Icelandic Business Resilience Shown Through Award Program
Iceland's Outstanding Companies award program reveals business resilience sixteen years after the financial crisis. Only 2% of Icelandic companies meet the demanding criteria each year. The consistent qualification rate shows strength despite economic challenges.
The Outstanding Companies project by Creditinfo has transformed from a simple recognition program into a key measure of Icelandic business stability. This program now tracks company durability and sustainability across Iceland's economy.
Creditinfo Iceland CEO Hrefna Aspar Sigfinnsdóttir said the award's history reflects Iceland's business recovery after the 2008 financial crisis. She noted they began recognizing companies for excellent performance shortly after the economic collapse.
This year marks the sixteenth edition of the awards. The 2025 list is currently being finalized. While exact numbers aren't confirmed, Hrefna expects it won't be shorter than last year's list of 1,150 companies.
Why do so few companies make the list each year? The requirements are demanding. Only about 2% of active Icelandic companies typically qualify for the recognition.
Many Icelandic firms have demonstrated remarkable strength over the years. The consistent qualification rate shows these businesses maintain balance despite economic challenges and fluctuations.
This steady performance highlights how Icelandic companies have adapted to difficult conditions. The award program essentially tracks the business sector's revival since the banking crisis.
The recognition focuses on achievement rather than just survival. It spotlights top performers in Iceland's business community who excel despite economic pressures.