The Family Business Award of Excellence recognises outstanding entrepreneurial families around the world. The Award, which was first held in 2012, was presented in Australia for the first time. 

Brian White, joint-Chairman Ray White Group, said, "The wonderful thing about this award is the recognition that across Australia, what we have done over four generations has been something worth of acknowledgement. This award has been in existence in Europe for some years, where family businesses have been in operation for generations."

The EY Entrepreneur of the Year program is considered the world's most prestigious business award and is held in more than 145 cities and 60 countries world-wide. For the The Family Award, EY examined businesses in Australia that have been family-owned for three generations or more.

Tony Johnson, EY Oceania Managing Partner and CEO said family businesses face unique challenges. "The White family has navigated these challenges with great success for three generations. Ray White Group is a testament to the economic and social value that entrepreneurial families contribute," he said.

For Ray White, the award acknowledges the importance of family values. "EY's recognition that we have really attempted to preserve family values through succeeding across generations is fantastic for our company," said Brian. "Our company is a collection of families, and together we represent family values. It is a thrill to hear stories from people joining our company that one of the reasons they chose to join Ray White is the fact that we are a strong family-owned and led company."

The Family Award has gone to some of the world's most famous companies, including LEGO, Faber-Castell, and Messer Group.

Each recipient of The Family Award will be featured in an EY Global Family Business Yearbook in 2016. The 2016 book will be launched in Monte Carlo in June 2016.