Being savvy and meeting consumer demands through innovation and technology have propelled some companies in Singapore to the top, according to a list of the fastest growing firms here released today.The ranking, which was compiled by The Straits Times and global research firm Statista, showed that the top 10 firms came from a variety of sectors, including support services, precious metals recycling and retail.
Many of the firms harnessed innovative technologies and solutions to meet consumers’ changing needs, especially during the Covid-19 pandemic.
The companies were ranked by their compound annual growth rate. They had to meet certain criteria for potential inclusion in the list, such as having generated revenue of at least $150,000 in 2017 and at least $1.5 million in 2020.
The study conducted last year – the fourth since the first iteration of the list in 2018 – compiled a league table of 75 local companies that achieved high revenue growth between 2017 and 2020.
Human resources platform provider Workmate topped the ranking this year, with a compound annual growth rate of 345.6 per cent.
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