For three decades, the Canada’s Fastest-Growing Companies program has identified and celebrated the most important and innovative businesses in the country. These companies have built indelible brands. They’ve created hundreds of thousands of jobs. They’ve taken ideas and grown them into thriving empires.
And now they have a ranking with a name that better reflects that.
Today, Canadian Business (and its parent company, Rogers Media) announced today the rebranding of the PROFIT 500 ranking of Canada’s Fastest-Growing Companies program to the Growth 500 ranking of Canada’s Fastest-Growing Companies.
Why are we making this change? There are three main reasons.
First, Growth 500 is more accurate. Since launching in 1989, the Canada’s Fastest-Growing Company program has ranked businesses on five-year revenue growth. We neither measure nor rank the profitability of participating companies, making the name PROFIT 500 problematic.
The second reason has to do with relevance. The name PROFIT 500 dates back to when PROFIT was a stand-alone magazine and media brand. As PROFIT merged with Canadian Business in 2013 and has since ceased to exist as a stand-alone media brand, we feel it’s time to update the name.
Finally, people have asked for it. Winning companies—and prospective applicants—have been asking us for years to consider renaming the program to something that better reflects what it actually measures.
Deborah Aarts, program manager for the Growth 500, says the change represents a positive evolution of the brand. “Marking our 30th anniversary with a new name—one that truly reflects the full scope of what the companies recognized have achieved—felt like the right change at the right time.”
“The Canada’s Fastest-Growing Companies program has always told the stories of Canadian companies that set ambitious goals, overcame the odds, and scaled their businesses,” adds David Thomas, editor of Canadian Business. “We look forward to continuing to profile Growth 500 winners in 2018 and beyond.”
The methodology of the Growth 500 remains unchanged: as always, it ranks Canadian businesses on five-year revenue growth. The research methodology and eligibility criteria that guided the PROFIT 500 program remain unchanged. Winners will continue to be profiled editorially in a special report in Maclean’s magazine and online at CanadianBusiness.com.
Think your company is too young to qualify? The Growth 500 program also includes the Startup 50 ranking of Canada’s Top New Growth Companies, a companion list that ranks younger businesses on two-year revenue growth. Simply fill out a ballot at the link above and we’ll contact you with more.