Vermont businesses recognized among fastest-growing in nation
BURLINGTON, Vt. (WCAX) - Each year, 5,000 businesses are named to the Inc. magazine list recognizing the fastest-growing private businesses in the country.
Michael Ly came to Vermont from Arizona back in 2011 working as a financial consultant for small businesses in the Green Mountain State. That was until 2016 when he made the leap to start his own business. It’s called Reconciled, an online book-keeping firm based in Burlington aimed at helping small businesses navigate the world of accounting.
“I moved to Vermont and I kind of was not a known commodity and was new to the community. It was about connecting with people and asking them for advice and trying to get as much free help as possible,” said Ly.
A second business owner, Alex Tuck, launched Tuck Consulting Group out of his home office in Underhill.
“When we focused on a single goal, to help small businesses with project management, when we really stayed super narrow that way we were able to accelerate quickly from a sales perspective,” said Tuck.
For both Ly and Tuck, their growth over the last three years has landed them on the Inc 5000 list. The list recognizes the fastest-growing private businesses in the country based on revenue. Reconciled and Tuck Consulting Group are among 10 businesses from Vermont to be recognized, but that’s not the only thing they have in common. While each was born in the United States, their parents came here as refugees in the late 1970s during the Cambodian genocide. Both say it was that experience that shaped them into who they are today.
“The struggle that my mom went through to come, that grit that comes from that side of my family, that’s why I’m an entrepreneur. I love the story that they told and the hard work and dedication, that’s really what did it for me,” said Tuck.
“I got to watch both my parents come with nothing and start businesses out of very little resources and very little help -- and very little English or any resources that were helpful. That contributed to me and all my siblings becoming entrepreneurs,” said Ly.
Ly and Tuck say while they expand their reach here in Vermont and throughout the country, it’s important to take advantage of available state resources and never to give up.
“Just really try to focus on what service are you providing and who are you providing it to. If you get that right and then keep testing and changing, you’re going to be successful with growth,” said Tuck.
“Just get started, start doing something... And don’t let anybody give you that permission or stop you from pursuing your dreams,” said Ly.
In all, this year’s Inc. 5000 Companies have added 1,187,266 jobs to the economy over the past three years.
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