Family Business Award applications sought

Family Business Award applications sought The South Dakota Family Business Association and the Vermillion Area Chamber of Commerce are proud of their annual tradition celebrating its fifth year in the community with the presentation of Family Businesses of the Year Award during the annual awards banquet on Feb. 18.

This award sponsored by CorTrust Bank, will recognize the accomplishments of a family business and its contributions to the community and the surrounding region; it includes family businesses in the counties of Clay, Turner, Union, and neighboring Nebraska counties.

In short essay format, family business owners can explain why they would like their business honored with the 2005 Vermillion Area Family Business of the Year Award. Essays may include business and family accomplishments, innovations in business, values in family business, and/or contributions to the community during the past year � pictures, articles, and newspaper clippings may also be included.

A selection committee consisting of association board members and chamber

representatives will use

the following criteria

in consideration of the

applicant: at least two family members work in the

business, and/or multi-

generational (at least two

generations of continuous ownership/management); positive contributions (financial, volunteer, leadership, participation) of the business or its owner/management to the welfare of our community; success of the business; subjective assessment of the health and unity of the family; other relevant criteria as determined by selection committee.

The winner of the local award will then be considered for the statewide award to be presented in April 2005 with the potential for national consideration. Applications may be obtained via the association's Web site at www.usd.edu/fambus or by calling 605-677-5103 and are due by Feb. 9.

The South Dakota Family Business Association was founded in 1993 with a mission to build relationships that promote healthy families and successful businesses through education, research and peer interaction. It assists family firms in balancing the unique challenges of blending family and business.

Together with its corporate sponsors (Eide Bailly, RSM McGladrey, and The University of South Dakota), the association offers an annual conference, the Distinguished Lecturer Series, the Legacies of Family Enterprise Series, and local workshops on a variety of topics.

Books, video/audio tapes and articles are also available to check out from

their resource library. More information is available

on their Web site at www.usd.edu/fambus.

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