Ties that Bind

Family biz owners take note

Baylor University's Hankamer School of Business [Waco] is looking for Texas' best family business."The family- owned firm is extremely important in the economy of the United States, comprising 80 to 90 percent of all business enterprises in North America," said J. David Allen, Director of the John F. Baugh Center for Entrepreneurship. "When family-owned firms are able to continue the business into the second and third generations they have achieved what very few are able to achieve."

Criteria for application include being a business organization, public or private, home based in Texas that has one or more of the following characteristics: 1) has been owned and operated by different generations of a family; 2) the potential exists for ownership to be passed on to a younger generation; 3) more than one member of a family has active employment in an organization owned by a family; 4) a family holding company which is presently operating a business.

Applications for the 18th annual event will be accepted through August 15 and the award ceremony will take place in November. Winners will be chosen in three categories based on the size of the company: small, medium and large. The Hankamer School will also distribute awards based on the special categories ofFamily Values Award, Community Commitment Award, Fastest-Growing FamilyBusiness Award, Well-Managed Family Business Award, Founders Award andHeritage Award.

Winners from last year's event include First Dallas Holdings, Inc. of Dallas in the small business category, Pulliam Pools of Fort Worth in the medium category, and DAVACO, Inc. of Dallas in the large category. .:.