Singapore's Fastest Growing Companies 2023
The Straits Times and Statista are going to produce – for the fifth time – a special report on Singapore’s Fastest-Growing Companies to be published in January 2023.
After the great success of the previous edition that gained widespread media coverage, we are happy to announce a new iteration of the competition.
In preparation for this, The Straits Times and Statista are looking for companies with strong revenue growth between 2018 and 2021.
For us to ascertain whether your business does indeed qualify for our list, we invite you to send us your revenue figures for the years 2018 and 2021 as well as some additional information, including your company’s headcount at the end of 2018 and 2021.
Companies which manage to secure a position in the ranking will be listed in an interactive table on straitstimes.com. They will also be featured in The Straits Times newspaper and in a special report supplement.
Why should my company participate?
New business opportunities: An inclusion in the list of the Straits Times is a visible and public acknowledgement of your company’s performance that extends far beyond your specific industry and country. It will also generate attention for your business on the part of potential partners, customers, and investors around the world.
Employer branding: Corporate growth usually generates demand for new employees. Being featured in the high-profile ranking of the Straits Times will not only increase awareness of you as an employer, it also gives potential employees an understanding of your company’s future potential.
Effective media coverage: Companies which manage to secure a position in the ranking will be listed in an interactive table on straitstimes.com. They will also be featured in The Straits Times newspaper and in a special report supplement.
Reputation: All companies that make it into the list may use the award logo for marketing purposes.1
Access to more than one million facts: All participants that provide us with data on their revenue are eligible for a free two-day Statista Corporate Test-Account (with limited download volume) as a thank you – irrespective of whether or not they are among the top companies.
1 The use of the label and the word-and-image logo “Singapore's Fastest Growing Companies 2023“ for marketing purposes is subject to a one-off payment of a licence fee. Inclusion in the ranking, however, is completely free of charge.
Who is eligible?
In order to be included in the ranking your company must meet the following criteria:
- Revenue of at least 150,000 SGD generated in 2018
- Revenue of at least 1.5 million SGD generated in 2021
- Be independent (the applying company is not a subsidiary or branch office of another company)
- Be headquartered in Singapore
- The revenue growth between 2018 and 2021 was primarily organic (i.e. “internally” stimulated)
How do I register?
Please register with Statista by 31 August 2022.
Verification of revenue information
Your revenue data needs to be verified. Please use this form for this purpose. The form must be signed in person by a Managing Director or a member of your Executive Committee (CEO or CFO). It must then be sent to Statista by email, fax, or mail. All necessary address details can be found on the form.
Form of Verification as PDF document
Should you have any additional questions or would otherwise like to contact us, please email firstname.lastname@example.org.
- Do I have to pay to register?
- Do I have to pay to be included in the ranking?
Not at all. If included in the ranking, your company is free to celebrate its success via a press release, social media, or a company website. Only businesses that want to use the official seal featuring the Straits Times and Statista logos with the title Singapore's Fastest Growing Companies 2023 have to pay a licence fee, in a one-off payment. The seal will be available after publication of the ranking.
- Do I have to purchase the Singapore's Fastest Growing Companies 2023 licence in order to point out or make reference to my place in the rankings?
No. All those who apply and make it into the top list are completely free to publicise this fact. The official seal Singapore's Fastest Growing Companies 2023, available for a licence fee, is merely an additional option for those who want to advertise and promote their achievement in a more visually striking manner.
- Is the creation of Singapore's Fastest Growing Companies 2023 ranking commissioned and paid for by customers?
No, this project has two revenue sources: revenues from licence fees, as outlined above, and advertisements on straitstimes.com where the ranking will be published.
- Who is eligible to participate?
All companies that meet the above mentioned requirements.
- My company is wholly or partly owned by venture capital, private equity firms or investment funds. Can my company still qualify for Singapore's Fastest Growing Companies 2023?
Yes, as long as it complies with the aforementioned criteria.
- My company was founded during the course of 2018. Can I still participate?
Yes, as long as it complies with the aforementioned criteria. Additionally there will be a footnote stating that your first fiscal year was incomplete.
- How do you verify the data provided by participants?
Revenue data are verified through the signing off of this form by the managing director/CEO, the finance director/CFO or a member of your executive committee. The form may be forwarded via email, fax or post.
- When is the registration deadline?
Registration through the online form can be completed between May 9th and August 31st 2022.
- Until when am I able to submit the revenue verification form?
The deadline for us to receive this document is August 31st 2022.
- On what criteria is the ranking of Singapore's Fastest Growing Companies determined?
The ranking is determined by the growth in revenue between the years 2018 and 2021.
- How will Statista calculate the average growth in revenue of a company?
We use the compound annual growth rate. For example, if a company achieved total revenue of 1.5m SGD in 2018 and total revenue of 7.5m SGD in 2021, we calculate an average yearly increase of 71%.
- The fiscal year of my company does not coincide with the calendar year. However, the survey and the form ask for the total revenue for the calendar years of 2018 and 2021. Which revenue information should I provide?
Please provide the revenue details for the fiscal years which fall predominantly in the calendar years of 2018 and 2021. For example if your company’s fiscal year is from 01/04/2021 to 31/03/2022, this fiscal year falls mainly in 2021, so use this for 2021 revenues. If your company’s fiscal year is from 01/10/2020 to 30/09/2021, this fiscal year falls mainly in 2021 as well, so use this for 2021 revenues.
- Which definition of revenue will be observed in the Singapore's Fastest Growing Companies list?
Net revenue adjusted for returns, excluding value added tax and derived solely from business activities (excluding any other operating income) as disclosed in your company report.
- Are further key data, such as profitability, relevant for the Singapore's Fastest Growing Companies ranking?
As a minimum, we require data on revenue growth. However, we also encourage you to add any pre-tax profit information to the registration form. While we state that pre-tax profit is not required, such information will help us better understand your company. Moreover, such transparency is likely to attract more editorial attention to your company in the special report.
- When will Singapore's Fastest Growing Companies 2023 ranking be published?
The ranking will be published in January 2023.
- Which information concerning individual companies will be published by The Straits Times?
The following information will be released about the top companies: the company name, the average growth in revenue and the total revenue for the years of 2018 and 2021, the number of employees in 2018 and 2021, the founding date of the company, the URL of the company website, as well as the location of the head office and the pre-tax profit if provided.
- How will I find out whether or not my company has made it into the ranking?
The results of our research will be published in the Straits Times and on straitstimes.com so that the findings can be read and shared by everybody. In advance of this, the successful companies will be informed by post of their inclusion in the list.
The Straits Times and Statista retain the right to change the criteria and/or produce new criteria at any point in the project’s lifetime.