An estimated 90 percent of U.S. businesses are family owned. They represent 49 percent of U.S. GDP, and employ 80 percent of the work force. Yet rarely do the media examine the subject of families running businesses.
Twin Cities Business’s Minnesota Family Business Awards coverage delves into this subject by honoring five outstanding companies that demonstrate how family values, dynamics, idiosyncrasies, and traditions can help a business succeed; and how the emotional side of family relationships can help counter the sometimes cold, hard realities faced when making critically important business decisions.
Each honoree has a positive family business structure with a strong record of success, family involvement, and community service. Each brings significant value to Minnesota’s economy.
The panel of judges for the 2011 Minnesota Family Business Awards consisted of Sally Grossman, principal, Gray Plant Mooty; Farley Kaufmann, CPA, Lurie Besikopf Lapidus; Rich Sorenson, professor of entrepreneurship, University of St. Thomas; Brian Adams, senior vice president, business banking, Bremer Bank; Tom Hubler, owner, Hubler for Business Families; Paddy McNeely, chairman and CEO, Meritex Enterprises; and Dale Kurschner, editor in chief, Twin Cities Business.