Few family businesses survive into a fourth generation. But Warren's Taylor Box is still going strong after its founding 135 years ago in Providence, and continues to thrive even in the midst of the pandemic and one of the toughest business climates in years.
The Child Street company, which makes high end packaging for the pharmaceutical, wine and spirits, sporting goods and other industries, was recently named the Rhode Island Jeffrey Butland Family-owned Small Business of the Year by the United States Small Business Administration.
"I really appreciate this," president Dan Shedd of the company's recognition. "We as a company and family are thrilled to be recognized and to get this kind of visibility in the community is really an honor. Rhode Island small businesses are a huge part of the economy, perhaps more so than any other state."
The company got its start in 1885, when Clarence Taylor opened a small box factory on the site of what is now the Dunkin Donuts Center in Providence. The five-employee box-making company was purchased by Mr. Shedd's grandfather in 1922, and the firm thrived there for years until the family packed up and made the move to Warren in 1952. Ownership was later passed down to Mr. Shedd’s father, Martin, and eventually to him in 1980. Along with his brother Dave, the Shedds have been working ever since to add product lines and services, modernize production and design, and reach out into new markets. The business has thrived, with sales increasing 371 percent between 2009 and 2018.
Like every other business, Taylor Box has faced challenges since the onset of the coronavirus pandemic. When COVID-19 forced Taylor Box to halt operations, Mr. Shedd was able to secure a PPP loan from Bank RI. The funding allowed Taylor Box to keep its staff on payroll, negating any perspective layoffs and ensuring that the business could continue to operate. The firm currently employs about 40 people, down from as high as 70 before the pandemic.
Mr. Shedd said he is proud of his employees' resilience and hard work, and despite a tough business climate predicts that the firm will continue to innovate and compete in a world more geared to huge corporations than small family-owned shops:
"We live in a world of McDonalds, American Express, Ford Motor company and all these giant corporations, (but) there are many, many small companies and many small manufacturers in our case that are part of an important supply chain in the American economy," he said."