8. Cloud Plus

Revenue: $4.47 million
Growth: 430.11%
Founders: Jules Rumsey, 42
Head office: Brisbane
Year founded: 2010
Employees: 14
Industry: Information and communication technology
Website: cloudplus.com

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Cloud Plus was founded just five years ago but is already turning over more than $4 million.

Despite this success, Rumsey says securing access to capital is still his biggest challenge – a concern shared by many business owners who pour their time and money into starting a business.

“Keep your focus and don’t overstretch yourself,” Rumsey says.

“Always keep a wary eye on your cash flow as it will make or break your business. Employ great people and bet heavy when you know you’re right.”

Rumsey says the ICT industry is becoming more dynamic as time goes on, and he hopes to build on his existing successes in order to grow Cloud Plus’s revenue to $50 million by 2020.

“We are actively expanding our team and doubling-down on our infrastructure investments to ensure that we’re equipped to handle the next stage of growth,” he says.

“We’re also lining up some strong marketing initiatives that will help to drive the organic growth that we’re looking for. And we’re considering a number of potential acquisition targets to enhance our growth.”

Despite these lofty goals, Rumsey says he has the energy to push through because he has gotten through the most challenging part.

“The early stages of a startup business are typically the most challenging,” he says.

“In the case of Cloud Plus, I was investing a lot of money personally, I had very limited resources and was wearing a lot of different hats and there was very previous little time for sleep.”

“However, I learned to dig deep and that if you work hard there are always people out there willing to support you.”