3 N.J. companies land on 50 Fastest Growing Women-Owned Businesses list

Three New Jersey-based companies have been named to the 50 Fastest Growing Women-Owned/Led Businesses list by the Women Presidents’ Organization in collaboration with American Express.

The companies on this years’ list span industries including heath care, technology and consulting. In 2019, the 50 Fastest generated a combined $3.8 billion in revenue and employed more than 17,000.

Here are the companies from New Jersey on the list and their rankings:

8. Solvix Solutions, Marlton, led by Stacey Rock and provides technology hardware solutions;
11. Artech, Morristown, led by Ranjini Poddar and is an IT staffing company;
34. The Lotus Group, Pine Brook, led by Lei Wang and is a pharmaceutical recruiting firm.

“The 50 Fastest Growing Women-Owned/Led Companies are a trailblazing group of women who are leading some of the most successful businesses around the globe. At American Express, we are committed to supporting and backing the growth of women-owned and -led companies and are delighted to recognize these leaders for their success,” Jessica Ling, vice president and general manager, marketing strategy, content and experiences at American Express, said. “Not only do women-owned businesses fuel the economy with trillions of dollars in revenue and the millions of jobs they provide, many have also pivoted their offerings and business strategies to provide essential services and accommodate their employees, which has proven to be vital for navigating the pandemic.”

Each eligible company was ranked by a sales growth formula that combined percentage and absolute growth. To qualify, a business must of been privately-held, woman-owned or -led, and have annual revenues of at least $500,000 as of 2015 and every year after.

More on this year’s 50 Fastest:

• Average honoree age: 50;
• Provide health insurance: 94%;
• Started with their own funds: 74%;
• Do business globally: 56%;
• Do business with the government: 68%.

Here are the Top 10:

1. Tierra Kavanaugh Wayne, TKT & Associates Inc., Louisville, Kentucky;
2. Mary Hensley & Julie Hashagen, Enspire Energy, Chesapeake, Virginia;
3. Asma Ishaq, Modere, Springville, Utah;
4. Amrita Grewal, TalEx, Washington D.C.;
5. Christine Meyer, Battaglia Associates Inc., New Castle, Delaware;
6. Brooke Castillo, The Life Coach School, Allen, Texas;
7. Jenelle Coy, Spero, Washington, D.C.;
8. Stacey Rock, Solvix Solutions LLC, Marlton, New Jersey;
9. Phyllis Newhouse, Xtreme Solutions Inc., Atlanta, Georgia;
10. Patricia Bible, KaTom Restaurant Supply Inc, Kodak, Tennessee.

To see the full rankings and methodology, click here.