‘Utah 100’ application deadline extended
MountainWest Capital Network has extended the application deadline for its 12th Annual Utah 100 Awards until Aug. 11.
The awards honor Utah businesses in three categories: fastest growing, top revenue growth and the emerging elite.
A news release from Mountain West explained that "to be considered in the fastest growing and top revenue growth categories, an entrant must be a Utah-based, for-profit entity that has been in business for at least the last five consecutive years (2001 through 2005) and have had a minimum of $50,000 in total revenues in fiscal 2005. The Emerging Elite category is for Utah companies that have a minimum of two years of operating history and show promise for future success."
It’s free to apply and all businesses meeting the criteria are eligible. Applications are available at http://mwcn.org/utah100/application-pre.php, and the ceremony will be held October 26 at the Grand America Hotel in Salt Lake City.
"It’s designed to give recognition to growing business and recognize that they are growing by some metric, and it’s not earnings, but revenue," said Todd Leishman, Chairman of the Utah 100. "In a world where corporate news has been bad news as of late, we want to highlight entrepreneurial success and achievement."
Several Park City and Summit County businesses have won in the past, including Supplemental Health Care and Backcountry.com last year.
"One of the advantages a Park City business could get might be some more exposure to other Wasatch Front businesses," Leishman said. "We’ll have media there as well as business owners from all the other businesses so it’s great for networking and getting that exposure."
Supplemental Health Care received the award in the fasting growing category, and Vice President of Finance and Administration Steve Ure said that they have reapplied for the 2006 awards because of the boost in networking and the opportunity to "get the business’ name out there for recruiting purposes."
"Most of our business and most of our employees are from outside of Utah and we needed to get some recognition in the state," he said. "We’ve gone from zero to 45 employees here in Park City, which is our corporate headquarters, since May 2000. People like to work for fast growing businesses. We have that award prominently displayed in our foyer and it does establish some legitimacy to the company."
He also said it’s a great chance to network and create a little competition among businesses.
"The guys that run this are venture capital and investment bankers that are always interested in emerging companies," he said. "The awards give them a chance to get to know the up-and-coming businesses, but it also allows all the businesses to get to know each other."
Ure also added that the way the winners are chosen is purely objective. He said the businesses report their numbers to MWCN and then get ranked.
"There is no objectivity involved in these awards," he said. "I don’t know how we’ll rank compared to other companies this year, but I do know that we’re fairly fast growing compared to other companies. In our case, it will be purely based on revenue growth."
Companies selected for the Utah Top 100 will be notified by Sept. 26, and there will be a winners’ banquet the night before the awards. The Utah 100 Awards Program typically attracts more than 1,200 attendees.
"For the past 11 years, we’ve continued to recognize outstanding companies based in Utah," president of MWCN Tom Taylor said in the news release. "It helps us celebrate and honor those in the business community who are responsible for the success we see in our state."
Any questions regarding the program or the application process can be directed to Bradley Bertoch at 801-595-1141, or send by email at firstname.lastname@example.org.
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Tourism revenue increased month over month this summer, the Park City Chamber/Bureau reported, but lodging numbers are still off 22% for December. Officials reported a recent uptick in bookings, though, pointing to a modicum of certainty after ski resorts announced their COVID-related opening policies.