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Agenda: January / February 2006



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Live fast and prosper

Every issue of Progress focuses on the main mission of the brand, which is to promote the following things: the attraction and retention of people, their innovation, and their enterprise; the formation, retention, and repatriation of capital; and the growth of Atlantica, which will position our region as the centre of global trade.

By surveying and analyzing the Fastest Growing Companies of the region, we get an insight into two of the main elements of our mission: people and capital. Only a few years ago, most regional fast-growth companies were high-tech, dot-coms, or other high-risk ventures. Many flamed out because management focus was revenue growth and not revenue and profit growth.

Companies that are pursuing fast-growth strategies have tremendous challenges, such as meeting the capital requirements, finding the right people, understanding future market needs, keeping management ahead of the curve, developing plans with solid planning, maintaining shareholder and lender confidence and engagement, and ensuring profitability. It's a tough place to be, and that's why it's so important to learn about these companies. It's reassuring to know that profitable fast-growth companies are operating in the region.

Just as important is seeing the impact these companies are having on the economy. They need more capital to fuel their growth, so they offer an opportunity for local and foreign capital investment. They need more people to manage and grow their companies, so they hire both locally and offer increased opportunities for immigrants. In most cases, these companies need highly skilled people. They are often well compensated and end up staying in the region, thus

boosting their communities and the economy.

Several Fastest Growing Companies are doing business around the world and not just in their home market. This is important for many reasons, but the most important one is that profits earned on sales from export markets are brought back here. That is new capital on their balance sheets and new capital to be employed here.

While not yet on the Fastest Growing list, one service company recently landed some new business from the United States: The Oyster Group of Dartmouth, N.S., is a subscription-fulfillment company that manages paid and by-request subscribers for magazines such as Progress, Progrès, Saltscapes, and Eastern Woods & Waters. The Oyster Group is one of only three fulfillment-service bureaus in Canada.

The company's president, Faith Drinnan, started marketing in the U.S. about three years ago and now has one American publisher's complete file (Canadian and American). This is a big breakthrough because Drinnan beat out several American competitors to win the contract. She is now an exporter and is getting business that the other two Toronto-based service bureaus are missing.

It's this kind of growth and success that our businesses are capable of taking on. We need to believe in them and their people. These kinds of companies attract the best and the brightest and bring much more to their communities than money. Our Fastest Growing Companies instill in us a sense of confidence and hope, and they promote the idea that great people can build great companies and create great wealth—right here where they belong.


© Contents Copyright 2006
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