According to research, a high proportion of micro businesses employing nine people or less are family-owned, with over half of small businesses (those with 10-49 employees) also owned and
operated by families.
The same research found that the main motivations for starting family-owned businesses are the creation of a sustainable long-term income stream, the growth and preservation of family financial and
emotional wealth, and the creation of opportunities for the next generation.
Dawn Cheetham runs Blackpool-based family business CKS Catering with her sister. It is sponsoring the Family Business of the Year award.
Ahead of the judging, she said: “Given that most businesses in Lancashire are classed as micro and small, it stands to reason that a great many of them will also be owned and run by families
“Family businesses tend to focus more on longer-term stability and sustainability, prudent financial management that relies heavily on retained earnings, and having a good relationship with employees.
“It will be interesting to see how this comes through in the interviews we’re conducting this week among those firms vying for recognition in the Family Business of the Year award. I expect there will be a lot of emphasis on things like doing business with a purpose beyond profit, employee engagement, being part of the community and maximising supply chain spend in the county."
CKS Catering was launched in 1977 by Hugh Chatterton and is run by the second generation of the family.
Other well-known family businesses in Lancashire include supermarket retailer Booths, transport company Fagan and Whalley, and Bowker Motor Group.
Entrants in this year’s BIBAs are being encouraged to buy their tickets for the ceremony, that is set to take place in the Blackpool Tower Ballroom on Friday, September 16, or risk missing out.
The competition’s organiser, the North and Western Lancashire Chamber of Commerce, said that ticket sales typically accelerate soon after judging has finished and that entrants should secure theirs now before they’re all gone.
Tickets can be purchased securely online here https://www.thebibas.co.uk/attend-the-bibas