Nominations Now Open for Maine’s Top Family-Owned Businesses

The Institute for Family-Owned Business (IFOB) has officially opened nominations for its prestigious Maine Family Business Awards, which will celebrate the state’s exemplary family-run enterprises during the organization’s 25th annual awards ceremony this fall. This event highlights the contributions that family-owned businesses make to the local economy and communities across Maine.

A family business, by definition, is one where at least two family members share ownership or actively participate in its operations. The nominated businesses must be based in Maine, although membership in the IFOB is not a prerequisite for nomination. The awards serve as a platform to honor the unique attributes that family businesses embody, including shared values, resilience, and strong community connections.

Catherine Wygant Fossett, the executive director of the IFOB, emphasized the importance of these awards, stating, “These awards not only celebrate business excellence, but the values, resilience, and deep-rooted community ties that make family businesses so extraordinary. We encourage everyone to take a moment and nominate a business that inspires them.” Her comments underscore the vital role that family businesses play in fostering a sense of community and economic stability.

Winners will be determined by an independent judging panel that will consider various factors, including the degree of family participation in the business, overall success, the quality of the workplace environment, and the implementation of innovative practices. Notable honorees from the previous year’s awards included significant players such as Bouchard Family Farm and Fishermen’s Net, among others, underscoring the diversity and impact of family businesses across different sectors.

The deadline for nominations is set for June 20, and selected businesses will have until June 27 to complete their applications, which require a detailed history of their operations. In an effort to encourage participation, any family business that submits an application and is not currently an IFOB member will be granted a free membership for the remainder of the year. This membership includes access to valuable resources such as educational programs and networking opportunities.

The Maine Family Business Awards will be held in collaboration with MEMIC, which focuses on employee safety insurance. The gala ceremony is scheduled for October 8 at Thompson’s Point, Brick South, in Portland, providing a platform to celebrate the successes and enduring legacies of family-owned businesses in Maine. For further details, interested parties can visit the IFOB’s official website.