On October 25th, the Rothman Institute presented the 25th Annual NJ Family Business Awards, and McRae Capital Management was one of 15 companies honored as “the finest family businesses in the state,” according to event sponsor Fairleigh Dickinson University. We were very proud. “It was wonderful to be recognized in this way, and to be in such great company,” said McRae Capital managing partner Peter McRae, who attended the event at Crystal Plaza, in Livingston, NJ.
But it got even better. Read on…
The event was beautiful, gathering some of New Jersey’s top family businesses together for a meet and greet followed by an awards luncheon. Organized around presentation tables for the various honorees, the meet and greet was a pleasantly loud, energized room, with sponsors and honorees mingling among passed hors d’oeuvres.
Some of the businesses, like Calandra’s Bakery and Wellshire Farms, even offered free samples. But indulging didn’t spoil anyone’s appetite for the awards luncheon to follow. The awards portion of the event featured several speakers talking about the special challenges that face family businesses, including passing the torch to successive generations. According to Al Titone, the NJ district director for the Small Business Administration, in his well-received keynote address, family businesses account for nearly two thirds of America’s gross domestic product.
Then it came time for the awards, in the under $10m and over $10m categories. When they named the five semifinalists in our category, they didn’t mention McRae…so we knew we were either the winner or the lone finalist. And although Chatham Moving and Storage, a very deserving fourth-generation firm ultimately took the prize in our category, we were very proud of our success, and a good time was had by all. “The Rothman organization does great work promoting New Jersey family businesses,” said managing partner Roddy McRae, “and we were really honored to be part of this great event.”
(UPDATE: New Jersey Business Monthly just covered the awards. Thanks for the mention!)
At McRae Capital, we believe that every family is a family business. You have resources and costs, investments and dividends. There’s risk and uncertainty, and it takes hard work and focus to stay on the path to long-term financial success. There are many pitfalls, and it can help to have a trusted expert in your corner. We founded McRae Capital Management to support the important business of running families, and as a family business ourselves, we take our work very seriously.
If you have questions about saving for kids’ college, or retirement planning, or trusts, or any of the other topics in the life of your “family business,” don’t hesitate to give McRae Capital a call for a free consultation. We’ve been doing this for a long time…for ourselves and for families just like yours. We’re here to help. (Download this Family Business Awards announcement as a PDF here.)