Smart Business News: Vemma Named the Fastest-Growing Company in Arizona
When you’re good, you’re good…but it’s even better to be recognized for it, especially in business. Vemma Nutrition stands out in a state known for business growth, Arizona. According to this popular Vemma review, last year this nutritional supplement company was honored with an ACE Award for No. 1 Fastest-Growing Company in the state.
Vemma’s ACE Award
ACE stands for “Arizona Corporate Excellence” and the award is calculated by accounting firm CliftonLarsonAllen LLP. Published every year in the Phoenix Business Journal, ACE awards are a commonly accepted measurement of the corporate state of affairs in Arizona. For twenty years, Arizona’s business community has looked to the ACE awards to tell them who’s on the rise, who’s winning, and who’s doing good works in the community. They represent a coveted list of who’s who in the business world. Other ACE Awards include:
- “Largest Private Companies in Arizona”
- “Rookie of the Year”.
- “Community Impact Innovator of the Year”
- “CEO of the Year”
So, it’s no small feat that Vemma Nutrition made it on to the list, at the number one position. The previous year, Vemma was #10 on the ACE Fastest-Growing Companies list.
Here’s how the list looks:
- Vemma Nutrition Co. growth score: 460
- MT Builders Cos. growth score: 445.25
- GlobalTranz Enterprises Inc. growth score: 439.7
- The StateServ Companies. growth score: 420.6
- Alliance Residential Co. growth score: 415.25
The “growth score” is a formula based on revenue growth over a two-year period. Basically revenue growth is a measure of how well a company is doing with sales. The award therefore tells us that Vemma products are well-received with the public and business is good. Since growth takes into account sales data from past years, it by definition eliminates “flash in the pan” growth spurts that don’t last or are not sustainable over the long term.
Accountants from CiftonLarsonAllen LLP use a formula which takes data from a two-year period. Actual dollar growth is analyzed, as well as percentage growth, and both are combined to arrive at the “growth score” you see on the list above. The highest possible score is 500 points. At 460 points, Vemma makes an impressive showing.
Vemma’s Got Awards
In all, Vemma boasts over 159 awards, including 35 MarCom Awards. MarCom stands for marketing and communication, and they hold an annual international competition. Their trophies can be found in some of the top business firms in the world.
A few other awards Vemma can be proud of:
- The Communicator Awards, honoring marketing efforts which make a lasting impact on the industry
- GD USA awards, which are for creative work in graphic design.
- American Business Awards, also known as “Stevies”, for accomplishments and contributions made by business people or companies. There are hundreds of categories, which might explain how Vemma has been able to win an amazing 20 Stevies.
In addition to the impressive portfolio of awards its earned, Vemma Nutrition is also a member of the Direct Selling Association. This itself is rather like an award- members must apply and meet a rigorous set of standards involving code of conduct, business structure, and terms of sale.