Introducing First 5000

| October 28, 2010
First 5000 forum

First 5000 forumWhat is First 5000?

Australia is suffering from a clear case of middle-business syndrome. A highly-profitable but largely disconnected segment of the economic landscape exists without a united voice, or space to engage with one another.

That’s why Global Access Partners (the organisation behind Open Forum) have created First 5000.

First 5000 is an invitation only virtual business alliance that connects the executives of Australia’s leading medium enterprises. Members represent the nation’s top 5000 mid-size companies.

First 5000 was formally launched on Wednesday, 20 October 2010, 10:00am-12:00pm, at the Strangers’ Dining Room of the NSW Parliament House before a select audience of First 5000 partners, members and journalists.  Mr Barry Buffier, Deputy Director General, Industry & Investment NSW, State & Regional Development and Tourism, gave a keynote address.

Who are the First 5000?

Companies which employ between 20-199 people and report an annual turnover of $10 million or more are invited to take up free First 5000 membership.

First 5000 members make up a small, but highly profitable slice of the total SME category. Of the more than 2 million SMEs in Australia, just over 5000 companies fit the profile.

First 5000 members are:

  • Entrepreneurs: as a group, these companies boast average annual growth rates of 15% and over
  • Stable and well-established: on average, this group has been in operation for 6-10 years or more
  • Innovators: they are more likely than average SMEs to invest in research and development
  • Export leaders: they are more likely than average SMEs to trade internationally.

Why the First 5000?

There are 2 million businesses registered in Australia. Medium-size enterprises account for just 4 per cent of all actively trading businesses and yet contribute roughly one quarter of GDP. Within this group, only around 6, 500 companies turnover more than $10 million per annum; these are the companies eligible for First 5000 membership. Because this is such a significant part of the economy, we should strive to capture the power and weight of the group” (Peter Fritz)

Whether you are one of the First 5000, a smaller SME aspiring to be one of the First 5000, a policy-maker who wants to hear their insights or just want to find out more about this group which truly are the productive powerhouses of our economy, then follow the links below.

If you have any questions about joining the First 5000 network, please contact editor@first5000.com.au

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