INTERNATIONAL market research firm Statista is on a search for the fastest-growing companies in Malaysia.
Its aim is to give recognition to these high-growth companies in a compilation and ranking of “Malaysia’s Growth Champions”, based on their revenue growth between 2015 and 2018.
Participation is free and simple; all that is needed is to fill out an online form.
Companies that manage to secure a place in the inaugural ranking of Malaysia’s Growth Champions will be published in The Star; additionally, they have a chance to enter the upcoming edition of UK daily Financial Times’ High Growth Companies Asia-Pacific, both free of charge.
“We have done this type of initiative for many years in various countries, first in Europe then in Asia,” explained Friedrich Schwandt, founder and CEO of Statista, based in Germany.
“We were encouraged by a high participation rate,” he said.
A platform to showcase your strengths
Schwandt recommended that Malaysian companies that have achieved an annual growth rate above 8-10% in the years 2015-2018 should register.
Statista’s Head of Asia Kit Foong added, “I am excited to see the response to our call for applications and, ultimately, the ranking. It is a fantastic platform for companies to understand their position in both a local and, potentially, regional context.”
Thomas Clark, the global head of Corporate Development in Statista, explained the intention of the initiative, the experience from other countries and what companies can gain when they participate.
He described that his experience from other countries showed that companies with the highest chances of being ranked are those that are young and vibrant, rather than the big corporate players.
“That’s not surprising, as we look at the cumulative annual growth rate between 2015 and 2018 and it’s obviously easier to grow exponentially when you start with a low revenue level,” he explained.
“Yet finding out about these relatively new enterprises is also the beauty of this initiative. Therefore, we have set the revenue threshold very low. In order to be eligible, a company only has to record revenues of at least RM500,000 in 2015.”
However, there are exceptions. “To every rule, there tend to be exceptions, and I am sure this could apply to this search as well. I remember a search in 2017 for the fastest-growing companies based in the UK where a 240-year-old company entered the ranking.”
Clark pointed out that there is “nothing to fear and much to win” for privately-held companies to reveal their figures.
“Decision-makers are skeptical when it comes to submitting revenue data. They outline ‘competitive reasons’, fearing that clients and other stakeholders could then see how big or small they are.
“However, as soon as you engage in a conversation and try to elaborate how such fears could materialise into disadvantages, it usually turns out that all this is a perceived [fear] rather than a real problem. That’s a mentality from the 20th century, though. “
Exposure in a positive context
Clark added that entrepreneurs imbued with the spirit of the 21st century are quick to realise that securing a place in such a ranking brings advantages, as it provides exposure in a positive context.
“After all, given that we are looking at a four-year period and only let independent companies with predominantly organic growth qualify, each company in the ranking can truly claim that they have what’s most important: substance, credibility and sustainability.”
Clark said the ranking was designed to be as comprehensive as possible with Statista conducting in-depth research in conjunction with the call for registrations. Companies that are deemed potentials are also invited to take part.
However, it is sometimes impossible to find information on certain companies, hence the call to participate.
Investing in impartiality
Statista does not charge a registration fee for participation nor does the ranking have sponsors, hence, the guarantee of impartiality.
“We believe in the classic journalistic principle,” said Clark. “One should invest and spend as many resources as possible in getting the most authoritative research results.”
Statista believes charging a fee or having sponsors could prevent companies from submitting revenue figures. By not charging a fee, every company gets equal opportunity to be considered for the ranking.
Once the ranking stands, winners get the chance to buy a licence to the Official Logo of Malaysia’s Growth Champions or FT High Growth Asia-Pacific, which they can use as testament of their success in their own communications and marketing campaigns.
This is not an obligation, only an option that winners from other countries enjoy and appreciate.
Company leaders who require a benchmark are advised to refer to Statista’s Growth Champion’s list in Singapore, which was published early this year in the Straits Times.
The closing date for registration is August 31st, 2019.
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