Family-Owned Small Business of the Year

 

Eligibility Requirements:

  • This award honors a family-owned and operated business which has been passed on from one generation to the next. The owner must also serve as a majority owner and operator or bear principal responsibility for operating a small business with at least a 15-year track record.
  • To be nominated to receive this award, the nominee must be an individual who owns and operates, or who bears principal responsibility for operating a business. Partners who jointly own and operate a business may be nominated as a “team,” so long as the number of individuals in the team nomination does not exceed four.
  • Nominees must also be residents of and employed in the United States or its territories and will be subject to background checks.

 

Selection Criteria:

  1. Evidence of success as measured by sales and profits.
  2. Increased employment opportunities for family members and non-family members for the nominee’s business.
  3. Demonstrated potential necessary for long-term business success and economic growth.
  4. Voluntary efforts to strengthen family-owned businesses within the community.

 

Submission Documents:

  • SBA Form 3300, Award Nomination Background Form
  • A brief biography of the nominee, not to exceed one page. For “team” nominations, a biography is required for each team member.
  • A business profile that includes a description of the nominee’s business and information to support the evaluation/selection criteria listed above.
  • The nominee’s financial performance in the following format:

 

Financial Summary:
Year 2014 2015 2016
Number of Employees
Total Sales
Net Profit (Before Tax)
Total Assets
Total Liabilities
Net Worth

 

  • Based on the financial chart provided above, please explain in more detail the business’s year to year changes in financial health (e.g. sales, net profit, net worth) and number of employees.
  • Additional supporting documentation deemed significant by the nominator, including news clips, letters of recommendation and other evidence of the appropriateness of the nomination (supporting documentation must not exceed 10 pages). Videos will not be considered;
  • An original 8” x 10” or 5” x 7” photo of the nominee or a digital photo – at least 300 dpi; photocopies are not acceptable. For “team” nominations, a group photo is acceptable