What is the Center for Family Business's mission?
At Case Weatherhead’s Center for Family Business, we understand the unique challenges and opportunities that come with leading a family enterprise. Our mission is to empower multi-generational family businesses and their families to thrive across generations.
Why have a family business center?
The Center for Family Business is committed to the longevity of family enterprises and the economic vibrancy of the Northeast Ohio community. It's designed to resonate with family business owners looking for support and resources to navigate the complexities of their unique business environment.
“Family businesses account for 64 percent of U.S. gross domestic product, generate 62
percent of the country's employment, and account for 78 percent of all new job creation.”
These statistics are believed to be similar for Northeast Ohio so the success and growth
of family businesses are key to the success and growth of the region.
Source: Astrachan, J.H. and Shanker, M.C. (2003), Family Businesses Contribution to the U.S. Economy: A Closer Look (http://coles.kennesaw.edu/centers/cox-family-enterprise/cox-family-documents/FB-in-US-2003.pdf).
How does family business success compare to that of a nonfamily business?
“Family business consultant and popular press journalists quote John Ward’s (1987) statistic that 30% of firms survive through the second generation, 13% survive the third generation, and only 3% survive beyond that. The 30/13/3 statistic has been largely unchallenged and moreover seems to suggest that there is something fundamentally ‘wrong’ with family firms and that inevitably fall into the three-generational survival trap. These figures are often misquoted and misunderstood.”
Source: Zellweger, Nason, Nordqvist, “From Longevity of Firms to Transgenerational Entrepreneurship of Families: Introducing Family Entrepreneurial Orientation, “ Family Business Review 2011
“According to statistics, your family business has the same chance of survival as General Electric [the only company of the original SJIA that remained on the list of the time of the article]. Does that suggest that a four-generation 3% survival rate is “meager”? It suggests to me that, rather than bemoaning family business survival rates, we should judge them as somewhat between normal and extraordinary.”
Source: Craig Aronoff, PH. D., “Family Business Survival: Understanding the Statistics”, 2001
What do I gain by being a family business member?
Membership in the Center for Family Business provides:
- Educational Programs: Tailored to the specific needs of family businesses, covering crucial topics like succession planning, shareholder transition planning, leadership development, family education and strategic communication.
- Networking Opportunities: Connect with a community of family business owners who share similar challenges and aspirations balancing the business and family.
- Peer Forums: Engage in meaningful exchanges that foster growth and innovation within your family enterprise.
- Expert Guidance: Access to thought leaders and industry experts who provide actionable tools and strategies for business perpetuation and modern challenges.
- Research-Backed Resources: Moving beyond antidotal stories, benefit from data-driven insights and evidence-based practices that ensure your family business is well-equipped for the future.
We are dedicated to building the intellectual and networking hub for business owning families in Northeast Ohio and beyond.
Who can join?
A family-owned business is defined as two or more family members who are involved in the business and the family has controlling interest. Only family businesses can join the Center for Family Business.
Can I join at any time?
Yes! Membership is for one year from the date of joining.
What does membership include?
Membership encompasses all family members working and not working in the business as well as key non family business leaders. Membership includes attendance at all Center for Family Business sponsored programs and participation in peer forums.
Where are the programs held?
The Family Business Series programs – our quarterly “deep dive” programs taught by family business experts on topics specifically tailored for family businesses – are held at Tinkham Veale University Center on the campus of Case Western Reserve University. Other programs are held at various venues throughout Northeast Ohio. As of right now, we do not video or live stream programs.
Can I attend programs if I'm not a member?
Yes! If you are family-owned business, you are welcome to attend one Family Business Series program as our guest. Other programs, which are those generally held off campus, have a per person charge for nonmembers.
How do I become a sponsor?
The Center for Family Business offers industry exclusive sponsorship opportunities for organizations that would like to support family businesses. Please visit the Sponsorship page for more information or contact the Center for Family Business Director, Laura Bonnet.