Pushpay takes top ranking on 2016 Deloitte Fast 50

16 November 2016

Media Release

Pushpay takes top ranking on 2016 Deloitte Fast 50
Hamilton-based Parking Sense wins national Rising Star award

Auckland’s Pushpay, a developer of mobile commerce tools, has taken the number one ranking on this year’s Deloitte Fast 50 with an outrageous 4574% growth.

Auckland-based digital customer relationship management platform Plexure (1197% growth), Christchurch house lifter SmartLift Systems (1028%), Wellington brewery Panhead Custom Ales (925%) and Auckland travel company All Blacks Tours (822%) round out this year’s top five.

Digital parking management company Parking Sense was named the 2016 national Rising Star.  The Rising Star awards are designed to recognise early-stage, innovative, high potential companies – the next generation of Fast 50 businesses.

The annual Deloitte Fast 50 index, in association with BNZ, was announced tonight at the Deloitte Festival of Fast Growth.  The index ranks businesses experiencing rapid revenue growth over three years across a range of sectors, including manufacturing, 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 225%, the highest entry threshold since the inception of the index in 2001,  and the top 3 companies all had three-year growth rates in excess of 1000%. Thirty-eight companies are appearing on the Deloitte Fast 50 for the first time and 27 companies have revenues under $5 million.

A total of 24 companies on the 2016 index are from the Auckland and Upper North Island region, followed by 9 from Christchurch and the Upper South Island, 7 from Wellington and the Lower North Island, 6 from Dunedin and the Lower South Island and 4 from the Central North Island.

Thirteen companies classify themselves as technology companies, twelve are consumer businesses, nine are from the construction industry and four each are from the financial services and tourism industries.  The remaining eight companies on the index are from the agribusiness (2), health (2), energy/utilities (2), education (1) and manufacturing (1) industries.

Deloitte Private partner Bill Hale says the high level of diversity among this year’s Fast 50 companies is similar to last year, underscoring that any type of business, from anyplace in New Zealand, can do well with the right approach.

“This is important as it creates job opportunities across more than just the tech industry, and demonstrates that SME businesses can be successful in their niche with good strategy and good execution,” he says.

“The average 2016 Deloitte Fast 50 business has 33 employees, is just over 6 years old, has annual revenue of $10.3 million and a 482% three-year growth rate.”

Along with being the number one ranked business on the 2016 Deloitte Fast 50, Pushpay took out the national awards for fastest growing exporter and fastest growing technology business. The third ranked business on the index, SmartLift Systems, won the national award for fastest growing services business and fourth ranked Panhead Custom Ales won the national award for fastest growing manufacturer.

Other national category awards went to fifth ranked All Blacks Tours for fastest growing retail or consumer products business, IFS Forestry for fastest growing agribusiness and  BLIS Technologies for fastest growing mature business.

The Deloitte Festival of Fast Growth, held for the fourth time 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.

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