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Tuesday, August 24, 2010

NextDocs is Philadelphia region's fastest-growing firm

A King of Prussia software company called NextDocs Corp. gets bragging rights as the Philadelphia region's fastest-growing privately held company, according to Inc. magazine. (Read the NextDocs entry here.)

The annual Inc. 500 list (along with its more populous Inc. 5000 list) was released Tuesday (read it here). Rankings are based on percentage revenue growth from 2006 through 2009. The minimum revenue for 2006 is $80,000; the minimum for 2009 is $2 million.

NextDocs grew at a 3-year growth rate of 4,342 percent. Founded in 2005, the company customizes Microsoft software for use by clients in the life-sciences industry. It had 50 employees and revenues of $6 million in 2009. (Company Web site here.)

Only six companies from the Philadelphia area made the Inc. 500 list. (A total of 132 appear on the Inc. 5000 list; view it here.) Besides NextDocs, they are:

No. 205 - Aromatic Fusion, of Bensalem, with a growth rate of 1,418 percent;

No. 257 - Decision Distribution, of Yardley, 1,204 percent;

No. 415 - Optimal Strategix, of Newtown, 713 percent;

No. 440 - McKean Defense Group, of Philadelphia, 680 percent;

No. 467 - Drakontas, of Camden, 642 percent.

Sounds like some fast growth, right? Well, the nation's fastest-growing firm, according to Inc.'s annual list, clocked in at 20,369 percent revenue growth. And Dallas-based Ambit Energy is no tiny firm. Its 2009 revenue was $325 million.

Find further breakdowns of the list by industry, geography and more here.
Posted by Mike Armstrong @ 11:31 AM  Permalink | File Under: Small Business | 3 comments
Comments   
  • 0 like this / 0 don't   •   Posted 12:01 PM, 08/24/2010
    Notice how most of these growing businesses are not located in Philadelphia. Entrepreneurs realize that the business climate in the city is inhospitable, and wisely locate in the burbs.
    — jfar86
  • 0 like this / 0 don't   •   Posted 3:46 PM, 08/24/2010
    What you should really notice is the lack of these businesses in PA and the region. In the top 100 fast growing businesses there were 2 from PA, 3 from NJ, 19 from CA, about 12 from TX. MD and VA also blew us away. Apparently, smart, innovative entrepreneurs go to California and elsewhere, but not PA whether in Philly, the Philly burbs, or anywhere else in the state.
    — plugh
  • Comment removed.


3 comments
About Mike Armstrong
Mike Armstrong, a business editor and writer for nearly two decades, is the Inquirer's business columnist and PhillyInc blog editor. Contact Mike via e-mail or at 215-854-2980
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