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O.C. missing from Fortune’s fastest-growing firms list
July 9th, 2009, 6:00 am · 3 Comments · posted by Jan Norman, small-business columnist
Orange County has no entries in Fortune magazine’s 9th annual list of fastest growing small public companies for the first time in at least four years.
Four local companies were on the list in 2008. California dropped from 18 entries in 2008 to 10 this year. It’s possible the decline reflects the relatively deeper recession here than in other parts of the nation.
Here are the number of companies on Fortune’s list of fast-growth small companies:
Source: Fortune Small Business
Fortune Small Business compiles the annual list based on companies with less than $200 million in annual revenues and stock price above $1. Growth is calculated on the past three years of revenue.
The fastest growing company on the 2009 list is Life Partners Holdings with 121% growth. That’s considerably slower than in 2008 when the top company, Astronics in East Aurora, N.Y., grew 201.4%.
“To thrive in these conditions, you must be extraordinary,” the magazine quotes Ted Zoller, director of the center for entrepreneurship at Kenan Flaglar Business School at the University of North Carolina at Chapel Hill. “You have to offer a smart solution that solves a genuine problem for customers.”
California often has more companies on the list than any other state, but this year, New York had 13.
O.C. entries on the 2008 list were:
- ICU Medical, San Clemente, 45th
- Quality Systems, Irvine, 52nd
- Smith Micro Software, Aliso Viejo, 85th
- CAM Commerce Solutions, Fountain Valley, 98th
Click here for the entire 2009 list and access to previous years’ lists.
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Wait until employers start seeing their workmans comp rates rising, California is taxing the small business owners right out of business. How can hiring be stimulated or at least maintained while costs continue to go up and the price of goods and services goes down. I am beginning to hear a little voice that warns, we may fall completely from grace before this downturn/depression ends.
Yep Nazar, workmans comp and taxes. Dont forget even more stringent environmental regulations and more heading for approval. This all is pricing California out of being able to compete profitably. All the while other states offer incentives to attract new businesses.
Lastly, the high cost of housing fuel and long commuting make the living costs of the worker high, which again gets passed on to the employee.
Edit:
“…the living costs of the worker high, which again gets passed on to the employeR.”