Fenton Winery & Brewery (FWB) in Fenton Township is being recognized as one of the 2020 awardees for the Michigan 50 Companies to Watch award, presented by Michigan Celebrates Small Business. FWB will be honored at an awards ceremony during the 16th annual Michigan Celebrates Small Business virtual gala event, on Tuesday July 28 at 6pm.
“The FWB journey includes moments of triumph and challenges and our amazing team gets it and does what it takes, says FWB Owner Ginny Sherrow in a press statement. “This award celebrates all those who are a part of our story, making FWB what it is today and what it will be in the future. Cheers!”
This year’s Michigan 50 Companies to Watch has made a substantial economic impact, totaling $365 million in total annual revenue for 2019. From 2016 through 2019, these companies generated $1 billion in revenue and added 723 employees (both in Michigan and out of state), reflecting a 101.9% increase in revenue and 93.8% increase in jobs for the four-year period. That translates into a 26.9% annual revenue growth and 24.8% annual growth in employees.
“Michigan’s small businesses are the lifeblood of our local economies and play a vital role in making our communities attractive places to live, work, visit and play,” says Josh Hundt, Chief Business Development Officer for the Michigan Economic Development Corporation. “As the state continues to recover from the COVID-19 outbreak, we are honored to recognize and celebrate these small businesses, which demonstrate the resilience, innovation and grit that sets Michigan apart.”
Companies nominated for the Michigan 50 Companies to Watch award must be second-stage companies, defined as having six to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue. Additionally, the companies must be privately held and headquartered in Michigan.
Judges from economic and entrepreneurship development organizations selected the 2020 winners. The judges evaluated the nominees’ demonstration of intent and capacity to grow based on employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage and other notable factors that showcase the company’s success.
Michigan Celebrates received 575 nominations for the Michigan 50 Companies to Watch award, which surpassed last year’s record of 425 nominations. In addition to a competitive landscape for this award, the businesses who are selected by the judges go through a rigorous due diligence process prior to the final decision.
