Archway Finalist for NS Family Enterprise of the Year
Archway Insurance is proud to be one of three finalists in the CAFE Nova Scotia 2013 Family Enterprise of the Year.
“Over the past three decades, we have worked hard to build a successful company, and it’s an honour to be recognized by our family business peers in Nova Scotia,” says Archway President Garry Stack. “I’d like to extend our best wishes to the other finalists.”
The Canadian Association of Family Enterprise (CAFE) and National Corporate Platinum Sponsor, BMO Harris Private Banking announced the three finalists for the 2013 Family Enterprise of the Year Achievement Awards (FEYA®) for Nova Scotia. Archway Insurance , Able Eclectic Ltd. / Trail Blazer Products Ltd., and Fairway Insurance Services Ltd.
“These three families are great examples of successful family enterprises. They are defying the statistics that reveal that only a little more than 30 percent of family businesses survive into the second generation, even though 80 percent would like to keep the business in the family,” says Greg Leslie, CAFE Nova Scotia FEYA Chair.
In 1985 Garry Stack left the world of banking to become an entrepreneur. He purchased a small insurance brokerage in Yarmouth, got his insurance license, and began working round the clock with his wife Jane to build his business. While raising three young children, they recruited strong business partners, and grew the business to several locations. The new millennia saw the next generation join the business with Michael joining his father in Amherst to manage commercial lines. Over the past decade Michael and Garry went into acquisition mode, more than doubling the size of the brokerage. This growth enabled the brokerage to become a valued employer in many small Nova Scotia communities, as well as creating the opportunity for other family members to get involved. Garry’s other two children, Gina and Robert, and Michael’s wife Chastity, joined the company bringing the number of family members directly involved to six! The company rebranded itself as Archway Insurance in 2011, and is now one of the top brokerages in Atlantic Canada. Archway provides quality careers for approximately 50 people in Nova Scotia and New Brunswick, and is actively transitioning from first to second generation management and ownership.
This award is given annually by CAFE to recognize, celebrate and promote achievements of Canadian family businesses and the considerable contribution they make to both their local communities and our national economy. CAFE Chapters hold their individual awards programs with winners going on to participate in the national competition.
The three national finalists will be featured at a gala dinner to be held in Toronto on June 8, 2013. National winner of the FEYA title for 2012, Emily Tregunno of the Halifax Seed Company, says, “The recognition from the Canadian business family community is both an honor and a privilege. Being recognized with the CAFE Family Enterprise of the Year Achievement Award has made a positive impression on the Halifax Seed Company family and team. It has been a very valuable process, looking at our achievements, successes and challenges both as a family business and as a family.”
ELIGIBILITY: Applicants must be a “family-owned business” rather than an “individual”. A family-owned business is defined as a business organization that has one of the following characteristics:~ Has been owned and operated by different generations of a family.~ Where the potential exists for ownership to be passed on to a younger generation.~ More than one family member has active employment in an organization owned by a family.~ A family holding company, which has in the past or is presently operating a business, must be a Canadian company, the company can operate internationally, but the head office must be in Canada.
The Canadian Association of Family Enterprise (CAFE) is Canada’s only national not-for-profit that celebrates and supports family business. Founded in 1983, it has grown to include 14 chapters from Vancouver Island to Nova Scotia. The organization facilitates peer interaction, allowing family business members to share experiences and learn from each other. CAFE also creates a community of families and professionals who can provide technical solutions and expertise to help families in business succeed. CAFE, as a result, is the voice of family business in Canada. For more information, visit cafecanada.ca