Southwest Indiana Chamber Announces results from Family Business peer group study

The Southwest Indiana Chamber Family Business Alliance in partnership with the Southwest Indiana Small Business Development Center announced the results of a study performed by Diehl Consulting Group to examine and understand the efficacy of the Family Business Alliance Next Generation Peer group.

The Next Generation Peer Group members are emerging leaders in various family owned businesses in Southwest Indiana. These businesses represent over 1300 employees and $450 mil in revenue. Participants were interviewed and asked questions to help evaluate the efficacy and impact of peer group meetings.

All participants interviewed reported that participation in the Next Generation Peer Group was yielding positive benefits, with 86% reporting that they strongly agreed they received positive benefits.

Overall, a number of key benefits were identified and include:

1. Gaining insights into effective business practices related to strategic planning, operational practices, personnel decisions, employee engagement, time management and overall leadership;

2. Finding support, understanding and practical suggestions for issues that are unique to family owned businesses;

3. Creating and deepening professional and personal peer to peer relationships.

4. Better connections with the Southwest Indiana community and becoming aware of and invited to attend other groups were also noted as benefits.

Peer group member, Katie Lowhorn said, “The Next Generation Peer Group has provided us the opportunity to share ideas and best practices to achieve next level success. As a part of a multi-generational family owned-business, I have enjoyed the networking and relationship building with other professionals in our wonderful community.”

“Peer Groups are a critical strategy for Chambers of the future. The outcomes of this review underscore the Chamber-Southwest Indiana SBDC commitment to serve the interests of family and locally-owned businesses that are critical to the future of this region, said Southwest Indiana Chamber President and CEO, Tara Barney.”

If you are interested in learning more about the Family Business Alliance or participating in a Family Business Alliance Peer Group, contact Kim Howard, Regional Director, Southwest Indiana SBDC at khoward@swinchamber.com. Or go to: www.swinchamber.com/family-business-alliance/.