Family Business Alliance FAQ
Q: Will members of my organization who are not family benefit from the family business alliance?
A: YES! As a matter of fact, a lot of what we discuss focuses on the business as a whole and how all members, both family and non-family, need to work together for the common goal.
Q: What are the benefits of attending Family Business Alliance Events?
A: The Family Business Alliance events are a great way of networking with other small and large family owned businesses, access to industry experts, and shared best practices with other comparable businesses.
Q: What is the cost of being a part of the Family Business Alliance?
A: Family Business Alliance events are paid on a per event basis. Some events are even free to attend due to our generous sponsors!
Q: We are a family business, and we’d like to participate. Who should we send from our business?
A: The events and learning opportunities generally focus on strategic challenges and opportunities regularly faced by family businesses. Family business founders, non-founding owners and managers, executive management, and next generation owners and managers seem to benefit the most from these events.
Q: How long ago was the Alliance established? Why was it established?
A: The Alliance started in early 2015 to provide resources to support and encourage the health and growth of family enterprises through educational events, networking and access to industry experts. We know that family-based companies are a major contributor to the U.S. economy. They account for 50% of the gross domestic product and are responsible for 60% of the nation’s employment and 78% of new jobs created. They also face some challenging issues and hurdles that we wanted to help them address. So, our programming includes finding experts in areas like succession planning to help them navigate these challenges. In 2015 we held 3 events with close to 400 attendees.
Q: What does the Steering Committee do?
A: The steering committee drives the mission and agenda of the alliance by identifying and bringing resources to the table in support of family owned businesses. They determine programming based on input from the family owned businesses and stakeholders and execute the initiatives in the business plan that was developed following an in-depth SWOT analysis. They are also critical to connecting with the family business community in our region to make them aware of our mission.
Q: How do businesses directly benefit from the Alliance?
We’re hoping that everyone who attends an event or participants in a peer groups (we now have a next generation peer group that is very active) has the chance to make new connections and be exposed to best practices in the business community that will assist them in growing a healthy family business.