HAMILTON, ON – Today, in collaboration with BDC, Canada’s bank for entrepreneurs, Hamilton’s Mayor Fred Eisenberger announced the top 40 fastest growing businesses in Hamilton. The Fast 40 program represents the ones to watch in business in Hamilton. This unique ‘made in Hamilton’ initiative was created as part of the City’s 2016-2020 Economic Development Action Plan. The Action Plan identifies a “stretch target” that aims to have 10 Hamilton based businesses listed on ‘The Growth 500’, Canadian Business Magazine’s 500 Fastest Growing Businesses. Companies that achieve top 40 status in Hamilton are then encouraged and assisted in applying for the national honour.
The City’s Economic Development Office is the central point of contact for business assistance in Hamilton. The Top 40 Program is just one example of the services they provide that are geared to serve new start-up companies, corporate relocations, and the expansion and retention of existing business. Its mission is to serve as the catalyst for continued economic growth, job creation, and revitalization in Hamilton.
- Each year in May, businesses can apply to be a “Fast
40” company by meeting the following criteria:
- Required to have a head office in Hamilton
- Questions will mirror the Canadian Business Magazine’s Growth 500 competition, with similar evaluation metrics (growth measured by 5-year change in revenue)
- Companies with two or more years of history but less than five can also participate
- Companies are required to disclose revenue and employment totals, but the information will not be shared or published- rather, only the % change
- Companies do not need to provide financial statements for verification; Hamilton Economic Development would rely solely upon attestation of CEO.
- An important outcome of the Fast 40 program is that it helps the City identify scalable companies, those expanding into new markets, and the various areas of job growth for the Hamilton economy.
- For three decades, Canada’s Fastest-Growing Companies program has identified and celebrated the most important and innovative businesses in the country. Since launching in 1989, it has ranked Canadian businesses on five-year revenue growth.
- Partners in the Hamilton Fast 40 program to date
- Hamilton Chamber of Commerce
- Stoney Creek Chamber of Commerce
- Flamborough Chamber of Commerce
- Innovation Factory
- The Forge (McMaster Innovation Park)
“These fast-growing companies are a big reason behind Hamilton’s growing and diversifying economy. Congratulations to Hamilton’s Fast 40, who represent some of the very best in business our city has to offer. Thank you for being part of Hamilton’s transformation story.”
Fred Eisenberger, Mayor, City of Hamilton
“We are thrilled with the calibre of the Fast 40 and even more thrilled with the fact that many of these companies went on to achieve the national ranking. Hamiltonians should be very proud of the list of companies on the Fast 40 and our office encourages other businesses in the city to consider applying for this ranking in the Spring of 2020.”
Glen Norton, Director, Economic Development
“Hamilton’s Fast 40 companies are driving incredible growth opportunities for the local economy. As Canada’s bank for entrepreneurs, we are excited to be a major sponsor of an initiative that aims to recognize, promote, connect and assist growing companies. Congratulations to this year’s Fast 40 leaders.”
Jennifer Clark, BDC Hamilton Business Centre Manager,
Congratulations to the 2019 winners!