Welcome to the third annual Report on Business ranking of Canada’s Top Growing Companies. Among the 448 businesses on the list, there are four breweries, six insurance brokers, five apparel designers (four for humans, one for dogs) and one maker of robots. Regardless of where they’re located, what they make or whether they’ve been operating for five years or two decades, all these companies have one thing in common: Each managed to grow in unprecedented times. And their stories of success offer a blueprint for others to follow.
Launched in 2019 by The Globe and Mail, the program ranks participating private and public Canadian businesses on three-year revenue growth. Canada’s Top Growing Companies is a voluntary program. We accepted entries from businesses through to May 2021.
Applicant companies had to complete a full application and supply supporting financial documentation for both 2017 and 2020. We evaluated companies based on the most recent fiscal year for which financial statements were available, with a latest year-end date of April 30, 2021. In some unique cases, companies were evaluated on calendar years instead of fiscal.
In order to qualify, a company had to have at least $2 million in annual sales in its most recent fiscal year. Companies had to be for-profit, Canadian-run, headquartered in Canada and independent. In rare cases in which companies were recently acquired, they were admitted only if the acquisition occurred following the close of the companies most recent fiscal year.
This year’s list was expanded to include qualifying companies that saw their three-year revenue grow by 50% or more. As a result, the 2021 ranking includes 448 companies, compared to 400 in previous years. Franchisors were ranked on corporate revenue only, not systemwide sales. All revenue figures are in Canadian dollars, unless otherwise indicated.
Research was conducted by Deborah Aarts and Claire Robbins. To learn more about the program or to apply for the 2022 ranking, please visit tgam.ca/TopGrowing.