Deloitte New Zealand brings together more than 900 specialist professionals providing audit, tax, technology and systems, strategy and performance improvement, risk management, corporate finance, business recovery, forensic and accounting services. Our people are based in Auckland, Hamilton, Wellington, Christchurch and Dunedin, serving clients that range from New Zealand's largest companies and public sector organisations to smaller businesses with ambition to grow.

Deloitte's local experts draw on best practice and innovative methodologies from around the world as part of Deloitte Touche Tohmatsu, whose 150,000 people globally serve over 80 percent of the world's largest companies. A long track record and a wealth of international research into the needs of growing organisations has made Deloitte the world's leading advisor to emerging businesses. For more information about Deloitte in New Zealand, look to our website www.deloitte.co.nz

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.

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