Online motor vehicle sales company 2 Cheap Cars (1294% growth), fund manager Pie Funds Management (1269%), cloud-based retail software platform Vend (1098%) and men’s clothing retailer I Love Ugly (1087%) round out this year’s top five.
The annual Deloitte Fast 50 index, announced on Thursday at the Deloitte Festival of Fast Growth, ranks businesses experiencing rapid revenue growth over three years across a range of sectors, including manufacturer, technology, services, retail and consumer products, exporters and mature business. The index sets the benchmark for high growth businesses in New Zealand.
The threshold for entry into the Fast 50 was the highest it has ever been this year at 201%, and the top five companies on the index all had three-year growth rates in excess of 1000%.
Deloitte partner Bill Hale says these results are great news for New Zealand and underscore the country’s economic recovery and high levels of business confidence.
“There are more companies out there growing faster than ever before, particularly in Auckland. Auckland and Upper North Island-based businesses have swept this year’s top 5 and account for 9 of the top 10 fastest growing companies on the index,” he says.
A total of 30 companies from the Auckland and Upper North Island region made the 2014 Deloitte Fast 50, followed by 7 from Canterbury and the Upper South Island, 6 from the Central North Island, 5 from Wellington and the Lower North Island and 2 from Dunedin and the Lower South Island.
“While a broad cross-section of business is represented in this year’s index, a growing number of Fast 50 companies earn their keep helping other small-to-medium sized businesses make better use of technology. Construction activity and franchise-style businesses are also enjoying high levels of growth,” says Hale.
“The underlying success of a lot of fast-growth businesses is that they do a specific thing very well and they really try and nail that niche.”
My Food Bag
Fresh food and recipe home delivery service My Food Bag was named the 2014 national Rising Star. In association with the Deloitte Fast 50, together with BNZ, the Rising Star awards are designed to recognise early-stage, innovative, high potential companies – the next generation of Fast 50 businesses.
Along with being the number one ranked business on the 2014 Deloitte Fast 50, Voyager Internet took out the national award for fastest growing technology business. The second ranked business on the index, 2 Cheap Cars, won the national award for fastest growing retail or consumer products business and third ranked Pie Funds Management won the national award for fastest growing services business.
Other national category awards went to Chemsafety for fastest growing mature business, Mesynthes for fastest growing manufacturer and The Collective for the fastest growing exporter.
The second annual Deloitte Festival of Fast Growth, held today at Auckland’s Villa Maria winery, brings together the country’s fastest growing companies for a one day inspirational business event. The focus of the day is to provide an informal but challenging and thought provoking environment for high growth business. It includes meaningful workshops, networking opportunities and concludes with the celebration to count down the fastest growing companies from 50 to 1.
For the full Deloitte Fast 50 index, go to www.fast50.co.nz.
The 2014 Deloitte Fast 50 by region
Auckland and Upper North Island:
Voyager Internet (1), 2 Cheap Cars (2), Pie Funds Management (3), Vend (4), I Love Ugly (5), Partners Life (7), Mad Group (8), Sush Mobile (9), LeapThought NZ (10), Mesynthes (12), Pure SEO (13), Just Cabins (14), Milford Asset Management (17), Straker Translations (18), Bookme.co.nz (20), Switch Utilities (24), Young and Shand (25), Refresh Renovations (28), Cooper and Cooper (29), Snakk Media (33), Vibe Communications (34), EROAD (35), Zyber (40), Online Asset Partners (43), Giles Civil (45), Meadowlark (46), The Collective (47), Onceit (48), Pita Pit New Zealand (49), Protempo (50)
Central North Island:
MEA Mobile (15), Mavis and Co. (16), Cobra Labs (22), LayerX Group (27), Findatruckload (30), BCD Group (41)
Wellington and Lower North Island:
Touchcast (6), Alphero (31), Flight Coffee (39), Kowtow Clothing (42), Pic’s Peanut Butter (44)
Canterbury and Upper South Island:
Chemsafety (11), ENGEO (19), Enable Networks (21), Mike Pero Real Estate (23), EBOS Group (26), Trineo (32), Buildtech Residential (38)
Otago and Lower South Island:
Skevington Contracting (36), South Pacific Fire Protection (37)
About the Deloitte Fast 50
The Deloitte Fast 50 index ranks the top 50 businesses in New Zealand according to their revenue growth over the past three years. Entrants are required to be New Zealand registered companies, have been in business for a minimum of three years, and have had operating revenue of at least $300,000 in the 2011/12 financial year.
As well as the national Fast 50 index, there are awards given to the fastest growing manufacturer, technology business, services business, retail/consumer products business, exporter, and mature business (operating for 15 years or more).
All technology businesses which enter the Deloitte Fast 50 are automatically nominated for the Deloitte Technology Fast 500 Asia-Pacific index announced in Hong Kong on 20 November 2014.
The number one ranked companies since the programme began in 2001 are:
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
2008: Watson & Son, manuka honey/healthcare
2009: New Zealand Honey Co, honey products
2010: Telecom Rentals, telecommunications equipment finance
2011: Powershop, online electricity retailer
2012: Pulse Utilities, electricity retailer
2013: Earthwise, environmentally friendly cleaning products for the home