Established in March 2012, the company has grown from three to 40 employees. Turnover grew 57 per cent to top $6 million at the end of the 2013/2014 financial year.

BRW editor Michael Bailey said the growth was impressive. "You can't be doing `business as usual' to make it onto our list," he said.

This was particularly true of Callida which specialises in providing high quality financial, management and IT advice to a wide range of public sector departments and agencies.

"Most companies that have grown quickly are doing something different; they are disrupters," Mr Bailey said.

"Callida is not quite in that mould. They have achieved growth in an area that is already serviced by a large number of participants."

Paul Smith, one of the two partners, has worked on high profile projects for the Department of Human Services, Defence Materiel Organisation and the Royal Australian Mint to name a few, said some of the key staff had come out of a firm called Acumen Alliance who had decided to go it alone several years after the original company was sold.

"Yes, this is a competitive sector," he said. "You have all the big players in town along with a swag of 10-person firms and individual contractors. Our intention was to offer an alternative to the big consultancies along with longevity and the development of relationships."

Launching at a time when the public sector had been on the cusp of one of the larger episodes of downsizing in recent times had not necessarily been a disadvantage.

"We are helping clients to do things better; to save money and increase efficiency through better IT and better financial practices."

He said consultants had to deliver measurable results to achieve repeat business.

"We are always measured by the outcomes we have achieved."

From day one Callida has set itself high growth targets.

"Our recent growth is pretty much what we were aiming for," he said. "We are looking for 50 per cent growth on where we are now by this time next year."

BRW's Fast Starters list was topped by Pepperstone, a Victorian financial and insurance services company, which grew 66 per cent in 2013/2014 with a $60.2 million turnover.