Deadline Nears for Nominations in BU Family Business Contest

July 21, 1998

by Alan Hunt

WACO, Texas ï Less than two weeks remain for people to nominate their favorite ¦mom and pop¦ firm for the ninth annual Texas Outstanding Family Business of the Year contest sponsored by Baylor University¦s Institute for Family Business.

The public and chambers of commerce throughout the Lone Star State are being asked to nominate top family firms for the competition. Family business owners can also nominate their companies for the awards. The deadline is Aug. 1, 1998.

Each year, the Institute for Family Business honors firms that demonstrate strong business and family values. Awards are given in three categoriesïlarge 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 recognized in the special award categories of Family Values, Community Commitment, Fastest-Growing Family Business, Well-Managed Family Business, and the Founders Award, for the business that best maintains the identity and original concept of its founders.

In previous years, many people have nominated their favorite family businesses, said Doris Sandberg, coordinator of the Institute for Family Business. "They explain they have been loyal customers and this is their way of saying 'thank you' to the owners."

Last year, more than 200 "mom and pop" businesses were nominated for the contest. Sandberg said 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, she said, adding, "It has been estimated that 75 percent of all businesses in the United States are family-owned or controlled."

The eight Texas firms honored in last year's competition were Casa Olé of Beaumont, Alford Media Services, Inc. of Dallas, Five Star Food Services, Inc. of Stafford, Joe T. Garcia's Mexican Food Restaurant of Fort Worth, Lammes Candies Since 1885, Inc. of Austin,

Transportation Unlimited of Dallas, Elliott's Hardware of Dallas and Pulliam Pool Builders, Inc. of Fort Worth.

Family business consultants and advisers and principals of family firms will be among the judges for this year's program. The awards will be presented Oct. 22 during a ceremony in Austin.

Baylor¦s Institute for Family Business is a component of the nationally ranked John F. Baugh Center for Entrepreneurship. David Allen, director of the center, said Baylor feels ¦privileged¦ to be able to honor family firms in this way. ¦We believe inïand applaudïtheir great contributions to the country,¦ he said.

Nomination forms can be obtained from the Institute for Family Business, P.O. Box 98011, Baylor University, Waco, TX, 76798-8011, telephone (254) 710-4154, fax

(254) 710-3724. Information on the Institute and the Texas Outstanding Family Business of the Year Award program can also be found on the world wide web at http://hsb.baylor.edu/entrepreneur/default.asp?lev2=133.

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