COUNTY TIPPERARY BUSINESS AWARDS
BEST FAMILY BUSINESS OF THE YEAR 2017
The County Tipperary Business Awards will award The Best Family Business of the Year award to an organisation, trading for more than 1 year in Tipperary, that is striving to create world class products and services, setting the highest benchmarks and optimising opportunities in their market place and doing that together with at least two members of their family.
Family run businesses include both SMEs as well as sprawling corporations such as Walmart, Warburtons, Disney, Samsung, Tata Group, Musgrave Group, Flahavans and Porsche, and they account for more than 30% of all companies with sales in excess of $1 billion (US figure), according to a Boston Consulting Group’s analysis. Conventional wisdom holds that the unique ownership structure of family businesses gives them a long-term orientation that traditional public firms often lack. HBR, November 2012. Family firms remain a vital part of Ireland's economy and are a primary source of job creation across the nation.
To be eligible for the Best Family Business Award, nominees must have been in operation for a minimum of 12 months, based in Tipperary. The family-owned business, defined for these awards, is a business in which two or more family members are involved and the majority of ownership or control lies within a single family.
Please note that there is a separate category for retail & food service/hospitality & tourism/SME/Large and Startup. It is encouraged that you enter the award category that is the best fit for your business.
Judges will be looking at:
- Company Structure & Culture: The winning business demonstrates how working together as a family has had a positive impact on the business in areas such as resilience, business values, structure and dynamics of the leadership team contributing to the culture and growth of the company
- Future Viability
- Succession planning
- demonstrate significant growth, innovation and opportunity with short and long term strategic plans
- Future Development: Application of sound, innovative thinking in its planning and operational management. An excellent understanding of the market and of customer needs, coupled with the ability to recognise and act upon new opportunities.
- Digital Strategy: Only 55% of family run businesses surveyed in Ireland stated that they have an integrated digital strategy in place which is fit for the digital age. The winning company will demonstrate how they are planning to or are incorporating a digital strategy to help create growth oriented opportunities
- Growth & Developments: Evidence of achievement and performance that makes the business stand out from its competitors
- Contribution & Legacy: Contribution to Region (employability, attracting new investment) and legacy of the family business