As the 13th largest city in the country, Fort Worth continues to compete on a national stage for creative, high-growth businesses. That’s because high-growth companies create jobs, drive innovation and invest dollars into the local economy.
But there’s strong competition for these businesses, especially in Texas.
Between 2016 and 2019, 49 Fort Worth companies made Inc. Magazine’s annual list of the top 5,000 fastest growing companies in America. By comparison, Austin had about seven times as many as Fort Worth with 340 companies, and Dallas had about five times as many as Fort Worth with 254 companies. Even San Antonio weighed in with 86 companies.
Inc. Magazine’s prestigious list is an important national indicator of a city’s economic potential – it’s basically similar to the Forbes 500 list of the largest U.S. companies, but for startups. The three-year median growth rate of companies on the list is an impressive 165%. As local startup resource Sparkyard notes in its in-depth analysis, inclusion on Inc. Magazine’s list “means your company is doing something right and is growing at warp speed.”
But it’s important to note that unlike many similar lists, Inc. Magazine requires companies to apply for potential inclusion on their list.
In other words, Inc. Magazine doesn’t scour the financials of thousands of companies across the nation to compile their data, and instead relies on business owners to reach out if they think their business has shown exponential growth over the past several years.
How many Fort Worth businesses would be on the list, if only local business owners knew to apply?
Eligibility and how to apply
Fort Worth companies are encouraged to submit their information to Inc. Magazine’s annual list of the 5,000 fastest growing companies in America in order to better showcase Fort Worth’s growing business community to a national audience.
Companies don’t have to be a startup to be part of the Inc. Magazine list. They just have to meet these qualifications:
Companies must have generated revenue by March 31, 2017.
Companies must have made at least $100,000 in revenue in 2017.
Companies must have generated at least $2 million in revenue during 2020.
Companies must be independent, privately held, for-profit entities based in the United States.
Companies must be prepared to submit their financials for the past three years to Inc. Magazine for verification.
Business owners interested in submitting their companies can visit the Inc. Magazine website to learn more, submit their application fee and get started. Early-bird rates are in effect through March 26.
Currently, the highest-ranking Fort Worth company on the Inc. Magazine list of fastest growing companies is Circle L Solar at No. 176, which grew 2,251% between 2016 and 2019.
By: City of Fort Worth
