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Permian Basin Family Business Award

Family businesses make a significant economic contribution to the United States economy. For example, more than 85% of the U.S. workforce is employed in family businesses. In addition, approximately 80% of all new jobs created in the U.S. in the last two decades were generated by family businesses. Family businesses have a rich heritage in the Permian Basin from small oilfield related family operations to larger third generation or longer organizations. While no formal data exists to quantify the economic impact, it is reasonable to assume that family business contributions to regional economic activity mirror the national data.

In recognition of the contribution of family businesses, The Jan and Ted Roden Center for Entrepreneurship and the School of Business at The University of Texas of the Permian Basin would like to introduce the first annual Permian Basin Family Business of the Year Award.

The purpose of the family business of the year award is to:

  • Recognize and honor the best in family business
  • Help preserve and promote family enterprise in the greater West Texas area
  • Encourage family business owners to preserve their family values and history and to plan for the future
  • Bring students and Permian Basin residents attention towards creating family businesses
  • Accentuate the importance and contribution made by family businesses through media and press

    For more information see brochure

Call for Nominations

Help us identify the best family businesses in the Permian Basin for the 2010 award.

Nominate one or more family business firms to be considered for the 2010 Permian Basin Family Business of the Year Awards in the following categories:

  • Small Business (under 50 employees)
  • Medium Business (50 - 100 employees)
  • Large Business (101+ employees)

Permian Basin Family Business Award - Nomination Form

  • Download the file and fill it out. E-mail it back to Dr. Leslie Toombs at toombs_l@utpb.edu

Rules

  • A firm may be nominated by anyone, including employees, business associations, satisfied customers etc. Self nominations are encouraged!
  • All family businesses headquartered in the Permian Basin are eligible
  • All nomination forms (above link) must be received by January 31st
    Nominees will be notified and asked to complete a formal application for the award
  • Applications must be received by March 1st
  • To constitute a "family business" the potential must exist for ownership to be passed on to a younger generation
  • The company must have more than one active family member employed in the organization
  • Outstanding firms show concern for the family values and history; the play a role in the community and demonstrate contribution to their industry through innovation