by Pamela Scott Crace

They’re an optimstic bunch, those on the fast track. Surveyed late last year about their outlooks for profits, hiring, and continued revenue growth, they answered overwhelmingly with happy faces.

Check. Check. And check.

Reviewing the data from the surveys, one might be inclined to say, what recession? Indeed, the revenue figures used in our growth calculations are for reporting periods that encompass 2007, 2008, and 2009. Considering these organizations grew at least 25% during a string of pretty volatile years for financial markets, it’s worth hearing what they’ve got to say.

Lucky for us, we gather the Fastest Growing Companies every April with sponsors and friends in Moncton for some sharing, caring, and derring do. We talk about the usual stuff like growth, talent, change, and capital. But also candid stuff like what keeps them up at night and what they fear. (Among the best answers? “Nothing” and “Retirement.”)

If you missed the Moncton round tables, here are the survey highlights that framed our discussions. Fast-growing companies rank their major challenges in this order: finding and retaining skilled workers and management talent; securing financing at a reasonable cost; managing cash flow; sustaining innovation; and maintaining customer service when things get hairy.

Sound familiar? Well, yeah. The “people” issue (finding and retaining talent) has been cited by companies as a major anxiety-inducer ever since we started doing the Fastest Growing survey, but it’s been the No. 1 challenge for the past three years in a row. If you haven’t given major attention to your succession plans at every level, you’re not with the program. It’s no coincidence that APEC recently said that investing in new technology and human capital are Atlantic Canada’s most urgent priorities—“Our defining challenge,” says Elizabeth Beale.

Here are a few other interesting facts from the research. This year, more than four-fifths of the Fastest Growing Companies were profitable; last year it was only two-thirds. Three-quarters of the companies indicated that they invest in R&D; last year it was 57%. For the top ten, 70% cited market growth and strategy as the key factor accounting for their recent growth. This year’s companies by and large are tapping international markets with niche products and using customized sales and service regimes.

And that’s the crux. Having a great idea is one thing. Scaling up and rolling it out to serve demanding customers all over the world is what separates the winners from losers. To do this well, you need the right people. For a peek at what it takes, click through to the Fastest Growing feature page.