9. Safe Work Laboratories

Revenue: $5.93 million
Growth: 423.31%
Founders: Mal Beacham, 49, and Belinda Carlisle
Head office: Perth
Year founded: 2012
Employees: 70
Industry: Occupational health and safety
Website: safeworklaboratories.com.au

Safe Work Laboratories provides laboratory testing services for businesses with the aim of maintaining healthy workplaces.

In just three years the company has managed to pull in revenue of close to $6 million, providing jobs to around 70 people in the process.

Co-founder Mal Beacham told SmartCompany prior to the start of his business, there was no privately held toxicology lab in Australia and testing results generally took around four to five days.

“Safe Work Laboratories provides results within 24 hours of the sample arriving into one of our labs,” Beacham says.

“This means the employer is able to make a quick, informed and accurate decision about the suitability of the employee’s fitness for work.

“This results in reduced stress for the employee, improved productivity for the business and most importantly a safer working environment for all the staff working with that company.”

Safe Work Laboratories now has five labs across the country and is evaluating whether or not to launch in south-east Asia.

Beacham says despite the business’s success, cash flow remains his number one concern.

“All of our staff rely on a regular income from Safe Work Laboratories to provide for their families and many live week-to-week,” he says.

“This fact weighs heavily on the shoulders of the directors. The success of the business is critical, not only to those who have invested financially, but also to those who are employed by us.

“Many of our senior staff took a leap of faith when they joined the team and the thought of letting them down can contribute to a sleepless night.”