The Growth 500 ranking of Canada’s Fastest-Growing Companies—formerly known as the PROFIT 500—is Canada’s most prestigious celebration of entrepreneurial success. Click here to learn more about the ranking. Nominations for the 2019 Growth 500 and Startup 50 are now closed.
We're looking for winners:
Enter the 2020 Growth 500 now!
Do you run one of Canada's Fastest-Growing Companies? We want to hear from you!
Join the winners' circle
Celebrating its 32nd year of ranking Canadian companies on five-year revenue growth in 2020, the Growth 500 ranking of Canada’s Fastest-Growing Companies—formerly known as the PROFIT 500—is far and away Canada’s largest annual celebration of entrepreneurial achievement. Winners join an elite community of our country’s most successful, vibrant and important businesses. There are many reasons to enter, including valuable editorial exposure in Maclean’s and Canadian Business (reaching millions of readers from coast to coast), plus the opportunity to attend the 2020 Growth 500 CEO Summit, an exclusive event designed specifically for the leaders of Canada’s Fastest-Growing Companies.
Is your growing business too young for the Growth 500? Not to worry! We also celebrate younger companies (that is, businesses that are less than five years old) with strong two-year revenue growth with the Startup 50, a special companion ranking dedicated to Canada’s Top New Growth Companies!
It’s easy to enter! Whether you’re interested in entering the Growth 500 or the Startup 50 for 2020, simply fill out and submit the ballot below to declare your company’s candidacy. If it looks as though your firm is a contender for either ranking, our research team will contact you starting in March 2020 to find out more about your business and to verify your financial data.
We’re here to help
If you have any questions about the Growth 500 or Startup 50 application process, or the rankings in general, please email the Growth 500 research team at firstname.lastname@example.org.
Frequently Asked Questions
- What is the Growth 500?
- Celebrating its 31st anniversary in 2019, the Growth 500 ranking of Canada’s Fastest-Growing Companies—previously known as the PROFIT 500—ranks Canada’s top private and public companies based on five-year revenue growth. Results of the annual ranking, with stories profiling the growth leaders who make the list, will be published in a special report in the October issue of Maclean’s magazine (reaching millions of readers from coast to coast) and at CanadianBusiness.com. Quebec-based winners are also featured in L’actualité magazine’s ranking of Les Leaders de la croissance.
- What is the Startup 50?
- Because the Growth 500 is based on five-year revenue growth, businesses must be at least five years old to be eligible. But we believe fast-growing younger firms deserve commendation, too. That's why we also celebrate the growth of younger companies with the Startup 50 ranking of Canada’s Top New Growth Companies, a companion to the Growth 500 that ranks public and private firms on two-year revenue growth. The entry process for both rankings is the same.
- Why should my company enter the Growth 500 or Startup 50?
- The Growth 500 and Startup 50 are designed to celebrate winning companies, and past winners report they have benefited in many ways from their appearance on the list. In addition to national media coverage in Maclean’s and at CanadianBusiness.com, many winners get publicity from local and industry-specific media outlets. It is common for winners to see increased employee motivation, receive industry accolades and make contacts with potential new customers and collaborators. We also honour the leaders of winning firms at an exclusive, invitation-only CEO Summit, featuring top-tier speakers and unparalleled networking opportunities. Finally, there’s also the sheer satisfaction that comes from knowing your business is among Canada’s best.
- How are the Growth 500 and Startup 50 ranked?
- The Growth 500 ranks firms by their percentage sales growth over the past five years. For the 2019 ranking, participating firms must reveal their gross revenues for 2013 and 2018 (or 2014 and 2019, where 2019 results are available).
- The Startup 50 ranks younger companies (founded after July 1, 2013 for the 2019 ranking) on two-year sales growth. Participating Startup 50 candidates must reveal their gross revenues for 2016 and 2018 (or 2017 and 2019, where 2019 results are available).
- What financial information will be published about the companies?
