2001 was a one-two punch--a recession that hit entrepreneurs hard, a terrorist attack that hit our nation even harder. But Americans--and entrepreneurs--are up to a challenge. The entrepreneurs on this year's Hot 100 list prove it's possible to not just survive, but thrive.
Our 8th annual listing of America's fastest-growing new entrepreneurial companies is compiled with assistance from D&B, the leading provider of global business information and technology solutions. How does this year's list reflect the tenor of the times?
Last year, despite the dotcom crash, 36 companies in our Hot 100 were high-tech businesses. This year, technology companies account for just 13 of the businesses on our list. And just as home sales remained a bright spot in the economy during the recession, home-related businesses--from construction to home improvement products and services--were the single largest group of companies on our list, with 27 of the Hot 100 in this category, followed by business services, with 25.
The numbers reflect tough times: This year's companies reported total sales of $673.7 million for 2001, compared to last year's $935.4 million for 2000. And while the average 2001 Hot 100 company's start-up capital was $871,000, this year's crowd launched with an average of just $546,000.
But, as our Hot 100 companies prove, smart entrepreneurs can do more with less. Learn their secrets in the stories that follow.