Walsh College Opens Nominations for Family Business Award

TROY— Walsh College is accepting nominations for the Succession Success Award, a new recognition for family owned and operated businesses. The Succession Success Award honors family owned and operated businesses that have successfully transitioned leadership and ownership from one generation to the next. Nominations are now being accepted on the Michigan Business website and must be submitted by Aug. 20. 
 “Nominees should exhibit the tenacity, vision, and love of their businesses to plan for the future and successfully transition toward it,” says Jan Hubbard, Walsh Leadership Center director. “Family business transitions can be parent to child, and it can also include nieces and nephews, cousins and other family relationships,” she notes.
The Family Firm Institute’s most recent study shows that family businesses comprise 80 to 90 percent of all businesses in North America. These companies account for 60 percent of total U.S. employment, 78 percent of all new jobs and 65 percent of wages paid.
The Succession Success Award is one of several that will be presented at the Best of #MichBiz event on November 17  at 5:30 p.m. at the International Banquet Center in Detroit.