Welcome to the Family!
It’s family. And working with family has its own unique challenges. Untangling what’s business and what’s family for the good of both is one of the greatest challenges of family enterprise. But, if they can work together to their full potential the opportunities for family, business, and community are endless.
41% of businesses feel that they are prepared and ready for the future in terms of succession planning.
Long Term Goals, Meet Short Term Drive | Deloitte 2019 Survey
30% of all family owned businesses survive into the second generation; 12% will still be viable into the third generation; 3% of all family businesses are operating at the fourth-generation level and beyond.
Joseph Astrachan, Ph.D., editor, Family Business Review
Family Business in West Michigan
West Michigan’s unique culture of family enterprise which has been critical in developing and shaping our community.
A group of independent West Michigan family businesses shared a common goal – to keep family businesses vibrant, strong, and contributing to our community. They believed that an organization which fosters community, mentorship, and access to educational resources would assist family businesses navigate the unique operating challenges and improve the opportunity for succession.
Established in 2006 in partnership with the Grand Rapids Chamber and Grand Valley State University and re-organized in 2018 as a 501(c)(6) within the Grand Rapids Chamber.
Today, the membership has grown to nearly 170 organizations with nearly 450 active representatives. The Family Business Alliance seeks to preserve our unique culture of family driven organizations and advance the succession rate of family business organizations in West Michigan.
2022 Member Survey
We completed the membership survey with 57 primary representatives responding. The results are reflective of 34% of the membership. This year, we included organization revenue and segmented the programming topics according to the FBA Continuum Models. Our Membership segments with 54% in the manufacturing sector, over 20% in business and professional services and 12% in the construction industry. Sibling Partnership and Founders Dream reflect the majority of the membership and is equally divided just under 50%.
Leading the Business
Entering the Business
Passing the Baton
Growth & Formalization
Maturity & Stabilization
Regeneration & Decline
West Michigan has a unique culture. The longevity of family business enterprises in our community is reflected in the FBA membership.