Turnover awards for firms open

Evening Chronicle (Newcastle, England), July 31, 2008

ENTRIES have now opened for the 2008 Deloitte Fast 50 Technology awards.

The awards, now in their 11th year, recognises and ranks technology companies with an exceptional growth in turnover over the last five years.

Last year's Fast 50 saw Newcastle-based digital company, THNK, break new ground for the North East after ranking in fourth position.

As the only digital agency in the UK to make the league's top five, Newcastle-based THNK also claimed the highest spot in the North of England after recording significant growth and doubling turnover in its previous year.

David Wilkinson, partner at Deloitte in Newcastle, said: "The Fast 50 is an ideal way for businesses to showcase their success and we look forward to seeing entries from companies from across the North East in all areas of technology, from internet specialists to life sciences, computers to semiconductors, software to telecommunications."

The launch of the Fast 50 coincides with the Deloitte report 'Tooling Up' which analyses the key operational and financial concerns of last year's entrants to the Fast 50.

A quarter of companies found obtaining finance was their biggest financial concern.

Mr Wilkinson added: "The challenges facing technology companies with the current economic backdrop has led to scarcity of credit and this might dampen appetite for risk.

"In its place a premium may be given to steady, forecastable cash flows that elude most fast-growing technology companies."