Family-run businesses urged to join the race for recognition in this year's Be Inspired Business Awards

According to research, family-run businesses in Lancashire are estimated to contribute over £14 billion to the local economy each year.

The Institute for Family Business says family businesses are more likely to survive over the long term than non-family businesses, pointing to research that shows that family businesses have a higher survival rate, with around 70% surviving to the second generation and 30% to the third generation.

The Family Business of the Year award is open to businesses where majority control remains within one family, continuing through generations that can demonstrate and evidence sound financial growth, diversification and modernisation, a clear vision for the long term future of the business, including planned succession.

Previous winners of the award include Booths Supermarkets and Plumbs, two businesses that have demonstrated exceptional growth, innovation, and resilience in the face of challenges.

It is sponsored this year by Brabners Lancashire. Brabners is a leading independent law firm and home to nationally recognised experts in a number of practice areas. The Brabners Lancashire office is based at Sceptre Court Business Park in Central Lancashire. Brabners Lancashire relocated from Winckley Square, Preston, to the new Grade A office in 2021.

Tom Smith, partner, Brabners Lancashire,said: “We are really looking forward to this partnership and getting to know some of the finest family businesses in the county. At Brabners, we support hundreds of family businesses in Lancashire, many of which are household names, and very much understand what makes them so special.

“Family businesses are such an important facet of the Lancashire business community, a real driver of the local economy, it’s important we shine a light on them.”

The North & Western Lancashire Chamber of Commerce that organises the BIBAs is also calling on businesses to enter the Employer of the Year award.

This is open to any business that can demonstrate exceptional commitment to skills and workforce development supported by excellent employment practices, rewards programmes and employee engagement, and is being sponsored by Active Lancashire.

Applications for the BIBAs are open until 5pm on Friday, March 31 2023, and the winners will be announced at a glittering ceremony on September 15.