Family Enterprise 2022

Objective

To reward family-run enterprises that have made a sustainable contribution to the economy, social progress and the development of an entrepreneurial mindset among young people in Estonia.

Who can apply?

Estonian enterprises which have successfully involved several generations in leadership positions and fostered an entrepreneurial mindset among young people are invited to apply.

Assessment criteria and process

We ask the entrepreneurs to show (1st stage):

  • Revenue in 2021 (if you have submitted your annual report to the Centre of Registers and Information System, you do not have to fill in this section)
  • Added value* in 2021 (if you have submitted your annual report to the Centre of Registers and Information System, you do not have to fill in this section)
  • Average number of employees in 2021 (if you have submitted your annual report to the Centre of Registers and Information System, you do not have to fill in this section)
  • The number of family members involved in the leadership and governance of the enterprise

 

The following financial indicators are taken into consideration (comprising 50% of the final result):

  1. Total financial export revenue in 2021 (10%)
  2. Increase in export revenue 2019 vs 2021 in % (10%)
  3. Value added* per employee in 2021 (15%)
  4. The number of family members involved in the leadership and governance of the enterprise (15%)

 

The enterprise must show a significant achievement in the following areas (comprising 50% of the final result):

  1. Involving family members or transferring leadership to family members (in the past three years) Please describe the role and responsibilities of the family members (10%)
  2. Involving the next generation in the leadership and development of the enterprise has resulted in significant innovation or new knowledge (10%)
  3. A breakthrough or success in the development of the enterprise in the past 2 years (10%)
  4. The enterprise has outstanding activities and accomplishments in digitalisation, sustainability, and innovation *** internally as well as societally (10%).
  5. The enterprise has shown flexibility and adaptability in complicated situations and during pivotal times (10%)

 

*Added value per employee = (personnel costs including taxes + asset depreciation + business profit) / number of employees