Three local businesses have been inducted into Family Business Australia’s hall of fame, including an electrical contractor established in 1920, a fertiliser supplier and an engineering business that recently listed on the ASX.
Three local businesses have been inducted into Family Business Australia’s hall of fame, including an electrical contractor established in 1920, a fertiliser supplier and an engineering business that recently listed on the ASX.
At an inaugural hall of fame dinner last night, VEEM, electrical services business Hiddlestone Electrics and garden products manufacturer Baileys were recognised for their demonstration of family business best practices and excellence in their industries.
FBA WA chairman Lance Stringer said the annual awards provided an opportunity for family businesses to recognise the achievements and hard work of the inductees, be inspired by the companies as well as celebrate the successes in their own family businesses.
Marine-focused engineering business Veem was established in 1968 by the Miocevich family and specialises in propulsion and stabilisation systems.
It was awarded the title of Australian marine exporter of the year in 2012 and 2013, and just last month began trading on the ASX after completing a $25 million initial public offering.
“The induction into the hall of fame is a lovely recognition for my mother in her 80s who has driven the business and been the head of the family unit for a long time,” Veem chairman Brad Miocevich said.
“It’s also a wonderful acknowledgement and something the next generation can look forward to and be proud of and that may give them the required drive and passion to be involved in the company.”
Mr Miocevich told Business News that he took his mother Elizabeth to the dinner last night as it was really about her "steely resolve" to keep Veem going for her boys.
Subiaco-based Hiddlestone was established in 1920 by Howard Hiddlestone and specialises in the provision of electrical services to household, office and industrial areas.
Mr Hiddlestone’s younger brothers Cec and Bert joined the company in 1924. Cec’s son Vern then entered the business in 1956 and ran it until he passed away two years ago.
An alleyway running off Rokeby Road, Hiddlestone Lane, was named in his honour earlier this year.
Now the Hiddlestone family’s third generation currently runs the business, with Vern’s daughter Natalie Hiddlestone taking the helm.
Baileys was also recognised for the company’s manufacturing of premium blended and fully granulated lawn and garden products since its entrance into the horticultural industry in 1926.
“We want our business to remain under family ownership as it is handed to the next generation and recognise the importance of governance structures,” managing director Kim Bailey said.
Kim Bailey (second from left) with his family.
