The second-fastest-growing company in the country - MedRecruit - is based in Queenstown and the eighth-placed - TracMap - is based in Mosgiel.
Three of the country's fastest-growing companies are based in Otago with a Touch of Spice (Queenstown) ranking 15th and Cook Brothers Construction (Dunedin) at 45.
"It's been an outstanding year for Otago businesses. All are great stories," Deloitte Dunedin partner Mike Horne told the Otago Daily Times.
"The people behind these companies should be extremely proud of what they have achieved in turning in such exceptional performances."
From a local perspective, it had been the most successful Fast 50, he said.
While the companies were from a range of industries, the people running them all had real passion, market focus and a desire to succeed no matter what the barriers.
The push for success had been a key ingredient to growing through the recent economic turmoil, Mr Horne said.
"Rather than believing in `build it and they will come', all these companies believed that in tough times they needed to establish their market and tell their story."
The New Zealand Honey Company was established in 2005 and was New Zealand's single largest producer of specialty honeys.
The key focus had been around the uniqueness of the product and the nutriceutical advantages offered by many of New Zealand's mono-flora honeys, he said.
Those advantages provided the company with the ability to create a high-end brand and product story that was different from the bulk commodity honeys.
The company was now selling through 500 supermarkets in the United Kingdom as well as through health stores, such as Hollands and Barretts.
Also, the company had expanded into Hong Kong and China, with the United States and Malaysian markets showing "significant" potential, Mr Horne said.
An earlier report in the Otago Daily Times highlighted the special attributes of southern honey when the arrival of the bee-killing varroa mite threatened to drive honey producers out of business.
Rather than sit and wait and be driven out of business, a group of South Island beekeepers changed their model, differentiating and branding their honey to take advantage of New Zealand's enviable reputation as a producer of safe, quality food and the health benefits of honey.
Five years of research by Prof Peter Molan, from the department of biological science at Waikato University, who discovered the antibiotic attributes of manuka honey, found South Island honey had exceptionally high levels of antioxidants.
A co-operative marketing company, New Zealand Honey Specialties, was formed, along with its brand, New Zealand Honey Company.
Mr Horne said the company's revenue had grown nearly tenfold between 2007 and 2009.
As well as being ranked New Zealand's fastest growing business, New Zealand Honey Company also collected other awards including New Zealand's fastest growing exporter and New Zealand's fastest growing retail or consumer products business.
Fast 50 companies did not appear to have done anything outrageous to ward off the recession, he said.
"In fact, they have done quite the opposite and retained a relentless focus on business basics. Fast 50 companies belt their way through difficult economic times by making sure they have the fundamental elements of their business in place."
To make the Fast 50 this year, companies needed revenue growth of 145% or higher between 2007 and 2009, slightly below last year's threshold of 149%.
Companies that reached the top 10 had to achieve higher revenue growth in the period than those that appeared on the list last year.
The Fast 50 companies grew the New Zealand economy by $426 million collectively between 2007 and 2009 and created 784 jobs.
Deloitte Fast 50
- Open to New Zealand-registered businesses operating for at least three years.
- Needed minimum revenue of $250,000 in first year and minimum $500,000 in third year.
New Zealand overall winner
New Zealand Honey Company, of Dunedin. Established in 2005 and is New Zealand's single largest producer of specialty honeys.
Second
MedRecruit, of Queenstown. Started in 2006 when Sam Hazledine managed to combine his medical training with entrepreneurial flair to create a medical recruitment agency. The business focuses on locum and permanent replacement that balances medical skills with other whole-of-life choices.
Eighth
TracMap, of Mosgiel, provides a complete agricultural and horticultural GPS guidance and proof of placement mapping package for vehicles operating in demanding outdoor environments.
15th
Touch of Spice, of Queenstown, exclusively markets and manages a collection of bespoke private villas, retreats and luxury homes in some of New Zealand's most sought-after destinations. It has been a big year with Conde Nast Traveller ranking Touch of Spice in the top 50 world recommended villa agents.
45th
Cook Brothers Construction. The company was established in Dunedin in 2005 and has been aggressive in seeking to grow the business. Key achievements in the last two years were the establishment of a structural steel division and the opening of a branch in the Bay of Plenty.
