Every family has a story, and every family business is like an heirloom passed from one generation to the next. Perfection Spring & Stamping Corp. is one of these special businesses; the company is now entering its third generation, having been founded over sixty-years ago.
Perfection was proud to be nominated for the 22nd Annual Illinois Family Business of the Year Award, presented by Loyola University’s Quinlan School of Business. This award recognizes companies that have demonstrated a strong commitment to innovative business practices and strategies, as well as positive family/business linkage.
At the Nominees’ reception held July 28 at Loyola’s Chicago campus, Perfection sat among an elite gathering of family-owned businesses, each nominated in different categories by revenue and community service. Past award winners include Gonnella Baking Co., Klein, Tools, Sloan Valve Co., and American Hotel Register Co.
Family businesses invest more in their employees and equipment than publicly traded companies. Additionally, these distinctive businesses have a long-term focus on less debt and a unified team vision, rather than the short-term gain Fortune 1000 companies are known for.
There are over 17 million companies in the United States; most of these businesses are family-owned, like Perfection Spring & Stamping Corp., and they employ 85% of the American workforce. Of the Fortune 1000 firms, 35% are still designated at private family-run businesses. Accounting for over 64% of GDP in the United States, family-owned businesses are the true economic engine of our economy.
Family-owned companies possess four distinct traits: values, pride, identity, and unity. Since 1955, Perfection Spring & Stamping has endeavored to instill these traits throughout its entire organization. Perfection is known for treating its employees like family. Additionally, Perfection tries to act as if it’s a division of every company it does business with, looking out for their best interests to help them thrive in today’s global market. This practice is often is non-existent in public companies.
Perfection Spring & Stamping is a custom manufacturer of metal stampings, springs, wire forms, and assemblies. Perfection manufactures a wide range of products, which include covers, brackets, shields, heatsinks, retainers, fasteners, contacts, connectors, clips, antennas, and more.
Visit Perfection Spring’s Website today to learn more about “The Perfection Advantage.”
Loyola University Chicago – Quinlan School of Business http://www.luc.edu/quinlan/fbc/fboy.shtml