Family businesses urged to enter awards

FAMILY businesses in the East End are urged to enter a contest rewarding their enterprise. The closing date for the Coutts Prize for Family Business is Saturday October 31 and entrants must consider themselves to be a family business although family mem

FAMILY businesses in the East End are urged to enter a contest rewarding their enterprise.

The closing date for the Coutts Prize for Family Business is Saturday October 31 and entrants must consider themselves to be a family business although family members do not have to be involved in the management of the firm and should have made a profit in at least two of the last three years.

There are two categories for small businesses with a turnover of �5 to 25 million and larger firms with a turnover of �25 million plus and shortlisted firms will get a company heath check.

Mark Evans, Head of Family Business at Coutts said: "Up to two-thirds of businesses in London and Greater London are run by families and across the UK these family businesses account for a large share of UK Gross Domestic Product and employment. They also enter each and every one of our lives far more than we realise, from the wine we drink and the cars we drive to the offices and homes we work and live in. Yet even today, much of their work goes largely unrecognised by society and they get very little help with tackling the unique challenges they face in areas such as business succession."

Entry packs are available from Robert.jacobs@coutts.com or on 0207 649 4046