What is the South Africa Fast Growth 100?
Endeavor South Africa, AllWorld Network, and Professor Michael Porter of the Harvard Business School are the Founding Partners of the South Africa Fast Growth 100.
The South Africa Fast Growth 100 shines a spotlight on a new generation of companies that are creating jobs and spurring innovation and growth. They are the country’s “leading indicator” of competitiveness.
An entrepreneurial economy is the very essence and foundation of a vibrant, competitive, knowledge-based economy. The most competitive nations have the highest rates of entrepreneurship.
The South Africa Fast Growth 100 winners are ranked according to their revenue performance over the last five years. The application process is strenuous, including reviewing the audited financial statements of applicant companies. These are real companies, with real growth and real success.
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Why apply?
Here are five good reasons:
1) YOU CAN EARN A POWERFUL ENDORSEMENT
Making the list distinguishes your company in the eyes of clients, prospects, competitors, investors, the media, your community, and the world at large. Many of the winners of other Fast Growth 100 lists (Saudi Arabia, US and UK ) use the logo on their website and marketing materials and have received considerable media attention.
2) YOU CAN BOOST EMPLOYEE AND INVESTOR MORALE
Recognition as a South Africa Fast Growth 100 winner is tangible, objective evidence that the hard work of your employees is paying off and that your investors made a good decision.
3) YOU`LL GET TO NETWORK WITH THE BEST
By connecting with and learning from other innovative and successful entrepreneurs you will become a stronger, smarter, and better business leader. Also, the top 20 winners will be invited to the AllWorld Leadership Summit in 2010 in Boston at Harvard University and in Chicago at the Illinois Institute of Technology. Winners will develop growth strategies with top academics and will network with fast-growth US companies.
4) YOU MIGHT ALSO QUALIFY FOR THE AFRICA 500
South Africa Fast Growth 100 companies will be eligible to be part of the soon-to-be-announced Africa 500 – a ranking of the fastest growing emerging companies in the sub-Saharan region. One application qualifies you for both lists.
5) YOU WILL BE SUPPORTING THE ENTREPRENEURIAL CAUSE
Entrepreneurship is the backbone of any competitive economy. It is important that the country and the world recognise what South African entrepreneurs have to offer.
Still not convinced? CLICK HERE to learn why some of the most successful and dynamic business leaders in US, UK and Saudi Arabia have taken part in their countries Fast Growth 100. Check back soon to see stories of South African entrepreneurs.
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Is there a cost to apply?
No. There is absolutely no cost to apply.
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How do I apply?
Click here for a Step-by-Step Guide to the South Africa Fast Growth 100 application process, or here to begin filling out the application.
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How are companies ranked?
We rank companies by the percentage growth of their annual revenue (turnover) between 2007 and 2009. We look for companies that have been able to grow at a very fast rate for the past five years. Also, each company that qualifies for the South Africa Fast Growth 100 must meet international standards of competitive entrepreneurship. We are looking for real companies, with real growth and real success.
Companies are ranked on pure performance and the fastest-growing company will be ranked #1 on the list. We reserve the right to disqualify companies for financial or other reasons.
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What are the basic criteria for eligibility?
To be eligible for the 2010 South Africa Fast Growth 100, your company:
- must be privately held, for profit and independent. (In this case, independent means that your company is not a subsidiary or a division of a larger company with other revenue-generating operations).
- must be privately held, for profit and independent. (In this case, independent means that your company is not a subsidiary or a division of a larger company with other revenue-generating operations).
- must not be a publicly traded company, non-profit, holding company, franchise, bank or utility company. Private companies established by government or where government is a majority stakeholder are also not eligible.
must be based in South Africa.
- must have 6 or more full-time employees in 2009.
- must have generated revenue of at least 350,000 ZAR in 2007.
- must have generated revenue of at least 3.5 million ZAR in 2009.
- must provide audited financial statements to verify revenue numbers for 2007, 2008 and 2009. In the case where an applicant has merged or acquired another company after 2007, financial statements for each of the original entities must be provided to calculate combined 2007 revenues.
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Why do we emphasise fast-growth companies?
Fast-growth companies generate new ideas, new business models and new markets. To sustain high growth rates for a number of years, a company is not just replicating best practices – it is creating best practices. Closer to home, fast-growth companies rapidly expand their employment base, and because of their growth, offer unparalleled opportunities for employee training and advancement.
