The Benefit of Support Groups for Family Businesses

Family businesses are an important part of the Canadian economy. They account for more than 60% of all businesses in Canada, and they generate more than half of the country’s private-sector GDP.

In addition, they provide jobs for millions of Canadians, and they contribute billions of dollars to Canada’s economy.

However, there is no doubt that they come with their own set of challenges. One such challenge is dealing with family dynamics when running the business. Fortunately, there are support groups for family business owners who need help navigating these challenging waters.

The family business support groups are designed to provide help and guidance to family businesses.

This article explores a list of family business support groups in Canada and how they can help you overcome some of these challenges and maintain your family legacy.

What are Family Business Support Groups?

A family business support group is a network where family business leaders share their thoughts and ideas. They can provide each other with different perspectives on their challenges.

Family business support groups focus on helping family businesses succeed by providing a forum for family business owners to share their experiences, getting access to education and training on how to run a family business, and allowing members to network with other family businesses.

Support Groups for Family Businesses in Canada

There are a few different support groups for family businesses in Canada. Here is a list of a few of them!

Family Enterprise Canada is a national community that connects, supports, inspires, educates, and speaks for the Family Enterprise community in Canada. They are committed to seeing family businesses flourish.

Family Enterprise is a supportive community empowered by thought leaders, family-focused knowledge, research, and resources. You can take advantage of this unique opportunity to help your family manage the challenges of harmonizing family, enterprise, and ownership.

Family Enterprise Canada has two membership plans – progressive experience and foundational experience. 

Foundational experience

If you’re a Canadian family business in the early stages of development, the Foundational Experience is perfect for you! It includes:

• Opportunity to meet other family business leaders who are also dealing with many of the same issues.
• Access to Mentorship Program and Personal Advisory Groups
• FREE introductory courses on Family Enterprise topics.
• Access to a member-only Resource Centre and a family-focused newsletter.
• Community support
• Family-focused social and educational events to support learning and sharing.
• All for $1,995

Progressive Experience

The Progressive Experience is a unique program that supports the needs of multi-generational families interested in advanced education, leadership development, and global connections. It offers many benefits, including:

• All Foundational Experience benefits
• A guided family journey that features personalized and proactive suggestions for resources and content
• Membership in FBN-I, the world’s leading organization for family enterprises
• Access to family-focused learning paths, courses, and curated resources designed explicitly for Learning Families
• Invites to signature events like Progressive Conversations and Progressive Insights
• an annual investment of $4,995.

Centre for Family Business

The Centre for Family Business (CFFB) is a non-profit organization established in 1997 with the mission to support, dedicate, and energize family businesses through consultative support, best-practice information, relevant educational programs, and Create opportunities to learn from peers.

CFFB strives to help business families reach their fullest potential and has become one of Canada’s most significant membership-based family business associations. 

CFFB has three payment plans that give you access to members-only events and discounts. Also, an opportunity to learn, grow and network with Businesses.

• Annual Payment Plan – $1,400
• Bi-Annual Payment Plan – $700
• Monthly Payment Plan- $120

Canadian Association of Family Enterprise

Another Canadian organization supporting family businesses is the Canadian Association of Family Enterprise (CAFE). They provide opportunities to help develop, promote and sustain family businesses in Canada. The membership fee is $99.

Family Business Association Atlantic

Family Business Association Atlantic is a non-profit, membership-driven organization supporting business growth in Atlantic Canada founded in 2016.

It is an interactive & engaging organization of knowledgeable family businesses and trusted advisors. They help family businesses thrive through peer-to-peer groups, networking events, and educational resources. 

Annual membership renews on September 1st each year.

Advisor Member – $500 plus HST annually

• Listing on our advisor webpage
• Access to past webinars
• Up to 3 members from the same business for $0

Family Member – $500 plus HST annually

• Join a Peer Group
• Access to past webinars
• Up to 10 family members at the same business for $0

Benefits of Support Groups for Family Businesses

There are many benefits to joining support groups for family businesses. Here are some benefits you can expect to receive by being part of this community.

Networking Opportunities

By having access to other family business owners, you will have the chance to network with experienced individuals who have valuable insight on how best to manage your company.

Education and Training on Family Business

By joining one of these groups, you will receive access to training and workshops that seek to educate you on the best practices in family business management.

Finding Solutions to Challenges

Family business support groups provide invaluable resources by allowing you to share your experiences with other group members, allowing these additional members to offer valuable feedback and advice to help you overcome these challenges.

Support From Experienced Family Business Owners

By joining family business support groups, you will have access to other individuals who can offer guidance and support during the various phases of running a family business!

Referrals and Resources

Some family business support groups may provide their members with access to various valuable resources, such as referrals to local service providers, legal advice, and more!

Conclusion

There are many different support groups for family businesses in Canada. Be sure to do your research and find the one that best suits your needs! 

Family businesses are a vital part of the Canadian economy, and by joining a support group, you can ensure that your business thrives for years to come!