(Updated, Aug. 25, 11:45 a.m.)
PROVIDENCE – Inc. Magazine unveiled its 2010 list of America’s 5000 Fastest-Growing Private Companies on Tuesday, with Providence-based Minimax Consulting Group debuting on the list at number 352.
The small company, with only four employees, offers statistical consults for Fortune-500 companies and boasted 834 percent revenue growth since 2006.
“Basically, we show companies how to save money, which is why we did so well in spite of the recession,” explained founder Charlotte Chabot to Providence Business News. MCG earned $2.2 million in 2009 and is ranked 28th in its industry.
Overall, the Inc. 5000 companies observed aggregate revenue of $321.6 billion in 2009, up more than 50 percent from the previous year. Government services grew by 33 percent in number of companies and the health sector became the nation’s top employer.
Nevertheless, the recent economic recession did take its toll; the 2010 list reflects that the companies’ median three-year growth decreased in 2010 to 96 percent from 126 percent a year earlier.
“The leaders of the companies on the year’s Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression,” said Bob LaPoint, president of Inc. Magazine. “The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs”.
Thirteen other Rhode Island companies, including Wildtree, Banneker Industries and Narragansett Brewing, also made the list.
On a national level, the year’s fastest-growing company was Ambit Energy, a Dallas-based firm that resells electricity and natural gas. Ambit earned $325 million in revenue in 2009 and saw a three-year growth rate of 20,369 percent.
Rhode Island and Bristol County, Mass., companies, and their ranking on the Inc. 5000 list include the following:
Rhode Island
- No. 352 – MCG
- No. 1,201 – Wildtree
- No. 1,247 – Alex and Ani
- No. 1,312 – Andera
- No. 1,557 – Amazing Charts
- No. 1,614 – Banneker Industries
- No. 2,627 – Narragansett Brewing
- No. 2,697 – SEA Corp.
- No. 3,099 – Semper Home Loans
- No. 3,135 – Carousel Industries
- No. 3,766 – (add)ventures
- No. 4,406 – Fuel Belt
- No. 4,422 – Atrion Networking
- No. 4,489 – Embrace Homes Loans
Bristol County, Mass.
- No. 934 – IneoQuest Technologies
- No. 1827 – Florence Electric/Kaydon IT
- No. 2782 – The Mortgage Group
- No. 3533 – Blount Fine Foods
- No. 3822 – Elite Storage Solutions
