Wilmington, NC-Global Test Supply announced today thatInc.magazine today ranked Global Test Supply as No. 800 on its fourth annual Inc. 5000, an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy-America’s independent-minded entrepreneurs.
“The leaders of the companies on this year’s Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression,” says Inc. president Bob LaPointe. “The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs.”
Founded five years ago, Global Test Supply is a B2B web-and-mortar business serving over 10,000 customers in 89 countries. Global Test Supply sells, purchases, and leases test and measurement equipment, electronic production supplies,and process control solutions. Working with more than 300 manufacturers in 440 plus product categories, their product portfolio has grown to over 20,000 products from top brand-name manufacturers including 3M, Agilent, Flir and Megger.
“Making the Inc. 5000 is the ultimate honor for our five year old company. Global Test Supply is a real world model of web-based business efficiency and profitability," states Robert Preville, president and CEO. "Our young, entrepreneurial enterprise has achieved steady growth based on our proprietary, back-end business management technology, and in-house development of SEO strategies. We continually develop software applications that enhance productivity in all facets of our operation. This allows us to keep our primary focus on customer service and the addition of new-to-the-market products. The result has been a loyal clientele and hard-dollar ROI.”
Last year, Preville also received a distinguished Coastal Entrepreneur Award recognizing emerging ventures and entrepreneurial leaders in the Wilmington/Southeastern NC area. Global Test Supply received top honors in the Manufacturing/Distribution category. Also in 2009, the company launched Global Scientific Supply, an online superstore serving the chemical, medical and pharmaceutical sectors. This one-stop resource for scientific instrumentation and laboratory supplies was modeled on the success of Global Test Supply.
The 2010 Inc. 5000
Unveiled today on Inc.com, the 2010 Inc. 5000 serves as a unique illustration of the profound changes taking place in the U.S. economy. The Government Services sector showed the biggest gain in terms of the number of companies on the list, up 33% from last year to 335 companies. Government Services was also the second-fastest-growing sector in terms of median revenue growth, posting a 202% gain over the 2006-2009 measuring period. More than half of these companies are based in Maryland, Virginia and Washington, D.C.
The fastest-growing sector by median revenue growth was Real Estate, now just a tiny group of 38 young, small companies, which showed 231% median growth over the period. (There were 121 Real Estate firms on the inaugural Inc. 5000 in 2007.) Business Products & Services is the top industry by number of companies on the list (640) and total revenue ($80.7 billion), while Health is the biggest by total employment (287,726 jobs).
The 2010 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. Additionally, they had to be based in the United States, privately held, for profit, and independent-not subsidiaries or divisions of other companies-as of December 31, 2009. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. The top 10 percent of companies on the list constitute the Inc. 500, now in its 29th year.