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Will my company's growth percentage be high enough to make the 2010 South Africa Fast Growth 100?
This depends on your company's growth percentage in comparison with the rest of the private companies that apply. Remember that the award is based on a three-year growth rate, not a one-year growth rate. Thus, if your company has experienced any growth between 2007 and 2009, we encourage you to apply.
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My company's revenue growth slowed or declined in the past year. Does that disqualify my business or make it unwise to apply?
Not at all. We look at your overall three-year growth rate from 2007 through to 2009 in comparison to the other applicants. Year-to-year declines are accepted and will most likely be common among 2010 honorees.
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My company is majority or wholly-owned by a venture capital firm, a private equity firm or an investment bank. Is it eligible?
Yes
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How does the South Africa Fast Growth 100 define revenue?
We define revenue as gross revenue or turnover, less returns and allowances, before any cost of goods sold. If you do not have a final figure for your 2008 revenue when you apply, you may enter an estimate and give the more precise figure when you submit your backup.
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When is the deadline for submitting an application for the 2010 South Africa Fast Growth 100?
The deadline is rolling - as we will be creating interim lists (SAfrica 50) as we move towards the SAfrica 100 announcement in Q3 2011.
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Is supporting documentation required?
Yes. To ensure the integrity and credibility of the list, we require that all applicant companies submit audited financial statements for proof and verification for their revenue figures.
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What if my company is public?
Public companies are not eligible for the South Africa Fast Growth 100. However, if a company was privately held and independent up to 31 December 2009, it is still eligible.
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What if my company is independent but is about to be acquired or go public?
Your business is eligible as long as it is privately held and independent as of 31 December 2009.
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Does my company have to be profitable to be eligible?
No. The South Africa Fast Growth 100 is determined solely by sales growth, and profitability does not enter into the equation.
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Will being recognised on the South Africa Fast Growth 100 reveal information about my company to my competitors?
As a part of the program, we will publish your 2007-2009 growth rate, location, industry, number of employees, year founded, and your company's Web address. Your specific revenues will not be published and all your audited numbers will be kept confidential by AllWorld Network. Your 2009 revenue will be reported in a range of 0-5 million dollars, 5-10 million dollars, 10-20 million dollars, 20-50 million dollars or 50 million dollars and above. We will also publish a short profile of your company. The other information provided in the CEO Survey will only be reported in aggregate, in other words, your company’s survey results will be combined with those of other companies to preserve the confidentiality of your answers.
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Right now, I'm not sure I want my company to be on the South Africa Fast Growth 100? Can I apply now and withdraw my application later?
You may withdraw at any time.
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What and when is the South Africa Fast Growth 100 Leadership Summit & Awards Ceremony?
The South Africa Fast Growth 100 final list will be announced in Fall 2010
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Who are the South Africa Fast Growth 100 partners and what do they do?
Who is AllWorld Network?
Ten years ago, the founders of AllWorld Network, Professor Michael Porter of the Harvard Business School, and Inc. Magazine created the Inner City 100, a list of high growth companies in America's urban areas. In the first year, 115 companies applied to the list. In 2008, just ten years later, 10,000 companies applied to be on the US 100 list.
A few years after launching the US list, they were asked by then-Chancellor of the Exchequer Gordon Brown to replicate their model in the UK, creating the UK Inner City 100 list in partnership with the Financial Times.
In 2010, AllWorld Network will launch the Arabia 500, the South Africa 100, and the Africa 500. AllWorld’s mission is to accelerate entrepreneurial innovation in the emerging world. For more information, please visit www.allworldlive.com.
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What is a nominating partner?
Each organisation participating as a Nominating Partner agrees to nominate 10 fast growth companies to the South Africa Fast Growth 100 list. The logo of each nominating partner is showcased on the South Africa Fast Growth 100 web site. However, companies can self-nominate and it is not necessary to be nominated by one of our nominating partners.
To become a Nominating Partner, please contact Dereje Bereta: dbereta@allworldlive.com
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What if I have more questions that are not listed here?
If you have further questions, please contact Dereje Bereta: dbereta@allworldlive.com
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Thank you for your interest in the South Africa Fast Growth 100
AllWorld’s mission to make visible ALL the scalable growth entrepreneurs of the emerging world, creating the largest information system and network of growth entrepreneurs.
