The Women Presidents Organization (WPO), in association with JPMorgan Chase Commercial Banking, has unveiled its 16th annual listing of the 50 Fastest Growing Women-Owned/Led Companies. Marking a first in the ranking’s history, the top three spots are occupied by product-based companies from the fashion apparel and jewelry sectors.
The rankings, featuring prominent companies in staffing, technology, food and beverage, and consumer goods sectors, were compiled based on the application process wherein women entrepreneurs shared their growth stories, future business outlook, and strategies to navigate economic uncertainties. Amid inflation concerns and unpredictable market conditions, the focus remains on growth, with a substantial majority planning to pump investments into talent (88%), technology and innovation (86%), and marketing/advertising (62%).
Thelma Ferguson, Vice Chair of JPMorgan Chase Commercial Banking, lauded the entrepreneurs on the list as “industry innovators, job creators, and community leaders.” She emphasized the crucial role of women-owned and -led businesses in bolstering local and national economies.
The list’s top honorees are three fashion-related businesses. Camille Burns, CEO of the Women Presidents Organization, celebrated these women leaders and their companies for their impressive revenue growth and success in traditionally male-dominated fields.
The ranking criteria require businesses to be privately held, woman-owned or -led, and to have achieved a minimum annual revenue of $500,000 for the past five years. WPO membership was not a prerequisite for application. The ranking formula, devised by WPO, amalgamates absolute and percentage growth.
The 50 fastest-growing companies will be awarded at the WPO Entrepreneurial Excellence Forum slated for May 11, 2023, in Las Vegas, Nevada. The winners will also receive a complimentary brand audit from WPO member company, Zilker Media and a free transaction readiness consultation from WPO member company, Brown Advisory.
The full list of honorees is available at: https://www.women-presidents.com/news-events/50-fastest/2023-50-fastest-list/.