LOCAL companies now have the opportunity to be recognised as a leading organisation based on their revenue growth in Malaysia.
Small and medium enterprises (SMEs) that have experienced a high revenue growth during the 2018 to 2021 period currently have the chance to apply for inclusion in the ranking of Malaysia’s Growth Champions, which will be compiled by international market research firm Statista.
“It is now the third year that we have invited Malaysian companies to apply for consideration to be recognised as a Growth Champion and accelerator of the Malaysian economy.
“We are curious to see which companies will manage to obtain such a title this time – a title which is clearly something special, in general and during the Covid-19 pandemic in particular,” said Statista’s founder and chief executive officer, Friedrich Schwandt, in a statement.
All participating companies will be considered for cross-border ranking in High Growth Companies Asia-Pacific, which will be published on the Financial Times global website in March next year.
This will be followed by a special report dedicated to it, to be published as a supplement in the Financial Times newspaper in April.
The rankings will also be published in The Star in February 2023.
Statista’s lead analyst for this project, Felix Kapel, added that “smaller” companies should not shy away from registering as – based on experience – young and vibrant companies tend to do better than big corporate players.
“As we look at the cumulative annual growth rate between 2018 to 2021, it’s not surprising that it’s easier to grow when you start with a lower revenue level.
“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 had to record revenues of at least RM400,000 in 2018,” said Kapel.
He added that savvy business owners are also quick to realise that securing a place in rankings, such as Malaysia’s Growth Champions, brings advantages, as it provides exposure in a positive context.
“After all, given that we are looking at a multi-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, which is substance, credibility and sustainability,” he said.
Statista also recommends that local companies that recorded an average year-over-year (y-o-y) revenue growth above 8% in the four-year period should consider registering, as this was the threshold for companies to enter in previous rankings.
The firm also does not charge a registration fee for participation, nor does the ranking have sponsors, which provides the guarantee of impartiality.
“It is a fantastic platform for companies to understand their position in both a local and, potentially, regional context,” said Statista’s head for the Asia-Pacific region, Kit Foong.
To register for Malaysia’s Growth Champions, company representatives can directly apply by entering the revenue figures of their organisation and completing this registration form.
The deadline for data submissions is Nov 30.
For more information on Statista and Malaysia’s Growth Champions 2023, visit https://www.statista.com/page/growth-malaysia.