Baylor to Honor Family Owned Firms in Annual ContestJuly 2, 1997
by Alan Hunt
WACO, Texas - Members of the public are urged to nominate their favorite family owned firms for the eighth annual Outstanding Family Business Awards competition sponsored by Baylor University's Institute for Family Business.
The deadline for nominations is Aug. 1. In addition to independent nominations, family business owners can also nominate their companies for the contest.
Each year, the institute recognizes those family firms which demonstrate strong business and family values. Awards are given in three categories - large firms, with more than 250 employees; medium-sized firms, with 51-250 employees; and small firms, with 50 or fewer employees. Outstanding firms are also honored in the special award categories of Family Values, Community Commitment, Fastest-Growing Family Business, Well-Managed Family Business and the Founders Award, which goes to the family business that has grown and adapted to present and future markets while maintaining the identity and original concepts of the founders.
More than 200 "mom and pop" businesses were nominated for the contest last year. The nine Texas firms honored in the 1996 competition included Cloud Construction Co., Temple; Berend Bros. of Wichita Falls; Darr Equipment Co., Dallas; McCoy's Building Supply Centers, San Marcos; Collin Street Bakery, Corsicana; Oliver Sales, Dallas; Dyer's Barbecue, Pampa; Poppa Rollo's Pizza, Waco; and Siesta Restaurant, Victoria.
Robert Hughes, director of the Institute for Family Business, says many members of the public have nominated family businesses in previous contests. "Some have been loyal customers of these businesses for decades. They tell us that this is their way of saying 'thank you' to the owners."
Hughes says outstanding family firms should demonstrate contributions to their industry and community and be positive role models for both the business community and the family in business. "Family businesses are the backbone of the U.S. economy. It has been estimated that 75 percent of all businesses in the United States are family-owned or controlled."
Judges for this year's contest will include family business consultants and advisers and principals of family firms. The awards will be presented Oct. 23 during a ceremony in Austin.
Nomination forms can be obtained from the Institute for Family Business, P.O. Box 98011, Baylor University, Waco, TX 76798-8011. For more information, call Doris Sandberg at (254) 755-2265, ext. 5.