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Quest For NZ’s Fastest Business Heroes

Innovation and entrepreneurial spirit is alive and well in New Zealand, with the first ever corporate pulse-taking of growth nearing completion.

More than 480 nominations have been received in the inaugural Deloitte/Unlimited Fast 50 programme, which seeks to identify the top 50 fastest growing companies in New Zealand.

"The fast-growth companies of today are likely to be the blue chips of the future and the backbone of the economy," says Deloitte CEO Nick Main.

"They are the companies who can demonstrate that they've got the commitment and fortitude to grow. Fast 50 is simply about growth, and the calculations to prepare the final rankings will be made based on revenue figures supplied for three years."

To be eligible, companies must be NZ registered operations, have been in business a minimum of three years and show operating revenues of at least $100,000 in 1997/98 and $250,000 in 2000/01.

Vincent Heeringa, publisher of Unlimited magazine, says being able to identify and rank New Zealand's hottest growth companies will give a great boost to entrepreneurs and new businesses.

"The hardest part about being a self starter is the loneliness: entrepreneurs are often made to feel freakish, irresponsible and mad for pursuing things others can't see. These awards will give our business heroes encouragement and useful examples to follow."

The Fast 50 is a Deloitte global initiative, run in several countries as Fast 100, with information gleaned from publicly available data. They have been combined into the one programme in New Zealand, and because of legislative requirements, Fast 50 has invited voluntary participation.

Early results suggest that geography is no barrier to growth, with pockets of innovation spread across the country and spanning a wide range of industries.

Nominations close on August 17 and the winner receives a trip to the Global Forum of CEOs of fast growing organisations, to be held 8-10 May 2002 in Florida, US.

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