Loyola University Chicago

Loyola Business Leadership Hub

Housed in the Quinlan School of Business

Rules and FAQs

Family-owned businesses headquartered in Illinois. Previous Illinois Family Business of the Year Award winners are not eligible.

Anyone can submit a nomination.  You can self-nominate or nominate another family business.

You can submit a nomination using our online nomination form.

There is no charge to submit an nomination.

Nominations are typically due in May.

more than 250 employees

50-250 employees

Less than 50 employees

Community Service
Presented to businesses showing exemplary community service efforts

Century Award
Presented to businesses honoring the success and longevity of a family business

Dean's Award
Presented to businesses that excel in social enterprise, supply chain management or emerging markets

Applications are sent to all nominated businesses (once approved). Before filling out an application, be sure to check out our application info page. If you have specific questions about the application process, contact us at 312.915.6490 or ilfboy@luc.edu.

Yes, you can. Applications remain active for three years. For example, an application from 2013 would be considered active in 2015. That said, you are free to submit a new application or update information to your previously submitted application.

Applications (including all entry materials) are typically due in June. Applications remain active for three years; if you have previously submitted an application, you will receive an email recommending that you update (at the very least) financial information. Additional updates to previously submitted applications are encouraged.

Illinois Family Business of the Year Awards
Loyola University Chicago Family Business Center
820 N. Michigan Ave.
Chicago IL 60611

The Community Service, Century and Dean's Awards are special designations presented by the Loyola Family Business Center. Submissions for these categories are not allowed, but the Community Service Award is largely based on application question #6 while the Dean's Award is largely based on application question #10.

Our judges look for examples of business growth and success, positive family-business linkage, multiple generation family business involvement, contributions to the community and industry, and innovative business practices and strategies.

Finalists are announced in July.  Winners are announced in August.

Winners of the Small, Medium, and Large Awards, along with winners of the Community Service, Century and Dean's Awards, are honored during the Illinois Family Business of the Year Awards Gala. See our events page for more information.