Entrepreneur Reveals America's Fastest-Growing Businesses of 2008

IRVINE, Calif., April 17 /PRNewswire/ -- Entrepreneurial companies continue to be the engine driving the nation's economy, generating an astounding $4.6 billion in 2007 revenue. The fastest-growing of those businesses are spotlighted in the 14th annual 2008 Hot 100 listing from Entrepreneur.

Of the 100 companies that made the cut for 2008, 76% had turned a profit -- and 75% had earned their first million -- by just their second year in business. What's more, every single company on Entrepreneur's Hot 100 list has added jobs to the U.S. economy since inception, with total projected employment for 2009 to reach over 15,000. Savings and personal funds, lines of credit, friends and family, private investors, and bank loans were the most common sources of funding.

"Amid a volatile economy and growing global competition, entrepreneurial companies continue to demonstrate stellar success," says Karen Axelton, executive editor of Entrepreneur. "The people who built the Hot 100 fast-growth businesses exemplify the innovative thinking, determination and passion that define entrepreneurship and contribute to the nation's collective economic strength."

The Hot 100 companies run the gamut when it comes to industries -- from hanger manufacturing and food sales to energy and defense. The top first, second and third companies, respectively, are Simply Self Storage, a provider of self-storage facilities; BlueStar Energy Services, an electricity supplier; and Bills.com, a provider of online personal financial information.

Entrepreneur compiled the Hot 100 from a database of nearly 21 million businesses with the help of CentrisPoint, a leading provider of economic and business data, research and information. Criteria for each company included factors such as a minimum level of sales growth, positive job growth from 2003 to 2007, and company sales for 2007 of at least $1 million. Only 0.3% of the 21 million businesses considered made the initial cut.

To see the entire list of Hot 100 companies, pick up a copy of the May issue of Entrepreneur on newsstands April 22. For online-exclusive expanded profiles, visit http://www.entrepreneur.com/hot100.

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