A total of 113 Houston-based small businesses made the Inc. 5000 List for this year, an increase of 13 over last year. The list, released by the business magazine every summer, charts the fastest-growing privately-held companies in the U.S. The number of qualifying companies places Houston second on the list of Texas cities and just outside the top ten nationwide.
To qualify for the list, a company must:
- Be privately-owned, based in the United States, independent (not a subsidiary or division of another company)
- Have started earning revenue by March 31st, 2013
- Had revenue no less than $100,000 in 2013
- Had revenue no less than $2,000,000 in 2016
- Revenue in 2016 exceeds revenue in 2013
According to the magazine, the fastest-growing company in Houston was Discount Power Texas. The electric utility provider, which was founded in 2009 recorded just over $98 million in revenues in 2016. Compared to 2013 revenues, Discount Power grew by an astounding 6,045 percent, good for the No. 52 slot nationwide. The company also ranked No. 3 in Texas and No. 6 in the energy sector.
Active Faith Sports, founded in 2012, creates, designs, and markets sports apparel with faith-based and messages. The company was the second-fastest-growing company in Houston, with a three-year growth rate of over 2,500 percent. It also ranked in the No. 10 spot in Texas, as well as No. 10 for qualifying retailers nationwide.
Among Texas cities, the Dallas-Fort Worth Metroplex had the most representatives on the list with 185 companies, placing it in the sixth slot nationwide. Austin was also in the top 20 cities, as its 91 companies placed it fifteenth overall. New York City took the top spot, with 355 qualifying firms.