I'm sure that many readers have aspirations to become a millionaire one day.
Well, the good news is that you and I can achieve this with the share market. In fact, there are a number of shares that have made regular investors millionaires over the last decade or two.
My favourite example is design software company Altium Limited (ASX: ALU). Over the last 10 years its shares have generated an average total return of 64.7% per annum.
This means that a single $7,000 investment in Altium's shares in 2010 would now be worth over $1 million.
While it is worth remembering that very few shares will be as successful as Altium, that doesn't mean there won't be any.
I believe there are some small cap shares which have the potential to grow materially over the next decade. Whether they are the next Altium, only time will tell, but I think they are well worth considering with a long term view. They are as follows:
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Electro Optic Systems (ASX: EOS)
Electro Optic Systems is Australia's largest aerospace company and the largest defence exporter in the Southern Hemisphere. It has established partnerships with major global aerospace giants and a massive backlog of work that should support earnings growth over the next few years. Arguably the key product in its arsenal is its Remote Weapon System which allows the military to remotely operate weapons and machinery.
Bigtincan Holdings Ltd (ASX: BTH)
Bigtincan is a software company that uses artificial intelligence techniques to help companies boost their sales numbers through end-to-end process enhancements. Pleasingly, demand for its platform continues to grow even during the pandemic. It recently reaffirmed its full-year guidance of 30% to 40% organic revenue growth.
Nearmap Ltd (ASX: NEA)
Nearmap is a leading aerial imagery technology and location data company. I believe its shares could generate very strong returns for investors over the next decade. This is due to its high quality technology, the cost savings it offers users, and its significant and growing global market opportunity.
