9. The Menkiti Group
9. The Menkiti Group
2010 Revenues: $5 million
5-year Annual Growth Rate: 81%

Bo Menkiti
Location: Washington, DC

About the business:
The Menkiti Group, a residential and commercial real estate developer in northeast Washington, D.C., got its start in 2004 doing basic home revamping and has since evolved into a full-blown commercial developer for urban properties. The company hires locally, and most employees live in the neighborhood. Staffers' backgrounds are quite diverse and hiring is a long, challenging process as most training is done externally. Employees are also able to invest their salaries to earn equity in a single-family home. To sustain growth, says CEO Bo Menkiti, the company will have to raise additional capital.

The Initiative for a Competitive Inner City (ICIC) defines inner cities as core urban areas with higher unemployment and poverty rates and lower median incomes than their surrounding metropolitan statistical areas. For the 2012 list, ICIC received more than 2,000 solicited nominations using its database of small businesses and through the support of its nominating partners, including the U.S. Hispanic Chamber of Commerce, Staples, New York City Department of Small Business Services, and the U.S. Conference of Mayors. Companies were ranked by compound annual growth rate (CAGR) based on their revenue over the five-year period between 2006 and 2010, the last year for which complete data was available. This list was audited by the independent accounting firm of Rucci Bardaro and Barrett, PC.
@FortuneMagazine - Last updated May 11 2012: 10:59 AM ET
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