*By % of the 324 respondents who said they'd be taking funding of any kind
| Finding the Money |
| Top three sources of funds CEOs plan to tap this year* |
| Bank borrowing |
85% |
| Public offering |
17% |
| Private placement |
15% |
| Spending the Money |
| % of companies with a direct-sales force |
76% |
| Average % of overall sales spent on sales and marketing |
12% |
*Numbers do not add up to 100 because of rounding.
| Managing the Growth |
| Age of company when it brought in outside managers* |
| 6 months or less |
8% |
| 7 months to 1 year |
7% |
| 13 months to 2 years |
16% |
| 25 months to 5 years |
40% |
| More than 5 years |
28% |
Going Overseas
181 companies reported overseas sales in 1996
In 1996, the average percentage of sales from overseas was 12
| Leveraging Technology |
| % of companies-- |
| Using the Internet |
97% |
| With intranet sites |
37% |
| With home pages |
74% |
*Out of 435 respondents
| Benefits for All Full-Time Employees |
| % of companies* offering the following in-- |
|
1992 |
1996 |
| Bonuses |
54% |
85% |
| Disability insurance |
26% |
60% |
| ESOP |
9% |
28% |
| Flextime |
37% |
52% |
| 401(k) plan |
14% |
77% |
| Health insurance |
67% |
97% |
| Life insurance |
34% |
67% |
| Profit sharing |
15% |
43% |
| Sabbatical |
3% |
9% |
| Stock options |
9% |
26% |
| Telecommuting |
11% |
29% |
THE LOCATIONS
The Winners. In 1997 Batman returned to the big screen, and Gotham loomed large on our Inc. 500 radar screen, too. New York City scored big, with 12 companies calling it home--edging out Dallas and Atlanta for the city with the most Inc. 500 companies.
In the state race, New York State nearly doubled its number from last year, returning the Empire State to its glory days of 1993, the last time it landed 25 companies on the list. Virginia (up by 9) and Pennsylvania (up by 8) also recaptured their positions of 1993. Maryland, meanwhile, gained 5 spots in a year's time. California, the usual single-state leader, made an impressive showing this year. With a total of 94 companies, California gained 12 spots over last year but has yet to surpass its previous high of 101 companies, achieved back in 1985. San Francisco, Irvine, and San Jose each kicked in 7 companies, and San Diego, 6.
The Inc. 500 is often clustered around a dozen or so states, and this year that cluster is superconcentrated: the top 15 states--the five states already mentioned, plus Texas, Florida, Massachusetts, Illinois, New Jersey, Georgia, Arizona, Washington, Ohio, and Colorado--accounted for 78% of the total.
The Losers. Seven states remained at entrepreneurial ground zero, their zero-company status unchanged from last year. They are Alaska, Arkansas, Hawaii, Montana, North Dakota, West Virginia, and Wyoming. But the biggest "losers" overall were previous gainers Ohio and Florida, which lost 10 and 6, respectively, compared with last year. North Carolina went down 6. Massachusetts lost 5, while Georgia, Washington, and Wisconsin lost 4 apiece.
And a Surprise. Maine, often a desert in the Inc. 500 landscape, ended its recent two-year dry spell by spawning two companies in 1997. Who knows, maybe modest Maine will be the big winner five years from now. --Susan Greco
Almanac edited by Susan Greco; statistical research compiled by Elyse M. Friedman.
