The third annual TIME100 Most Influential Companies list was revealed by TIME, spotlighting an array of businesses and leaders shaping our collective future. With 42% of the listed companies employing fewer than 500 people, the announcement underscores the power and potential of small businesses in a global context.

The list features companies from various sectors, from artificial intelligence and sustainability to fashion and entertainment. Of particular interest to small businesses are the companies in these sectors that operate with fewer than 1,000 employees. Their presence on the TIME100 list offers an inspiring model for small and medium-sized businesses aiming to make a significant impact.

Highlighted on the TIME100 list are AI companies including OpenAI, Nvidia, Google DeepMind, Hugging Face, Metaphysic, and Runway. Sustainability-focused companies such as M-Kopa, Schneider Electric, Aclima, Albemarle, Land O’Lakes, Kayrros, Patagonia, The North Face, ZeroAvia, and Regrow Ag also found their place on the list.

TIME’s CEO Jessica Sibley emphasizes, “The annual TIME100 Companies list demonstrates that businesses can be an agent for change. From artificial intelligence to fashion, this list spotlights the innovative companies and visionary leaders that are shaping the world.”

TIME’s Editor-in-Chief Sam Jacobs adds, “Since we began this effort, we’ve seen how quickly the role business plays in our lives can change… Company leaders were thinking in new ways about what they owed their employees, society, and the planet… businesses don’t just change the world but the people who work at them.”

Small business owners should take note of the diversity in sectors represented on the list. This reflects the opportunity for significant influence regardless of industry. From health companies like Novo Nordisk, Cost Plus Drugs, Virta Health, Maven Clinic, and Honeybee Health to entertainment giants like TikTok, Disney, and Live Nation Entertainment, the list underscores the expansive potential of innovative business models and ideas.

Another notable aspect of the list is the prevalence of fashion and retail companies. With representation from The North Face, Crocs, Meesho, thredUP, Skims, LVMH, and Ganni, it is clear that innovative and sustainable practices are increasingly valued in this sector.

The 2023 TIME100 Most Influential Companies list serves as a testament to the reach and impact of companies both big and small. For small business owners, it’s a source of inspiration and a call to continue innovating and challenging the status quo in their respective sectors. As the world evolves, so too does the opportunity for businesses of all sizes to make their mark.

Image: TIME

This article, “TIME Reveals 2023 List of the 100 Most Influential Companies” was first published on Small Business Trends