Smart50 rank: 9
Revenue: $11.61 million
Growth: 91.22%
Founders: Zac Swindells, 34; Chris Monching, 34
Based: Victoria
Employees: 7
Industry: Telecommunications
Website: www.ispone.com.au

In 2002, Zac Swindells (left in picture) saw a niche for dedicated wholesale telecommunications providers. Founders Swindells and Chris Monching now provide a complete telecommunications platform for service providers to offer rebranded products and services.

Revenue for the Melbourne-based company is $11.6 million, up from $6.7 million in 2006-07. But it has not been an easy ride. The organisation has come close to being shut down four times since inception in the start up phase. Cash flow is the most difficult obstacle. It has also been essential to learn to operate the business with simple practices and not over complicate things, says Swindells.

The telecommunications industry is changing with emerging technologies, rapidly changing regulations and increased competition. But the company is planning to expand the simple business model and systems outside Australian shores to NZ and Asia Pacific region.