Manufacturers make up 10 percent of Canada’s fastest-growing companies
June 6, 2011 by PEM Staff
Canadian manufacturers made up more than 10 percent of the companies listed on Profit 200’s annual ranking of the country’s fastest-growing companies.
With the Canadian economy apparently mired in a prolonged period of subpar growth, one couldn’t blame business owners for being pessimistic about current opportunities for expansion. But the firms honoured in the Profit 200 ranking of Canada’s fastest-growing companies are proof that more than a little optimism is in order.
Despite a sluggish economy, the businesses profiled in the pages of Profit‘s Summer 2011 issue have generated five-year revenue growth averaging an extraordinary 1,464 percent.
How did the Profit 200 achieve such stellar results in such a mediocre economic climate? They realized that it’s not enough to have a brilliant business idea; you also need to be resourceful in finding the financing you need and think carefully about how to attract and retain key talent. Another key for many Profit 200 companies was venturing abroad in search of sales.
“The Profit 200 are fearless, focused and determined,” said Profit Magazine editor-in-chief Ian Portsmouth. “Despite uncertainty and adversity, they invest in innovation and follow through on their vision – and never give up.”
For more on these trailblazing entrepreneurs and their tactics for generating exponential growth, pick up the Summer issue of Profit Magazine or visit www.profit200.ca.
Profit 200 Snapshot
55,867: total jobs created by the Profit 200, 2005 to 2010
$26.6 billion: total 2010 sales
$8.2 million: median 2010 sales
383: average number of employees
What do Canada’s leading growth stars do?
84 – Business services (average five-year growth 1,674%)
36 – Software development (1,721%)
27 – Manufacturing (952%)
16 – Wholesale or distribution (569%)
15 – Financial services (2,380%)
10 – Consumer services (830%)
8 – Construction (1,227%)
3 – Retail (279%)
1 – Media (767%)