Entry Criteria 2021

Online nominations for the 2020 CRN Fast50 will be accepted until Friday 8 October 2021. Companies will be contacted in end of October.

Companies that do not produce supporting documentation, verifying substantiation of claimed FY2020 and FY2021 net sales by 13th October will be removed from consideration of the list.

Please note that CRN reserves the right to extend the closing date as required. In such case the new date will be publicly announced.

The ranking will be done solely on the basis of the percentage growth of the net sales revenue from financial years 2019-20 (FY2020) and financial year 2020-2021 (FY2021). We will calculate the percentage growth rate for this period. Refer to Q17 to see how percentage growth is calculated.

Your company must meet each of the following four criteria;

• Be an IT solution provider that sells, resells, recommends, designs or implements IT products and/or services to business end users. More than 50 percent of revenue in the financial year ending in June 2021 must come from selling, reselling, recommending, designing or implementing of IT products and/or services (but excluding internet connections) to business end users.
• Have net sales revenue of at least $1,5 million (excluding GST) in financial year 2020-2021;
• Have net sales revenue of at least $1 million (excluding GST) in financial year 2019-2020, as per the rules of the 2020 CRN Fast50;
• Be headquartered in Australia (if you have offices overseas, only revenue of the Australian business will be considered);
• Be established and have traded before 1 July, 2019;

Vendors and distributors are NOT eligible for the list.

When you apply for the CRN Fast50, you must submit:

Please email all supporting documentation to fast50@crn.com.au with words "CRN Fast50" clearly included in email subject line
Supporting documentation must be provided within one week of the online submission deadline; otherwise submission will be removed from consideration of the list.

1. Either:
   a) A statement/letter from an external certified accountant/auditor confirming the total sales revenue (excluding GST) for 2019/2020 and 2020/2021 as well as company ABN/ACN. 
   OR
   b) ASX or ASIC filings. (Large companies, as defined by ASIC, with more than $25 million of FY2020 revenue and/or more than 50 staff may be required to submit ASIC financial reports or provide an explanation why the company is not required to submit annual report to ASIC.)
   
   AND
2. A signed Directors Declaration, signed by the company director on company letterhead confirming the sales figures – download the template here

No. The ranking will be based solely on revenue growth, not the degree of profitability.

No. The ranking is done solely on the revenue growth.

As long as your company is independent and meets the other criteria listed above, it does not matter how it is structured.

Then you are not eligible for the list unless your company was acquired after 30 June, 2019, in which case the parent company should enter, or see Q10 below for details on entering as a subsidiary.

You are eligible to enter. We will ask you to provide details on any M&A and the impact it had on your company's revenue growth. We reserve the right to request further documentation to confirm the M&A has been fully completed within the appropriate period. Your entry may be ineligible if the revenue attained from acquisition/s was larger than the existing company's total prior year revenue.

Then you are still eligible for the list, but please make sure that your net sales revenue figures reflect only the net sales revenue of your division, not the entire company. In this case, you must supply sales revenue documentation from an independent accountant; internal sales figures are not acceptable.

Then you are not eligible for this year’s list, although you may be eligible for future lists. Your company must have been trading from 1 July, 2019, so that we have a full year’s worth of sales revenue for FY2020 to use as the base for calculating revenue growth rates. Partial-year revenues are not acceptable.

Your company is not eligible for the list. This minimum level of sales will strictly be adhered to.

If you are a private, unlisted company, ASIC may define your company as a "Large Company" (click here for definition), in which case you may be asked to submit an ASIC financial report.

Please fill out the application with your new name and include in parentheses after the name “(was OLD NAME)”.

Then you must adjust your company’s sales data accordingly so that the data you report to us does coincide with the financial year. This enables us to compare all respondents using the same time period.

Adjust your net sales revenue figures to reflect periods for FY2020 and FY2021 in order to fill out the application. When you submit supporting documentation, it must include all relevant periods.

No. Before filling out the application, you must convert your net sales revenue figures to an accrual basis. To convert cash to accrual, start with cash receipts, subtract the beginning accounts receivable, and add ending accounts receivable.

We will publish a list of the Fast50 winners later in the year on CRN website www.crn.com.au. 

The list of the fastest-growing companies will be published in order of rank and the results will include any or all data submitted in the online entry, including revenue figures provided.

We divide FY2021 net sales revenue by FY2020 net sales revenue, subtract 1 and multiply the result by 100.

For example, say FY2021 net sales revenue totalled $10 million and FY2020 net sales revenue totaled $5 million.

$10,000,000/$5,000,000=2
2-1=1
1x100=100
Growth is 100%.

Every year we poll our entrants and they are overwhelmingly positive about entering the CRN Fast50. None have reported a negative experience with being published in the CRN Fast50.

In fact, past entrants often tell us about many benefits that appearing in the Fast50 had in terms of raising their profile among other resellers, vendors and distributors. 

Please contact Malin Lyckang.

Simply visit https://ww.crn.com.au/fast50  to start your submission.