The 2008 Deloitte/Unlimited Fast 50 is open for entries. 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.