- To best serve participating companies, Canadian Business and the Growth 500 adhere to the following guidelines regarding the financial information we publish about winners:
- Revenue figures for the most recent year (e.g., 2017) will be published only as a range (e.g., an actual revenue figure of $3.7 million will be published as “$2-5 million”)
- We will not publish revenue figures for the base year used in our calculations (e.g., 2013 for Growth 500 candidates; 2016 for Startup 50 candidates), though we will require that information for verification purposes
- We will not publish any information about the profitability of individual companies
- Sample: The financial information accompanying a winning firm’s 2019 Growth 500 listing might be presented like this: “EntrantCompany Ltd. / 2018 revenue: $2-5 million / 5-year growth: 127%.” (Click here to review the information published on 2018 winners)
- How is revenue recognized for the ranking?
- We define gross annual revenue per generally accepted accounting principles (GAAP). Sales that cannot be booked as revenue under GAAP do not count for the purposes of the Growth 500. (For instance, a travel agency can claim as revenue its commissions on airline tickets sold, but not the total dollar value of the tickets.) Gross revenue must be reported net of returns and discounts. Franchisors must report corporate revenue only.
- How are candidates’ claims verified?
- After submitting a ballot, all eligible candidates must complete an in-depth candidates' questionnaire before submitting complete financial statements for the fiscal periods used to calculate a five-year (for Growth 500 candidates) or two-year (for Startup 50 candidates) growth rate. Our policy of verifying financial statements is what give the Growth 500 and Startup 50 credibility, and is a mandatory step for prospective winners. Companies that fail to complete the candidates' questionnaire and/or provide financial statements will not be considered for the Growth 500 or the Startup 50.
- Who can enter the rankings?
- To qualify for the Growth 500 ranking of Canada’s Fastest-Growing Companies, or the Startup 50 ranking of Canada’s Top New Growth Companies, a company must:
- Be headquartered in Canada with significant operations in Canada
- Be independent (i.e., not a division or subsidiary, unless the parent company is strictly a holding company)
- Have majority Canadian ownership if owned by private individuals or companies. (Public or venture-backed companies with 50% or less Canadian ownership will be judged on a case-by-case basis)
- Operate at arm’s length from related companies that have also declared their candidacy for the ranking (See “Can related companies apply separately?” below)
- In the most recent fiscal year used in the five-year growth calculation (e.g., 2018): Growth 500 companies must have revenue of $2 million or more
- In the base year used in the five-year growth calculation (e.g., 2013), qualifying companies must have been generating operating revenue
- In the base year used in the five-year growth calculation (e.g., 2013), any companies with revenue of less than $200,000 will have their revenue for that period lifted to $200,000 for the purpose of calculating five-year growth that is not grossly exaggerated by immaterial differences in the base-year revenues of otherwise equal candidates (for instance, a company that grows from $1 to $2 million would have a higher growth rate than a company that grows from $2 to $3 million). Here’s a sample calculation that shows how this works: A company that reports 2018 revenue of $2.2 million and 2013 revenue of $100,000 would be assigned the minimum 2013 revenue of $200,000, resulting in a five-year growth rate of 1,000%: (2,200,000 – 200,000) / 200,000) * 100 = 1,000%.
- In the most recent fiscal year used in the two-year growth calculation (e.g., 2018): startups must have revenue of $1 million or more
- In the base year used in the two-year growth calculation (e.g., 2016), qualifying companies must have been generating operating revenue
- In the base year used in the two-year growth calculation (e.g., 2016), any companies with revenue of less than $200,000 will have their revenue for that period lifted to $200,000 for the purpose of calculating two-year growth that is not grossly exaggerated by immaterial differences in the base-year revenues of otherwise equal candidates (for instance, a company that grows from $1 to $2 million would have a higher growth rate than a company that grows from $2 to $3 million). Here’s a sample calculation that shows how this works: A company that reports 2018 revenue of $1.2 million and 2016 revenue of $50,000 would be assigned the minimum 2016 revenue of $200,000, resulting in a five-year growth rate of 500%: (1,200,000 – 200,000) / 200,000) * 100 = 1,100%.