Family Business Awards
Family businesses in England and Wales are being invited to enter the Coutts Prize for Family Business for the chance to increase their profile and receive expert feedback on their firm’s performance.
The prize is open to firms over which a family has significant influence and which can show how family values influence their company culture.
Entrants will also have to demonstrate high standards of corporate governance, consistent financial growth and a track record of charitable giving.
Nine regional award winners will also be offered a one-day education programme put together by the Cranfield School of Management. Coutts head of family business Mark Evans said:
“Family businesses contribute a lot to the economy but often aren’t recognised for that contribution. If you are proud of being part of a family business, these awards recognise the contribution you have made as a family as well as a company.”
“There is relatively little advice focused on family businesses. So there is also an opportunity to get feedback from the evaluation committee on areas that need strengthening.”
Potential award–winners must have a minimum annual turnover of £1 million and can enter one of three categories: small businesses (£1–5m); medium (£5–25m) and large (£25m plus).
Entrants will be further divided into three regions: northern England and the Midlands; London and Greater London; and southern England and Wales. To enter, business must contact Coutts by 31 October to request a nomination pack.
Selected businesses will then be interviewed by market research firm Ipsos MORI, who will compile a report for an evaluation committee of family business–owners, academics and business advisers. Regional winners will be selected in March 2009 and national winners in June. Senior family business adviser Coutts Juliette Johnson said:
“Increasing numbers of family businesses are recognising that their ‘familyness’ can be used as a competitive advantage, especially in today’s tough economic environment. The Coutts Prize for Family Business is a unique award for family firms to benchmark their performance.”
For a nomination pack, email Robert.Jacob@coutts.com or call 0207 649 4046
For more information about the prize, visit the Coutts website