Family Business

Sponsored by Scrutton Bland

The judges will be looking for an established family business which can demonstrate all-round excellence, drive, ingenuity, professionalism and resilience.

Finalists can come from any part of the region but must be family owned, which can include first generation family businesses. The judges will be looking for the following:

Financial distinction – Entrants will need to evidence their turnover and profitability, and highlight any particular areas where they have seen significant improvement. Copies of the current balance sheet and profit and loss statements for the past two years are required.

Employee development – Does the business offer training for the next generation of business owners? How are other members of staff trained and what opportunities are there for promotion? Is there a system for measuring and rewarding success?

Response to change – Have family members brought in new ways of working or innovations which have improved the bottom line, such as new technologies, product development and exploration of different markets?

Involvement in the local community – Finalists will be expected to demonstrate how their business reflects their family’s values, and include examples of the difference they have made.

Strategic leadership – Entrants must be able to show how they have created an organisation with a clear vision for the future with which all family members are in agreement. This may include a charter or constitution covering succession, the relationship between family and other shareholders, and the resolution of family conflict.