Polaris Direct was recognized by Entrepreneur Magazine as one of the fastest-growing women-owned companies in the nation. Entrepreneur Magazine and the Women Presidents' Organization (WPO) teamed up for the magazine's November 2008 issue and recognized the top 50 fastest-growing women-led companies. This is the second year that the two firms have celebrated the success of women-led businesses.
Polaris Direct, a direct mailing company in Hooksett, ranked number 6. Co-founders Judith Maloy and Suzanne Lampognana accepted the award at a reception in New York City on December 4th.
To be considered, contestants had to meet a list of criteria determined by the magazine. The business must be a privately-held, women-led company in the U.S. or Canada. Company sales for 2003 had to be $100,000 or greater and sales for 2007 had to be at least $1 million. Once this information was compiled, the companies were ranked according to a sales growth formula, which combines percentage and absolute growth.
Suzanne Lampognana, co-director, said, "We're proud to reach our five-year anniversary as a company. This award highlights our extraordinary year. In 2003, the first year of business for Polaris Direct, company sales were $2.1 million. By 2007, sales had reached $43.9 million.
Co-director Judith Maloy added, The contenders for the top 50 award certainly represent an impressive group of successful businesses. We are thrilled to be ranked so highly among them.